Joining the Mad Hatter's Tea Party
Strategy: a concept loaded with many facets and meanings I know there are different views, definitions, and descriptions of strategy: what is it, what does it mean, why does a corporation need a strategy, and how does a corporation create a strategy are only a few questions about strategy. I don't plan to answer any… Continue reading Insurer Cyber Strategy In a Cyber-Forming New World (V 1.0) (Minimally updated March 27, 2024)
(Originally posted in July 2022.) Some people have asked me what my book is about. To answer that question, I thought it would be helpful to introduce myself and why I wrote the book as well as provide my three objectives for writing the book and the titles of the major sections inclusive of descriptions… Continue reading Stone Tablets to Satellites: Introducing – Myself, The Book’s Objectives, & Major Sections
The insurance industry is shifting from one portfolio of risk events that it has identified and managed profitably for thousands of years to a new, and significantly different portfolio of risk events: a plethora of cyber risk events that the insurance industry erroneously believes it can successfully identify and manage profitably. Specifically, the insurance industry… Continue reading The Cyber Medium is the Message
I wrote this post in October 2021 about the fairy tale of VC-disruption of the insurance industry. I believe the thrust of this post remains true if I rewrote it focusing on insurers (and other industries) using AI technology applications ... “History Doesn’t Repeat Itself, but It Often Rhymes” – Mark Twain Insurance firms, both… Continue reading The Emperor Still Has No Clothes (Insurers Who Believe in VC-Driven Industry Disruption Are The Emperor)
A few weeks ago, I saw a LinkedIn post from Dr. Robert Hartwig that discussed his testimony to one of the US Senate's subcommittees about the uninsurability of Business Income from the Covid-19 pandemic. Seeing that LinkedIn post, and reading his testimony, triggered my ongoing belief that uninsurability of certain risks has been happening more… Continue reading Shift to (Uninsurable) Severity (This WordPress Blog Post is From 2021)
Myths through the ages Myths are, always have been, and always will be an intrinsic element of human society. Myths like the Golden Fleece, Minotaurs, Unicorns, Cupid, Excalibur, and thousands of others have taken center stage in different segments of human life at different times, disappeared, and been replaced by newer tales and folklore. Myths… Continue reading The Myth of the Digital Insurer (From 2021)
All of us - people and businesses - leverage, in some degree, the reality that the marketplace is rapidly becoming an interconnected mobile, digital network. IP-enabled smartphones and tablets (and watches), owned and used by millions of people across the planet, enable a never-ending flow of data, knowledge, and business transactions throughout this network. One… Continue reading Platform Possibilities for Insurance Sales
Too many people throw around the term "Black Swan" willy-nilly (a technical phrase for 'far too quickly without justification'). Systemic cyber events will become the norm. These systemic cyber events will all be "white swans". I suggest that most cyber attacks are systemic cyber attacks, but currently not with the reach of the CrowdStrike cyber… Continue reading The “Every Day-ness” of Black Swans in the Cyber Age
"Alice asked the Cheshire Cat, who was sitting in a tree, “What road do I take?” The cat asked, “Where do you want to go?” “I don't know,” Alice answered. “Then,” said the cat, “it really doesn't matter, does it?" Alice's Adventures in Wonderland, Lewis Carroll November 1865 The insurance industry is being quickly surrounded… Continue reading Total Insurable Space of Profitable Underwriting Shrinking??? (Thought Piece)
Cyber past losses + Cyber IBNR + Cyber potential future losses =A. Vibrant cyber insurance marketplace now and in the future?B. Sign for insurers to stop selling cyber insurance now, if not sooner?C. Sign that insurers need to craft strategies to sell lower amounts of cyber insurance to some markets? All markets?D. Sign that insurers… Continue reading A Cyber Equation
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