A Senior VP Underwriting once asked me: "Just curious, how come you can still keep your sanity after all these years!"
Before I could answer that, someone present joked: "He can keep his sanity because he is driving everybody crazy!"
And now, even more thorough, Insurtech Disruption! In whole, and in all!
"Beauty does not come from decorative effects but from structural coherence. Formal beauty and technical perfection are inseparable."
Pier Luigi Nervi.
Similarly, same idea and relationship exist between desire for insurance protection and making insurance contracts.
And definitely NOT Insurance "Product" which nobody reads until it is too late, and game over!
Is Insurance Business only a money game?
Just trading dollars?
Whether in hard market, or soft!
Simply NO respect for knowledge and experience, or even common sense!
Same old purposely mis-twisted DNA! Industry Genetic Disease, created and inherited! How can win?
Is insurance business a reasoning business, or an unreasoning business?
True, Insurance Business is to pay what the traffic will bear, that means, trading dollars!
But, in terms of a whole class of risks and even the whole insurance industry, NOT business volume and loss ratio of a broker or one entity,
or one single risk! It is how and where all the wrongs and conflicts begin!
The consequent dubious strategies and business model just cost the industry and everyone even more!
The fact is, ultimately, despite all the underwriting and risk selection system and efforts, it is luck that counts!
Insurance is the most misunderstood and perplexed business in the world, but to policyholders, insurance is something most critical at time of need.
However, what will usually happen? Why and how insurance simply fails?
This website will help explain, and change!
If insurance is a "product", what would production engineering do?
Simply, just make buyers think they know what they are buying, and sellers also think they know what they are selling!
That's what happens! One big hidden industry foundation flaw. No wonder!
Insurance Business is to deal with reality.
Yet, most just let ignorance and inability take over and taking reign instead!
Insurtech.com will disrupt and change that.
"New Reality!" Whose creation? How new? What that means?
Any change? Nil and nothing!
Just moving goalposts, with more excuses to reinforce the status quo!
How to stop and undo the immense traditional ............ mess?
Insurance Business is an honourable business.
Should it become or be made a disgrace in its practice instead?
Insurtech is for doing the same, or to do change?
Transformation? Disruption? Anything new, and real?
People will just learn and copy! Adding more risks. More unknowns.
Put it simple and straight.
The purpose and meaning of insurance is claims, and able to claim!
Only when you are not sure of what you are buying, then you have to rely on:
trust, relationship, sense of security and peace of mind, and also best price!
But will that be good enough to get claims paid? No!
Can clients' innocent ignorance and inability about risks and insurance matters be covered by 'Products' arranged through
trust, peace of mind, sense of security, relationship, easiness in buying, and then just best price?
Only if nothing happens!
Not doing what is supposed to do is doing what is supposed to do!
Should we teach that to AI (Artificial Intelligence) also? How?
No more Utmost Good Faith and True Agreement of Minds. Turn them all into conflicts instead, with hidden agenda!
Turning disadvantage into advantage becomes the business model! Making wrong become right!
And that causes the Insurance to fail! To fail is gainful and profitable?
The world pays a heavy price! Should we carry on?
Who to support?
To support those who don't know and don't care what they are selling to sell insurance?
All for the sake of trading dollars? "Leverage"?
Are we in insurance business, or ignorance business?
" Don't bite the hand who feeds you! "
A slip of tongue on its Business Philosophy !
The fact is, who is feeding who actually?
Hope our passion for insurance will achieve your purpose of insurance.
Our work is to make sure your desire and requirements for insurance will be met by providers of insurance, as agreed.
Doing business is to make money.
By doing what we say we do and what we are supposed to do!
How about insurance business?
By truly providing insurance needed, or just preying on clients ' trust !
Regardless, humans are behind all AI - Artificial Intelligence. Will it make things better? Say, to pay claims?
Don't be over optimistic! If consumers can even find and reach the get payment screen first!
Fundamentally, the beauty of Blockchain is to record all and any changes along the course.
But what is the use, if people know nothing about the original, except a "product" that they don't even read or understand?
Digital Transformation that transforms insurance only in form and shape, but not in essence, can never disrupt or change anything!
It can simply create and drive more ignorance and inability about insurance, and make things even worse!
Digital Transformation is Insurtech incomplete, to just continue the status quo, and to mislead.
"Insurance has to be sold"! Does it mean just making people buy?
Agreement to buy is NOT True Agreement of Minds!
Write risks to spread risks, or just push sales for trading dollar purposes?
Is it insurance business, or trading dollar business?
"Leverage"? A wrong approach. Just to camouflage and whitewash the wrongs!
End up even worse!
Do you need to do harm so as to make people submit, conform, and obey, or simply give up and don't care anymore of the wrongs that are being done?
Isn't that just adding more wrongs to cover up wrongs?
It has become a common everyday phenomenon!
Insurtech and Insurance will create a bond, not conflicts, for parties involved in an insurance transaction.
That will change insurance! For real.
A true disruption of the bad status quo.
Change insurance, will change the world! Before everything implodes!