(1) Insurance is contract. Has the insurance contract (or the "product") been made properly according to the Law of Contract? Then, when people want to tell their "stories", they are forbidden to do so! So as not to educate fellow consumers? "Privacy Act"? Sheer bad status quo! In a way, promoting and encouraging Sense of Impunity! All based on creating, driving, and using people's ignorance and inability! Disruption? How? In fact, disrupting nothing, and make things even worse! Indirectly, with help from the law!
(3) Same Insurer group, same risk, same Insured, same location, same cover, might be even the same underwriter too, but wide difference in pricing! All just Trading Dollars, or "leverage"! Not risk underwriting! Risks are the same! Doing it for less, out from nowhere, and out of nothing, but would it burn "less"? Professional? Consistency? It happens everyday and everywhere!
(5) How bad chaos and turmoils (Risks) in this world began? Often, all because of human nature and human weaknesses! It is so obvious that people just don't see! And don't want to see! Don't care anyway! No wonder, risks exist with human existence! And insurance business, the way it is being done, is actually a social issue!
(6) Well said! Many senior peers have also said the same thing before. But nobody listens. In fact, their own people don't listen either! Why? It is systemic! It is by design! It is all because of its old traditional Insurance Industrial Organization and 'Business Model'!
(8) Like it or not, everything in this world is actually connected together, through insurance, and nobody knows! All linked together, silently and indirectly! And all the authorities too! Through same management theory, same trade associations and networks, with same training and business/work methods! Everybody just blindly conforms and follows each other, and in a way, also being controlled and manipulated, somehow! Unknowingly, sense of impunity is enhanced, and encouraged! Creating and adding more conflicts and chaos, and unreasonings, continuously! For better control? On top, people always learnt and copied along the line. In all sectors! Therefore, driving even more ignorance and inability as a result, and more risks! So that there will be more needs for insurance that just complicate things further, and then keep repeating? In whole, just makes the Insurance Industry fail as an industry for providing insurance, when needed! Purposely? Is it a gainful and profitable proposition? What harms and uncertainties will cause to society, and to itself? Is it just a hidden invisible design, revolving around the same old traditional "business model"? Would digital transformation and virtualization of processes make things better? In fact, end up making insurance even worse for consumers! At the end, just perpetuating a worldwide accepted don't care system! No wonder! Should we 'carry on', the way it is? Change and disruption? How? Examples: A, B, C, D.
(10) If not, the almost pathological "don't care" system will persist in our society, and we will all pay for it! It seems nothing to do with insurance, but in fact, all is related to and influenced by insurance! Because people will just learn, consciously or subconsciously, and simply copy the same!
(12) A 'peanut' size little claim that reveals and proves how Insurance Business has evolved to what it is today! It happens always, and everywhere! Now, it is even digitally played! Are we in "Insurance" Business?
(17) It is one vivid example of the currently old and wrong traditional insurance business model! Business Development? By imposing termination and destruction of business? And out of nowhere! Just don't care! Actually, the whole "organization" in joint action to destroy your business and efforts instead! And more!
The worst outcome: our young people would just obey, learn and copy the same down the road! In justifying and making wrong become right! That's how things will perpetuate! But is that what insurance business should be? There goes our industry! Practically in creating and installing Ignorance and Inability to change! And doing what is not supposed to do!
(18) The basis for success in insurance business is underwriting. True underwriting. But what if underwriting guidelines are not really about underwriting? That's the beginning of the end! In all, simply a faulty "Flywheel System"!
(19) Many, actually too many, their life endeavour is about power seeking or money making, or both, simultaneously and in combination. For what, and why? And how? I will leave it to scientists and psychologists to answer the first question. Let's just talk about 'how', and go to the bottom of it! In reality, like it or not, the Universal Strategy and Tactics in seeking power or making money is to provide service to help on and to work on people's ignorance and/or inability, one way or another! It is just something natural and normal. But 'Ignorance is the root of all evil!' Service becomes Disservice aside, the worst and the most hazardous is making use of and taking advantage of people's ignorance and inability as if helping them and working for them! Not counting also the frequent irregularities, inconsistencies and never ending unreasoning we usually see before that! Actually beyond NOT doing what is supposed to do! And more than bully! Harming innocent people they don't even see or know! Because, more ignorance and inabilities are often needed, and being created and manipulated in the process! Through making and adding more regulations, rules, and guidelines, and authorities and decisions, whether necessary or related, in exercising them or let them hover around, and in driving perceptions in their application and implementation! Very predatory, and can be very vicious! Perception is actually ignorance that people won't admit as ignorance, especially when self-influenced by what they like or don't like to see and hear, and feel! Together with all the camouflage, justifications and excuses imposed on top! Also by way of media propaganda and distractions purposely to affect, mislead and divert attention! Just to cover up and masquerade further, thereby adding even more ignorance and inability! Not to speak of all the forgetfulness, forgiveness and giving up as being encouraged and promoted, and installed subconsciously, along the line! Ethics, Morals, and Corporate Social Responsibility? All simply disappeared and evaporated! At the end, the most "successful" approach is successful in making people doing it, but not knowing it, and better don't even know what they are doing, yet just think they know! It is the original source for multi facets and multi layers don't care and point finger that added risks and started everything! Now, think it in terms of Risk and Insurance Business, all its "services", its System and Business Model, beyond and more! Then, check against www.Insurtech.com. We learnt. The current Business Model based on trading dollars is old and out! It has to change. There is a better way!
(a) Client almost had to beg for insurance, or being just forced out of business, indirectly!
(b) A global giant Insurance Group dispensing their risk capitals and facilities the wrong and treacherous way, through layers, and don't care, and probably don't really know what is going on either! Just stat numbers! How can disruption (or transformation) happen?
(c) You bring them business. They "steal" your business, and drive or deprive you out of business, as if it is their right to do so and the right thing for them to do! Again, just by making wrong become right! Is that how insurance business done? HEREDITARY. Mis-twisted DNA! Industry wide.