As a consumer, I am getting used to a more individualized experience. These experiences are often driven by ‘loyalty’ cards that trade ‘points’ for my personal information, habits, etc. It seems worth it, and I understand the value to both sides. It makes sense. Applying that experience to insurance also makes sense – loyalty (a.k.a. retention) is a key metric for insurers. The problem is, I don’t often see the value to me as the policyholder.... Read More >
During a recent trip to China, I was presented with a wonderful opportunity to see things from a new perspective. Specifically, I found a new appreciation for the potential for improvement in insurance practices. I saw an industry in its relative ‘infancy’, though with market players already gigantic by any measure, that is about to take a massive leap forward in its levels of customer service, operational efficiency, and product innovation.... Read More >