Perception is reality. The general public’s perception of reality relative to insurance is that personal insurance, especially auto, is a commodity. Their perception ranges from it being a government conspiracy designed to enrich insurance companies because it is mandatory to …
I recently listened to an insurance company executive give a discombobulated, “woe is me” speech to a room of agents who were largely ignorant of carriers’ financial success. To summarize his presentation: Insurance company investment income is down to 2 …
Once upon a time a doctor on Main Street USA made the same diagnosis and prescribed the same solution for every patient. This was a long time before WebMD or even Marcus Welby, MD. Patients had to weigh their two …
This is the age of big data. The concept is to collect all kinds of data and then use various statistical techniques, usually some sophisticated form of regression analysis, to identify correlations between the data, trends and opportunities. The data …
Every reader likely already knows interest rates are rock bottom. Some are even nominally negative and the prime rate has not changed in six years. That is a record! Exposure growth overall is normal, neither strong nor poor overall. Although …
Did you ever see the movie about the famous ballplayer that did not follow the playbook? How by doing whatever he wanted regardless of the play called, he succeeded and all his teammates were happy? What an inspiring story that …
Every day I receive at least a half dozen emails from firms promising to increase my sales if I pay them thousands, and sometimes tens of thousands, of dollars. I see website developers promising to increase my “traffic.” I get …
On occasion I find myself in a position having to explain insurance language to non-insurance people, particularly attorneys and CPAs. Their responses range from vacant stares to confusion. For example, think about explaining the term “broker” to a non-insurance person …
Multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) has been used for various business valuations, investment decisions, and loan arrangements for many generations so there is nothing new about it (barring the somewhat creative derivatives companies deep in …
I recently bought one of the new airline travel insurance policies. I’m on planes all the time visiting agencies and speaking across the country, so this new product appealed greatly to me. Many of my flights suffer lengthy delays and …
