Every insurance company takes a pull at writing business aggressively and they sit on it, manage it and then slowly increase the premiums. The article is great, it is one of the first times I have seen a carrier admit that the intent is to raise the premiums on renewals. The fact that they do this is why I have a viable business.
If you drop a frog in a pot of boiling water, it will of course frantically try to clamber out. But if you place it gently in a pot of tepid water and turn the heat on low, it will float there quite placidly. As the water gradually heats up, the frog will sink into a tranquil stupor, exactly like one of us in a hot bath, and before long, with a smile on its face, it will unresistingly allow itself to be boiled to death.
Travelers went Apesh*t in January writing new business at ridiculous pricing. After that, pricing can only go up!
This would be because of my daughters driving history…….
Every insurance company takes a pull at writing business aggressively and they sit on it, manage it and then slowly increase the premiums. The article is great, it is one of the first times I have seen a carrier admit that the intent is to raise the premiums on renewals. The fact that they do this is why I have a viable business.
If you drop a frog in a pot of boiling water, it will of course frantically try to clamber out. But if you place it gently in a pot of tepid water and turn the heat on low, it will float there quite placidly. As the water gradually heats up, the frog will sink into a tranquil stupor, exactly like one of us in a hot bath, and before long, with a smile on its face, it will unresistingly allow itself to be boiled to death.
Andrea Luoni
RateCraft
Andrea–
Please stop torturing us frogs and get back to work. We’re on to your “hot bath” scheme.
Sicko.