I am passionate about, and excited for these things coming to the world of risk and uncertainty management:
- Widely available alternatives to traditional insurance underwriting, pricing, and products.
- Equalized access to loss-prevention data so consumers can be guided toward desired outcomes.
- Consumer-centricity. Even an attempt at it.
- AI that synthesizes data with less bias than decisions made by what people “feel is true”.
- A commitment to being a social good.
- Replacement of the Morse-code like communications experience with insurance companies and their systems.
- An end to blaming losses for failure when it is the precise nature of the business you’re in.
- Predict & prevent > respond & recover.
- Some optimism. About anything.
Revolutions start when order turns to disorder. Eventually, reorder becomes a preferred replacement to the old ways of doing things. Traditional insurance and risk ecologies are demonstrating systemic weaknesses highlighting how quickly legacy belief systems can become uncompetitive. The technology industry is especially poised to introduce themselves as replacements to those who reverse-engineer response plans based on irrelevant history. I don’t know if they’ll wind up doing better, but it’s time to give them a try.
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