There aren’t that many trillion-dollar industries left where technology isn’t already shaking things up. One of the last dinosaurs to be hit by the asteroid of technological disruption is the insurance game. Specifically, we’re talking about property and casualty (P&C) insurance, which represents $1.6 trillion in premiums and accounts for about one-third of the entire […]
The word is out. This past spring, America’s hottest housing market was little old Coeur d’Alene Idaho, a place we visited last year to meet with an interesting LED tech startup called Rohinni. Plenty of people are finding their own private Idaho in a state that’s known for a low crime rate, friendly people, and […]
Everything is moving towards personalization. Precision medicine, on-demand manufacturing, and the new credit score are all good examples of how technology is allowing for a better product-market fit across many industries and use cases. Today, we’re going to talk about how big data can improve the auto insurance experience for consumers. In past articles, we […]
Ever since the Italians issued the first insurance contract in 1347, companies have been making money issuing insurance policies. It’s not just about accurately predicting your claims so you can price policies that are profitable. It’s about having a massive pool of cash that you receive from the people you insure which can then be […]
There aren’t many trillion-dollar industries, let alone multi-trillion-dollar industries. One of the biggest industries in the world, insurance – property, casualty, and life – premiums amount to approximately $5 trillion globally, accounting for 11% of gross domestic product in the United States. We previously discussed how technology is reshaping the insurance industry and today we’re […]
Warren Buffet’s success can largely be attributed to the insurance industry, the engine that consistently propelled the expansion of Berkshire Hathaway since 1967. The premise is quite simple. People pay insurance premiums which then get set aside into a pool of money called a “float” that insurance companies can then invest. That float is a free loan […]
Think about asking someone you trust to do something important when you die. Unless this person really, really cares about you, what are the odds they follow through with what you asked them to do once you’re dead? Now think about asking a corporation – who lists you in their system as a number – […]
Peter Thiel once wryly quipped that we wanted flying cars and instead, we got 140 characters. What’s even worse than that is the complete drivel that floats across that 140-character platform. Just look at these two gems that are trending on Twitter right now as we type this: Kanye reignites his beef with Drake and […]
We’re all familiar with how insurance works because we are all forced by law to purchase insurance for various assets that we don’t own. Depending on how risky you are, depends on how much you pay each month in the form of “premiums”. Those premiums then go into a bank account, a giant bank account, […]
One reason Warren Buffet likes the insurance industry is because of the “float”, a term that refers to the amount of money an insurance company has taken in but not yet paid out in claims. “Float” acts as a free loan that can be used for safe investments that only need to be cashed out when a claim […]