The perfect crime, insurance edition

Just read this by Seth Godin; The Perfect Crime a very similar thing actually occurs in Insurance.  Thanks for the idea Seth.

I cannot factually speak on any of the lobbying or NAACP points.  Instead here is what I do know.

None of the insurance advertising you see actually shows you how to be a better consumer in the long term.  The companies only concern is on switching your insurance this year which, since the cost to acquire customers is high, is pretty stupid.  It takes several years to turn a profit on any individual, why would you only advertise for this year?  Because you are conditioning the masses.

Discounts or advertising

Enough already with “…with discounts up to 40%” or “..15mintues can save you…”  or ” the more policies you have the more discounts…”

  • Is it really a discount if your base rate is to high to begin with? 
  • Is it really a discount if you have to purchase a policy you don’t already have to get it? 
  • Would you only give your accountant, doctor, lawyer or even your mechanic only 15 minutes to review something that can effect you, your family, your livelihood and your wallet?