Not Extinct but Still Endangered

Happy to see that this from 2012 is still relevant 

On the other hand, it is disappointing to know that although the industry has advanced, it really hasn’t.  The excuses are still the same.  The lack of interest in the customer is still there.

But what has changed?  In theory, there are more tools today to help you “review” your auto and home insurance.  In reality, they may connect to more companies but the tools are not much better.  Carriers are spending more to find people instead of spending more to keep people.

Underwriting is quite a bit more sophisticated but has a long way to go.  But, the scrutiny post application is much higher.  I do not see this decreasing but what I hope to see are companies using more partnerships to make risks well rounded.  What does this mean?  Most carriers tend to underwrite the person or the risk(home/autos/situation) but do not do a good job at combining the two sets of metrics.  But, in lieu of figuring this out, they should be able to provide solutions for common concerns.

A potential resurgence of an endangered species is always possible.  But, it tends to be led by a group of people that want to see it happen.  In this case it should be the brokers and the companies they represent.  I’m just not sure that enough of them want it to happen.