So I was in a moment of frustration and tweeted this out;

if @Zappos_Hsieh @amazon & @IBMWatson should produce an offspring So I can have #insurance company of my dreams #bigdata #fintech

And I meant it.  Let me elaborate.  I read Tony Hsieh’s Delivering Happiness and really, really, enjoyed it.  I also realized that many of the things they were doing, I already was successfully using as well.  People really liked being treated good.  They liked the lack of pressure.  They liked the random but thoughtful gifts.  Honestly, I have never even ordered from them and my wife has only used them a couple of times.  But the fact is we really like them and if they had the products we needed we would buy from them.

I’ve been enjoying  Amazon for a bit.  On a whim I signed up for Prime last year as well.   Honestly, I am using the shipping more than anything else.  Shame on me.  The video service is pretty good and I have dabbled in the music as well.  What has it taught me?  Pre-ordering a book is a great example.  If the price adjusts they refund the money.  Same thing when it comes to your wish list.  Making me aware of price changes is neat.  Each vendor(think broker or actual insurance company) has the chance to ask for feedback and is ranked accordingly.  I am giving the option to choose who I buy the same priced book from.  RARELY do any of them stand out.

What about Watson?  Really more cliche than anything else.  Fact is Watson manages data really well.  Insurance companies are not even close.  Laughable whenever the Internet of Things(IOT) comes up.  Why would you give insurance companies more data when they have not even figured out how to use what they have?  Honestly, although it could have an impact there is no need.  Most companies, especially the big nationals, can make some modest tweaks to their overall philosophy and similar adjustments to ten or less data points and DOUBLE NET REVENUES.

So, you take the philosophy and attitude of a Zappos process.  Blend it in with a bunch of the behind the scenes know how of Amazon as well as the marketplace formula.  Back that up with Watson and IBM’s ability to manage data and you will have an amazing, highly profitable insurance company.  Do they need to be a company?  Depends,  lets say provider.  Yes, this could  be a formula for an actual provider of insurance but it can just as easily be set up by a broker who is really looking to grow.

Some thoughts.  Thanks for considering.  Lots more to it 🙂  but still very doable in a short amount of time.