Insurance is the proverbial immovable object that is being met by the irresistible force of technology. And so far, the immovable object is coming out on top. However, this is truly a matter of time as the irresistible force is slowing chipping away at the immovable object. The technology world cannot simply “disrupt” the insurance industry.
The insurance industry can definitely use modernizing. However, the insurance industry is one of the largest industries in the world and as such commands significant power, along with being highly regulated. The insurance industry does a lot of things extremely well and has been doing so for a very long time. Insurance is an area of necessity for consumers and not something that people get excited about. Bridging that gap and providing an easy way for people to purchase insurance through an established insurance company, that will exist for decades, to be able to pay claims is a reasonable expectation. If you are able to better understand insurance, you will appreciate how insurance helps you.
Where does it go from here? Consider How Tech Is Eating the Insurance World . And if you do want to better understand your insurance, you can check out Insurance Made Easy where I cover the basics and provide tips and information on discounts for auto insurance, disability insurance, health insurance (including Medicare), life insurance, long term care insurance and annuities.
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