Comments on Industry Observer: Insurance 2.0 : Googlelization of the Insurance I...

The clarity in the risk that the insurance co is t...

2008-11-14T16:11:00.000-08:00

The clarity in the risk that the insurance co is taking is fairly attractive and obvious. The privacy implications are un-nerving! I hope such a company never sees the light of the day.

The myriad securities in the financial services industry though could use a dose of analytics..

Allan - you phrased it quite well -"physical real ...

2008-11-06T12:48:00.000-08:00

Allan - you phrased it quite well -"physical real world proposition"

I think the most challenging aspect in Insurance 2.0 would be the legal and privacy concerns as a result of pricing based on the meta understanding of the individual.

Giving a relevant search result or a news feed based or a music recommendation on meta understanding of the customer is fine as there are no losers. but if you price a product based on this , there are bound to be legal issues.

Using credit score to decide the insurance premium keeps on getting questioned again and again. What would happen if we put a "black box" like onto the customer (in the form of google android) ans use that data to price is a question we will have to struggle with for some time

Insuring an individual is essentially a physical r...

2008-11-06T12:20:00.000-08:00

Insuring an individual is essentially a physical real world proposition. Which is something people are getting better at tracking everyday. I think the insurance industry will see a renaissance of analytics and become much more knowledgeable about their customers.

Insurance can be tricky and sometimes confusing. It's good to have a basic foundation on what insurance is and what it's suppose to do for you.