Recently, Amazon unveiled “Dash” buttons, which you attach to a household appliance or kitchen surface and then connect to the Internet (and the Amazon store) via the home Wi-Fi. For example, one of Amazon’s partners is Procter & Gamble, so when you run low on laundry detergent, you just press the button and Amazon will send out a new box of Tide. So, does this have any relevance to insurance? Not directly, but it does illustrate that people will always seek out more convenient ways to select and buy products. Yet when we look at our own industry, very few changes have been made to the business model in decades. Why do we assume we are immune to the demands?
My son recently moved to North Carolina and needed to buy a new (used) car and his first insurance policy. “I can help with the insurance,” I suggested, eager to be helpful but also to experience the process through the eyes of a millennial.
I think I understand auto insurance and recommended coverage and liabilities levels and deductibles that I felt were suitable,
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