The definitive thoughts, frameworks, and analyses on modern risk.
Purchasing an insurance policy enables us to shift the financial risk of paying for certain losses to an insurance carrier in exchange for the premiums we remit. The terms and conditions of the transaction are detailed in a legal contract, or the insurance policy we receive. Knowing how hard it is for consumers to compare […]
Purchasing an insurance policy enables us to shift the financial risk of paying for certain losses to an insurance carrier in exchange for the premiums we remit. The terms and conditions of the transaction are detailed in a legal contract, or the insurance policy we receive. Knowing how hard it is for consumers to compare […]
There are a number of policy provisions and claims settlement procedures that enable some car insurance carriers to dramatically reduce their costs when repairing a damaged vehicle. The good news: those carriers are often able to charge less for insurance, since their repair costs are lower. The bad news: This shocking recent report by CNN […]
Not knowing the right questions to ask about your insurance protection is among the key reasons far too many consumers hear the dreaded words “you are not covered” at the worse possible time — after a personal property or liability insurance loss. Following are examples of frequently asked questions many consumers ask when making important decisions about […]
What was once old is new again. With all the expensive new studies on “Customer Experience” for sale, consider these free yet profound words from many years ago on CX from Miss Manners: “True service can only be provided by thinking people who have the imagination to put themselves in the place of the customer, figuring out […]
There are a number of policy provisions and claims settlement procedures that enable many car insurance carriers to reduce the costs to repair a damaged vehicle. A recent report by CNN explains many car repair shops accuse auto insurance companies of coercing them to use cheap parts and sometimes dangerous practices to fix vehicles involved […]
One of the more thoughtful bloggers I’ve discovered recently is Don Shaughnessy. In this insightful post, https://moneyfyi.wordpress.com/2015/04/03/9285/ Don reminds readers all too often, consumers are lured by marketers into asking the wrong questions, and in the wrong order. It prompted me to re-post below a similar message I learned 4 years ago from Carl Richards: Perhaps 95% of the […]
It seems impossible to keep up with all of the new strategies being used to steal our identity and private information. While enhancing personal privacy is a broad topic, many of the most important strategies are easy to implement yet often overlooked. For example: ALL of the experts I’ve spoken with strongly recommend using credit […]
Attention Shoppers…. Large retailers like Walmart and Overstock.com have recently announced they are providing shoppers the ability to add insurance to their carts. Of course, leveraging their size to sell commodities at a lower cost is what Walmart and Overstock.com do very well. Unfortunately for consumers, insurance is NOT a commodity, not even car insurance. […]
I often hear senior executives for leading insurance carriers lament the common public perception that insurance products are a “commodity”, to be differentiated only by price. I share the concern about this dangerous mis-perception, and work hard to help others realize the protection provided by policies as common as homeowners and automobile insurance can vary […]