Auto insurance from a customer's perspective

[Markthebroker]

I love when "professors" on college campuses write academic papers telling industries that have been around for 300+ years what they are doing wrong …

As if the thousands and thousands of actuaries, underwriters, etc. employed by these companies are all just flawed idiots.

Auto insurance is a dumpster fire right now - the vehicles are becoming increasingly more expensive to fix, people are becoming increasingly more distracted while driving, and most important - the lawyers are becoming more and more hawkish... I would not want to just get premium when the vehicle is actually moving, I'd want a cushion.

But he said he read PhD level papers, and he's going to fix in efficiencies.

 

[Matt37]

Sounds like a business model update is in order. The "cushion" is the comprehensive, which covers the vehicle at all times. This could be left attached when the vehicle is stationary. Its pretty cheap. The link to the paper I mentioned is a few comments back. You may find it interesting, as I did.

comp/coll is not a cushion .... comp/coll is not of concern .. which is why it's "cheap" as you say.

BI is not, and depending on jurisdiction is crippling.

why do you think Auto XS umbrellas are going through the roof?? - their layers are starting to get penetrated.

unless that professor has actually managed a developed book and sat in numerous litigation hearings and has dealt with plaintiff attorneys ... his research does not do much for me.

a college campus and the real world are two vastly different animals...

 

[Markthebroker]

insurance rates are set and has nothing to do with litigation practices. this is a separate issue

Humm. What happens when one of the drivers insured by your insurance company disfigures some young child running out in the street. They've only $300,000 of bodily injury insurance. Then what? Will you deny paying out the millions of dollars for this young child's medical needs? Imagine how the press will jump on that.

 

[Allen Trent]

why don't you read the article and stop shooting your mouth off?

In @Markthebroker's defense, I have never even witnessed him open his cartoon like mouth. It is as if it is stuck closed or glued & he is therefore required to shoot his fingers off by typing (inefficient for sure). Kind of sad with that glued mouth that he cant even shoot his mouth off to use the voice to text features.

Now that I think about it, seems super inefficient that @Markthebroker has to pay the extra costs for the voice to text features on devices & services when he cant even utilize them. It would seem Apple & Android should discount his device costs & Verizon discount his services because he cant utlilize any of the features or services that are related to his voice that he cant use.

So sad if you think about it for a supposed hero with a cape.

Got to run, I just think I stumbled on a business start up idea to sell devices & cell/data plans to people with no voice by only charging them for the texting & typing related use

 

[Allen Trent]

Sounds like a business model update is in order. The "cushion" is the comprehensive, which covers the vehicle at all times. This could be left attached when the vehicle is stationary. Its pretty cheap. The link to the paper I mentioned is a few comments back. You may find it interesting, as I did.

You realize, collisions can occur to a car when it is sitting with comp only coverage, right? Bike or motorcycle or human running into it. Another vehicle, trailer, boat, motor-home, etc running into it while stored. Parking lot claims are a huge amount of claims & those are while the car is stationary in many cases.

 

[Markthebroker]

You are missing the point. If the car has coverage and is not moving, collision and comp are still in effect. These coverages do not start when the vehicle is moving and stop when its stationary.

Elon Musk and Warren Buffett are both in the auto insurance game. Two of the richest people on earth, and debatably two of the most successful business minds on earth.

Show them how they are doing it wrong, and you can do it better. These are brilliant business minds, so of course they'll see how you are right. Collect your two or three billion dollar consulting fee, and buy us all beer.

 

[Markthebroker]

I think we are done talking. Best of luck to you

Does this mean we are, or aren't, getting beer?

 

[Allen Trent]

Elon Musk and Warren Buffett are both in the auto insurance game. Two of the richest people on earth, and debatably two of the most successful business minds on earth.

Show them how they are doing it wrong, and you can do it better. These are brilliant business minds, so of course they'll see how you are right. Collect your two or three billion dollar consulting fee, and buy us all beer.

Figured you more for a needle guy. How do you drink beer with a glued mouth

 

[Markthebroker]

I don't drink. It was more for you guys.

But if this guy really did have a better mousetrap, his best route is to sell his superior mousetrap to anyone that would buy it, not start a whole new business, and deal with all the risks, costs, etc. that come with it. I've started businesses. It's really really hard.

 

[Markthebroker]

In @Markthebroker's defense, I have never even witnessed him open his cartoon like mouth. It is as if it is stuck closed or glued & he is therefore required to shoot his fingers off by typing (inefficient for sure). Kind of sad with that glued mouth that he cant even shoot his mouth off to use the voice to text features.

Now that I think about it, seems super inefficient that @Markthebroker has to pay the extra costs for the voice to text features on devices & services when he cant even utilize them. It would seem Apple & Android should discount his device costs & Verizon discount his services because he cant utlilize any of the features or services that are related to his voice that he cant use.

I appreciate you sticking up for me.
#toonlivesmatter