Autonomous vehicles and the future of insurance

[Mark savant]

No need to be disrespectful Mark. If you don't have anything constructive to say, no need to reply.

The writing is on the wall, self driving cars are coming. Frankly, I think you are the one who is poorly informed. Nearly every auto company in every state is introducing "fleets". This is going to impact market share.

As a business startup, I see this as a major threat to my business model over the next 10, 20, 30 years. Insurance agents will need to adapt to stay relevant in this market. I'm trying to have a constructive, educated, conversation on this relevant topic. If you're not interested, you can see your way out.

 

[Markthebroker]

Don't worry Mark. You have already made it clear you are unable to learn from the experts. I have already "seen my way out" of this conversation as you are unable or unwilling to learn.

You have shown a refusal to learn from the 10% that are successful in an industry that has a 90% failure rate.

Despite what you have demonstrated, I wish you the best. I hope that you are one of the 10% like me, despite what you have shown here.

 

[Mark savant]

If youre advice is "don't worry about it" than I don't think you can assist me in my market analysis. Thanks for calling me an ignorant failure though. I appreciate it.

 

[VolAgent]

If youre advice is "don't worry about it" than I don't think you can assist me in my market analysis. Thanks for calling me an ignorant failure though. I appreciate it.

You should talk to NuZur, he is doing the same thing on the FE forum and has been at it for about a year now I believe. He is still "researching", while everyone else is busy succeeding or failing.

Now granted, the start up costs in P&C are a bit higher than FE, but it doesn't change the fact that eventually you have to get busy living or get busy dying.

 

[Markthebroker]

You should talk to NuZur, he is doing the same thing on the FE forum and has been at it for about a year now I believe. He is still "researching", while everyone else is busy succeeding or failing.

Now granted, the start up costs in P&C are a bit higher than FE, but it doesn't change the fact that eventually you have to get busy living or get busy dying.

VolAgent, are you suggesting his tactic of continuing to ask the same question over and over again in the hopes of a different response is not the best route?

 

[VolAgent]

VolAgent, are you suggesting his tactic of continuing to ask the same question over and over again in the hopes of a different response is not the best route?

Not even that persay. Simply stop trying to find reasons it won't work. Start finding reasons it will work, or go do something else.

Ever plan has flaws, there are always obstacles to be overcome, but nothing happens until you start.

Right now I am focusing on personal lines and have developed some effective marketing methods for it. And yes, self-driving cars do concern me. I will branch out from just PL, but it is a place to start.

Automation may even come for CL one day, there is no telling. But I can't live my life scared about what might happen.

 

[Mark savant]

Simply stop trying to find reasons it won't work. Start finding reasons it will work, or go do something else.

Ever plan has flaws, there are always obstacles to be overcome, but nothing happens until you start.

Right now I am focusing on personal lines and have developed some effective marketing methods for it. And yes, self-driving cars do concern me. I will branch out from just PL, but it is a place to start.

Automation may even come for CL one day, there is no telling. But I can't live my life scared about what might happen.

This makes sense to me. Like you said no plan is perfect. Starting a new business is a risk. If you always play it safe, you'll never see the joys of creating your own wealth / future stability.

The group I'm looking to join seems to be focused on families (home / autos / possibly life), but also gives a lot of flexibility to earn commercial accounts as well.

My plan day one would be to focus on building up as many home / autos as possible. This is one of the reasons I'm nervous about autonomous vehicles and the potential impacts they could have on insurance premiums and auto insurance market share.

The idea of branching out from PL is an interesting idea, except you start running into the "niche" problem. You can't do everything right? If you're doing some PL and some CL, you may not be realizing your maximum potential.

I've seen some business models revolving SOLELY on homeowners with 0 auto, but to me, that seems like you're leaving a lot of potential on the table. An interesting take nevertheless.