In this episode of Agency Nation Radio, Marty and I give homage to the great Bill Wilson, retiring director of the Virtual University of the Independent Insurance Agents & Brokers of America (IIABA).
We do this, by dissecting one of Bill’s most recent blog posts, titled: The 6 Worst Things to Happen to Insurance in the Last 50 Years.
Specifically, we highlight three of the six “Worst Things:”
- The ‘insurance is a commodity’ myth.
- The obsession with data vs. people.
- Industry disrupters and the resurrection of the ‘death of the insurance agent’ prediction.
Each of these takes a slightly different take on the same idea.
Insurance is a commodity, not just because of insurance, but more importantly because of the people.
Humans decommoditize insurance.
This is an idea we spend a lot of time on.
Here are a few of the resources we mention during the episode:
- Death by 1,000 InsurTech Startups: 7 Lessons Learned While Considering the Demise of Independent Agents
- Chatbots: Soon To Be The Siri of Insurance