Something interesting is going on in the insurtech space that I thought I would point out.
A recent article highlighted the fact that only 29 percent of businesses buy cyber insurance. Assuming this number should be higher (it should -- nearly all businesses rely on computers), I already knew one of the reasons why cyber policies are not being purchased.
I've been quiet the last month or so. There has been too much to learn.
We are learning from our customers.
We are learning from insurance policies.
And, we are learning from the machine learning algorithms.
Since so much has happened in the last six months, I thought I would highlight some of my favorite RiskGenius learnings.
How many times have you spent a significant percentage of your day searching your company’s database for one small, yet critical piece of information? How many times have you been hours into a cumbersome search and thought, “Does it truly have to be this hard?”
If you have ever negotiated with me, you know that I start at a central point: what is fair? My contract law professor would laugh at me right now; she declared on the first day of class that there is no such thing as "fair." I disagree. I believe that in life and business, we all have a sense of fairness. Whether we choose to follow that sense is the question.
What would you do if you could go to Google.com and search for insurance clauses and policies?