Going Digital

A prominent futurist offers eye-popping nuggets about how computing costs are rapidly heading toward zero and driving us toward almost unlimited information at nearly zero cost. 

For every dollar of premium sold, the company pays $1.60. Still! And the churn rate for customers appears to be at least 30% to 40%.

Traditional insurance companies do not offer the coverage options e-commerce retailers need to protect themselves against emerging risks.

Anyone who has purchased insurance by phone and a series of back-and-forth emails knows how slow and difficult that process can be. But it doesn't have to be that way. 

Insurtech 2.0 recognizes the innovators who came before but takes a more nuanced and collaborative approach, recognizing the structural issues inherent in insurance.

The legacy of Insurtech 1.0 may be more enduring than the actual companies. They forced incumbents to recognize their intransigence, producing a new focus on customer experience.

While many futurists have claimed that voice is such a natural means of communication that it will soon take over all customer/corporate interactions, Amazon's experience proves otherwise. 

Based on two decades as a consultant, executive and entrepreneur, I see three patterns that get in the way: Spinning Plates Syndrome, the Department of No and Zombie Resurrection.