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The End of Insurance As We Know It: How Millennials, Insurtech, and Venture Capital Will Disrupt the Ecosystem
Change is coming to insurance. The tradition-bound P&C industry is on the cusp of the most radical change since the invention of the automobile. And leaders are unprepared for the size, scale, and speed of what's to come from the wave of millennials, new technology, and venture capital funding coming our way.
Insurance has been largely immune to upheavals for reasons that startups do not comprehend. Brand recognition, reams of customer data, legal contracts and regulation all make insurance much harder to conquer for insurtech startups.
But this time is truly different. Forces have been unleashed that will upend the industry sooner than you think. Collaborate or compete? Start small or go big? Pure tech play or MGA? The End of Insurance As We Know It bridges the divide between the traditional players, startups, and investors to show the areas where opportunities for disruption are ripe and what technologies you need to know about to stay relevant in our revolutionary time. Learn why insurance is the perfect digital product and gain a competitive edge no matter where you stand today in the ecosystem.
Advanced praise:
"The End of Insurance As We Know It is a brilliant and thought-provoking read. I only wish I had been able this 12 months ago!! As a founder and engineer entering the complex market that is insurance, this was the insurance 101 that I needed. It was a very well thought-through piece which examined the current trends and future challenges facing the insurance industry we know today and how insurtechs are placed to fill the gaps that are rapidly appearing."
Juliette Murphy, Co-Founder and CEO of FloodMapp
"The End Of Insurance As We Know It is a must read if you are in insurance or want to be. Just bought copies for the whole team."
Wesley Todd, CEO of CaseGlide
"I highly recommend The End Of Insurance As We Know It to all insurtech founders."
Anil Celik, Co-Founder and CEO of UrbanStat
395 pages, Paperback
Published February 9, 2019
145 people are currently reading
141 people want to read
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Displaying 1 - 11 of 11 reviews
October 28, 2023
Misses the entire point: insurance as a for-profit endeavour is wasteful and unfit for purpose. Adding “tech” to incrementally reduce costs and improve customer service is like putting band-aids on compound fractures.
October 10, 2020
Recommened as a starter for people interested in insurance disruption
Very good book as an introduction to current problems in insurance industry and its potential future. I would recommend it.
Very good book as an introduction to current problems in insurance industry and its potential future. I would recommend it.
October 23, 2020
First half is solid coverage of fundamental pain points people have with insurance; good overview. Second half is pretty thin.
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January 4, 2025Succeeds at giving an impression of some of the inefficiencies that exist in the insurance industry, at least if the author is to be believed. I mainly read it to prepare for a job interview but it was still fairly interesting. I think I have a better sense of what insurers are trying to do and of the issues they face than I did before, which is what I wanted when I got the book. However I feel it lacked technical details. It was also totally littered with typos, spelling errors, grammatical errors, incorrect word choices and sentences which clearly mean something other than what the author intended. I actually think these improved the book because the subject is very dry and they made it more amusing. Here are some examples:
"The streaming amount of data generated by these sensors..." (inexplicable appearance of the word "streaming")
"... math teachers used to tell students to memorize multiplication facts because 'we won't always carry a calculator in our pocket' have been proven wrong."
"... otherwise the claims will be a zero-paid claim meaning that it was covered by after applying the policy terms, the result was zero dollars owed by the carrier." Swapping from plural to singular, using "by" instead of "but", and exiting an embedded clause with a comma without entering it with one. It should be "otherwise the claim will be a zero-paid claim meaning that it was covered but after applying the policy terms the result was zero dollars owed by the carrier" or "otherwise the claim will be a zero-paid claim meaning that it was covered but, after applying the policy terms, the result was zero dollars owed by the carrier".
"The thought of spending hours obtaining quotes for insurance rather getting one in 5 minutes - or even less than 60 seconds - is rapidly becoming the new expectation from customers."
"VC funding can come from a variety of sources; some of which are aligned with incumbents and some that are not." Should be "some of which are and some of which are not" or "some that are and some that are not". The semi-colon is also incorrect. I do wonder what proportion of the total uses of semi-colons throughout history are correct.
"Many of them new startups have formed in the last 3-5 years..."
"AI can:
1. [Bullet point 1]
2. [Bullet point 2]
3. [Bullet point 3]
4. 24/7/365 availability"
"... 99.9999 percent of which is likely of limited value or relevance on its own except to distinguish the 0.000001 percent that is meaningful..." 99.9999+0.000001=99.999901.
Does this really matter? You might not think so, which is fair enough. I disagree. I think you have to care enough about what you write to eliminate mistakes like this, and it makes me sceptical of you as a reliable source of information if you don't do your due diligence in the very construction of your book. Imagine presenting a report to investors and having it be full of mistakes like this. It wouldn't exactly inspire confidence.
"The streaming amount of data generated by these sensors..." (inexplicable appearance of the word "streaming")
"... math teachers used to tell students to memorize multiplication facts because 'we won't always carry a calculator in our pocket' have been proven wrong."
"... otherwise the claims will be a zero-paid claim meaning that it was covered by after applying the policy terms, the result was zero dollars owed by the carrier." Swapping from plural to singular, using "by" instead of "but", and exiting an embedded clause with a comma without entering it with one. It should be "otherwise the claim will be a zero-paid claim meaning that it was covered but after applying the policy terms the result was zero dollars owed by the carrier" or "otherwise the claim will be a zero-paid claim meaning that it was covered but, after applying the policy terms, the result was zero dollars owed by the carrier".
"The thought of spending hours obtaining quotes for insurance rather getting one in 5 minutes - or even less than 60 seconds - is rapidly becoming the new expectation from customers."
"VC funding can come from a variety of sources; some of which are aligned with incumbents and some that are not." Should be "some of which are and some of which are not" or "some that are and some that are not". The semi-colon is also incorrect. I do wonder what proportion of the total uses of semi-colons throughout history are correct.
"Many of them new startups have formed in the last 3-5 years..."
"AI can:
1. [Bullet point 1]
2. [Bullet point 2]
3. [Bullet point 3]
4. 24/7/365 availability"
"... 99.9999 percent of which is likely of limited value or relevance on its own except to distinguish the 0.000001 percent that is meaningful..." 99.9999+0.000001=99.999901.
Does this really matter? You might not think so, which is fair enough. I disagree. I think you have to care enough about what you write to eliminate mistakes like this, and it makes me sceptical of you as a reliable source of information if you don't do your due diligence in the very construction of your book. Imagine presenting a report to investors and having it be full of mistakes like this. It wouldn't exactly inspire confidence.
February 9, 2020
I have read this book cover to cover and found it engaging and highly informative. Fascinating how the author could achieve this combination ... while writing about Insurance :)
Stellar job in bringing insurance perspective closer to a layperson. It includes a solid introduction to insurance and is probably the best Insurance 101 I could have wished for. Examples are engaging and help understand concepts in Insurance Innovation. Chapter 16 "Stop and Go: The Case For and Against Telematics" was the most relevant to our Insurtech company and I will quote it in my conversations with Clients from now on. Subtitles inside of chapters are pretty ingenious and thought-provoking, some reminded me of song lyrics. :) Highly recommend to anyone curious about the future of insurance, future of technology and the future of all of us!
Many thanks to the Author - The Most Interesting Man in Insurance!
Stellar job in bringing insurance perspective closer to a layperson. It includes a solid introduction to insurance and is probably the best Insurance 101 I could have wished for. Examples are engaging and help understand concepts in Insurance Innovation. Chapter 16 "Stop and Go: The Case For and Against Telematics" was the most relevant to our Insurtech company and I will quote it in my conversations with Clients from now on. Subtitles inside of chapters are pretty ingenious and thought-provoking, some reminded me of song lyrics. :) Highly recommend to anyone curious about the future of insurance, future of technology and the future of all of us!
Many thanks to the Author - The Most Interesting Man in Insurance!
January 12, 2022
Promising title an intro.
For newbies to the industry, the first part is pretty good and illustrative of the industry.
The second part fails to deliver. Written by an incumbent author, I think he is not convinced at all about the disruption coming ahead.
For newbies to the industry, the first part is pretty good and illustrative of the industry.
The second part fails to deliver. Written by an incumbent author, I think he is not convinced at all about the disruption coming ahead.
July 3, 2023
Clearly the author has barely a basic understanding of AI, and every time blockchain was mentioned out of the blue with no context (way too many times) was just cringey. At the very least, I learned about how the insurance industry works, which is a plus.
August 3, 2020
I liked this book more than I expected
May 30, 2020
I expected more from the book, the tittle promised a lot. If you know nothing about insurance it's a good start. I wanted to learn more about parametric insurance using AI and block chain technology, which in my point of view the insurance models are gonna head to. The book only barely mentions general concepts about it.
However, the author gives great inside of how general insurance companies work and where are the opportunities to innovate in insurance.
However, the author gives great inside of how general insurance companies work and where are the opportunities to innovate in insurance.
February 9, 2020
I have read this book cover to cover and found it engaging and highly informative. Fascinating how the author could achieve this combination ... while writing about Insurance :)
Stellar job in bringing insurance perspective closer to a layperson. It includes a solid introduction to insurance and is probably the best Insurance 101 I could have wished for. Examples are engaging and help understand concepts in Insurance Innovation. Chapter 16 "Stop and Go: The Case For and Against Telematics" was the most relevant to our Insurtech company and I will quote it in my conversations with Clients from now on. Subtitles inside of chapters are pretty ingenious and thought-provoking, some reminded me of song lyrics. :) Highly recommend to anyone curious about the future of insurance, future of technology and the future of all of us!
Many thanks to the Author - The Most Interesting Man in Insurance!
Stellar job in bringing insurance perspective closer to a layperson. It includes a solid introduction to insurance and is probably the best Insurance 101 I could have wished for. Examples are engaging and help understand concepts in Insurance Innovation. Chapter 16 "Stop and Go: The Case For and Against Telematics" was the most relevant to our Insurtech company and I will quote it in my conversations with Clients from now on. Subtitles inside of chapters are pretty ingenious and thought-provoking, some reminded me of song lyrics. :) Highly recommend to anyone curious about the future of insurance, future of technology and the future of all of us!
Many thanks to the Author - The Most Interesting Man in Insurance!
August 13, 2020
good book if want to learn more about insurance and trends
Displaying 1 - 11 of 11 reviews