Use a telematics app to get a discount for your safe driving, not just accepting the standard rate.
The Driving Test You Get to Take with an Open Book.
Accepting a standard auto insurance rate is like taking a final exam where the teacher assumes you’re a “C” student without ever seeing your work. A telematics app is your chance to take that exam with an open book and prove you’re an “A” student. For a few months, the app on your phone acts as a driving instructor, grading you on things like smooth braking and safe speeds. Acing this short, transparent test provides the insurance company with the hard data they need to give you the grade—and the discount—you actually deserve.
Stop getting insurance quotes by calling agents one by one. Do use an online aggregator to compare dozens of rates in minutes instead.
The Travel Agent vs. the Kayak.com of Insurance.
Calling individual insurance agents is like calling different airlines one by one to find the best price for a flight. It’s an exhausting, slow, and inefficient process. An online insurance aggregator is the Kayak.com for insurance. You enter your information once, and their powerful engine instantly scans the entire “internet” of insurance companies, bringing back a clear, side-by-side comparison of dozens of different “flights” in just a few minutes. It’s the modern, smart way to ensure you are seeing the entire market, not just one or two airlines.
Stop waiting for a paper check after a claim. Do use an insurer that offers instant digital payments instead.
The Horse-Drawn Carriage vs. the Direct Deposit.
Waiting for a paper check to arrive in the mail after an insurance claim is like waiting for a message to be delivered by a horse-drawn carriage. It is a slow, archaic, and frustratingly outdated process. The modern insurance world has embraced instant, digital payments. Many companies can now send your claim payment directly to your bank account or debit card the moment it is approved. It’s the difference between waiting weeks for your money and having it in your hand in a matter of minutes.
The #1 secret your agent doesn’t want you to know is that AI-powered online brokers can often find you a better policy faster.
The Human Librarian vs. the Google Search Engine.
A traditional insurance agent is like a wonderful, knowledgeable librarian. They know their library very well. But an AI-powered online broker is the Google search engine. In a matter of seconds, it can scan the entire, global library of insurance products, analyze billions of data points, and find the one, specific, niche policy that is the absolute perfect fit for your unique needs. While the librarian is a trusted guide, the sheer speed and data-processing power of the AI can often uncover a better, more efficient solution.
I’m just going to say it: The insurance industry’s legacy technology is the reason your experience is often slow, clunky, and frustrating.
The Supercomputer Running on Windows 95.
The insurance industry is a financial supercomputer that is, in many cases, still running on an ancient, outdated operating system. The massive, legacy mainframe systems that the giant carriers are built on are like a corporate version of Windows 95. They are slow, they don’t talk to each other, and they are incredibly difficult to update. This clunky, old technology is the invisible reason why your applications are slow, your claims process is a nightmare, and your overall customer experience feels like it is stuck in a bygone era.
The reason your claim is taking so long is because it’s being handled by adjusters using outdated systems, not AI-driven triage.
The Overwhelmed Human Operator vs. the Smart, Automated Switchboard.
Imagine a call center with a thousand blinking lights and only one human operator. That is the old way of handling claims. The modern, tech-enabled approach uses AI as a smart, automated switchboard. The AI can instantly triage all the incoming claims, fast-track the simple, straightforward ones for immediate payment, and route the complex, difficult ones to the right human specialist. This “smart triage” allows the company to handle a massive volume of claims with incredible speed and efficiency, a process that is still painfully manual at many older companies.
If you’re still printing out your insurance ID cards, you’re losing the convenience of the digital wallet cards provided by your insurer’s app.
The Crumpled Paper in Your Glovebox vs. the Digital Card on Your Phone.
Searching for that crumpled, outdated paper ID card in the bottom of your glove box during a traffic stop is a stressful and unnecessary moment of panic. The modern solution is the digital wallet. Your insurer’s mobile app allows you to download a permanent, always-up-to-date digital ID card directly to your smartphone’s wallet. It’s the same place you keep your boarding passes and your credit cards. It is a secure, convenient, and universally accepted way to ensure you always have your proof of insurance right at your fingertips.
The biggest lie you’ve been told is that new insurtech startups are just fly-by-night operations; many are backed by the biggest insurance companies in the world.
The “Cool New Restaurant” That’s Secretly Owned by a Five-Star Chef.
The lie is that these new, tech-savvy insurance startups are flimsy, risky, and inexperienced. The reality is that many of them are like a cool, trendy new restaurant that is secretly owned and funded by the most famous, five-star chef in the world. The giant, established insurance carriers are not ignoring this new technology; they are fueling it. They are the massive, financially stable powerhouses that are investing in and partnering with these startups, combining their old-school financial strength with the startup’s cutting-edge technology.
I wish I knew about using drone imagery to assess my roof damage when I filed my first homeowners claim.
The “Surgeon’s Scalpel” vs. the “Guess” from the Ground.
After a major hailstorm, the old way to assess a roof was for an adjuster to make a guess from the ground or climb a wobbly ladder. The modern, and far superior, method is a drone. A drone can safely and quickly fly over your roof and capture hundreds of high-resolution, geotagged images. This creates a detailed, precise, and undeniable map of every single point of damage. It is the difference between a doctor making a diagnosis from across the room and a surgeon using a high-powered microscope. It is a more accurate, safer, and faster way to document the truth.
99% of people make this one mistake: they don’t use their insurer’s mobile app to file a claim instantly from the scene of an accident.
The “CSI Kit” That’s Already in Your Pocket.
The most critical evidence in a car accident is at the scene, in the moments after it happens. Your insurer’s mobile app is a powerful, all-in-one “Crime Scene Investigation” kit that is already in your pocket. It can walk you through the exact information you need to collect, allow you to take and upload photos of the damage and the documents, and officially file the “first notice of loss” before you have even left the scene. This one action creates an immediate, accurate, and time-stamped record of the event, dramatically speeding up the entire claims process.
This one small action of enabling push notifications from your insurance app will provide you with important alerts about billing and claims.
The “Polite Tap on the Shoulder” from Your Insurance Company.
Enabling push notifications from your insurance app is like giving your company permission to give you a polite, silent tap on the shoulder when something important happens. It is a simple, unobtrusive way to stay informed. A notification might alert you that your bill is due, that a claim payment has been issued, or that a document needs your attention. It’s the modern, convenient alternative to a paper letter that gets lost in the mail or an email that gets buried in your spam folder.
Use a parametric insurance provider for weather-related business risks, not a traditional policy that requires a lengthy claims process.
The “If-Then” Bet vs. the “Prove Your Damages” Lawsuit.
A traditional insurance policy is a complex contract of indemnity. After a hurricane, you have to go through a long, painful process to prove exactly how much you lost. A “parametric” policy is a simple, elegant “if-then” bet. The contract might say, “IF a Category 4 hurricane makes landfall within 10 miles of your hotel, THEN we will pay you $1 million within 72 hours.” The payment is triggered by the data—the parameter—not by a lengthy adjustment process. It is a fast, transparent, and simple way to get cash in your hand when you need it most.
Stop buying insurance based on your demographic profile alone. Do use a provider that offers usage-based insurance (UBI) tailored to your actual behavior.
The “Stereotype” vs. the “Individual Report Card.”
Traditional insurance is based on a stereotype. You are a 22-year-old male, therefore you are a risky driver. Usage-Based Insurance (UBI), using a telematics app, is the individual report card that can bust that stereotype. It allows you to prove that, despite your demographic, you are actually a very safe and responsible driver. It is the shift from being priced based on the statistical average of a group you belong to, to being priced based on your own, unique, and provable individual behavior.
Stop guessing what’s in your home. Do use an AI-powered app to create a digital home inventory in minutes instead.
The Impossible Memory Test vs. the Smart, Digital Librarian.
After a fire, you are faced with an impossible memory test: list every single thing you owned. The human brain cannot do this. An AI-powered home inventory app is the smart, digital librarian for your life. You simply walk through your house, taking a video, and the AI will “watch” the video, automatically identify your belongings—the Sony TV, the IKEA bookshelf, the Cuisinart coffee maker—and neatly organize them into a detailed, digital catalog. It is the cheat sheet that makes the impossible test incredibly simple.
The #1 hack for getting a fast life insurance policy is to use a company that offers accelerated underwriting using data analytics instead of a full medical exam.
The “Digital Background Check” vs. the “Full Physical.”
The old way to get life insurance was a long, slow process that always ended with a nurse coming to your house to take your blood and your urine. The modern, and much faster, hack is “accelerated underwriting.” The insurance company uses the power of big data and artificial intelligence to perform an instant, digital background check on you. By analyzing your prescription history, your motor vehicle record, and other public data, they can make an instant decision for healthy applicants, allowing you to get a fully underwritten policy in minutes, not weeks.
I’m just going to say it: Your car knows how you drive, and soon, all insurance will be priced based on that data.
The “Black Box” That Becomes Your New Insurance Score.
Your modern car is a rolling, high-tech computer that is constantly generating a massive stream of data about your driving habits—your speed, your braking, the time of day you drive. This is the “black box” of your personal driving life. Right now, sharing this data is mostly voluntary. But in the near future, this constant, real-time data stream will become the primary factor in your auto insurance premium. Your rate will no longer be based on your demographic profile; it will be a direct, mathematical reflection of your actual, daily driving behavior.
The reason your rates are so personalized is because insurers are using big data and predictive analytics to assess your risk with incredible accuracy.
The “Financial Fingerprint” That Is Unique to You.
The reason you and your identical twin neighbor can get two completely different insurance quotes is the power of “big data.” Insurance companies are no longer just looking at your age and your driving record. They are using powerful computers to analyze hundreds of different data points—your credit history, your shopping habits, the claims data in your zip code—to create a unique, multi-dimensional “financial fingerprint” that is specific to you. This predictive model allows them to assess your individual, personal risk with a level of accuracy that was unimaginable just a decade ago.
If you’re still filling out long paper applications, you’re losing time by not using an insurtech company with a 5-minute online application.
The “Horse and Buggy” vs. the “Tesla.”
Filling out a 20-page, paper insurance application that has to be mailed or faxed is the horse and buggy of the financial world. It is a slow, inefficient, and frustratingly archaic process. A modern, digital-first insurtech company is the Tesla. With a clean, simple, and intelligent online application, they can use API integrations and smart design to get all the information they need in just a few minutes. It is a faster, more convenient, and more enjoyable experience that respects the value of your time.
The biggest lie is that this new technology is only for millennials; seniors are adopting insurance apps for the convenience and savings.
The “Grandma on FaceTime” Effect.
The lie is that new insurance technology is a “young person’s game.” The reality is the “Grandma on FaceTime” effect. Seniors are one of the fastest-growing demographics for adopting new technology, especially when it provides clear benefits of convenience, savings, and connection. From using an app to manage their Medicare plan to using telematics to get a discount on their auto insurance, seniors are proving that a great, user-friendly technological solution is a powerful tool for any age group, not just for millennials.
I wish I knew that I could get on-demand insurance for just the hours I was driving for a rideshare service.
The “On/Off” Switch for Your Commercial Insurance Policy.
The gig economy has created a new type of risk: the part-time commercial driver. The old, “always on” commercial insurance policy is a terrible fit for this. The modern solution is “on-demand” or “episodic” insurance. It’s like an on/off switch for your commercial coverage. Through an app on your phone, you can turn the policy on the moment you start your shift for Uber, and you can turn it off the moment you are done. It ensures that you are only paying for that expensive commercial protection for the exact hours you are actually working.
99% of people make this one mistake: they are concerned about privacy with telematics but ignore the vast amount of data their smartphone is already collecting.
The “Voluntary Spy” vs. the “Hidden Spy” in Your Pocket.
People get very nervous about the “spy” of a telematics app from their insurance company. This is a classic case of misdirected fear. A telematics app is a “voluntary” spy that you are using for a specific, transparent purpose: to get a discount. Meanwhile, the dozens of other apps on your smartphone—your social media, your navigation, your games—are the “hidden” spies that are already collecting and selling a massive amount of your personal data without giving you anything in return. The insurance app is often the most honest and transparent spy in your pocket.
This one small action of using your phone to video-chat with a claims adjuster will get your claim settled days or weeks faster.
The “Virtual Adjuster” Who Can Be in Your Living Room in Minutes.
The old claims model required you to wait for a physical adjuster to drive to your house, which could take days or weeks after a major storm. The modern, and much faster, solution is a virtual adjustment. The simple action of using your smartphone to have a live video chat with the adjuster allows them to be “virtually” in your living room in a matter of minutes. They can direct you to show them the damage, they can take digital screenshots, and they can often approve and settle your claim right there on the call.
Use an AI chatbot on the insurer’s website for simple questions, not waiting on hold for a human agent.
The Instant, 24/7 Librarian for the Easy Questions.
Waiting on hold to ask a simple, factual question is one of the most frustrating parts of the insurance experience. An AI-powered chatbot is the instant, 24/7 librarian for the easy stuff. It is a fantastic tool for getting an immediate answer to a basic question like, “What is my deductible?” or “When is my next payment due?” This frees up the human agents to be the expert researchers who can help you with the more complex, nuanced, and emotional problems that the robot is not equipped to handle.
Stop being afraid of AI in underwriting. Do understand it can lead to fairer, more accurate pricing by removing human bias.
The “Objective Mathematician” vs. the “Biased Human.”
The fear is that a robot will be a cold, heartless underwriter. The reality is that human underwriters, like all humans, are subject to their own, unconscious biases. Artificial intelligence, when properly designed, is a pure, objective mathematician. It looks only at the data and the statistical probabilities, not at your name, your accent, or your neighborhood. By removing the subjective, and often biased, human element from the equation, AI has the potential to create a much fairer and more accurate pricing system for everyone.
Stop thinking of your smart home devices as just gadgets. Do use them to get discounts on your homeowners insurance for preventing fire and water damage.
The “Digital Watchmen” That Are Guarding Your House.
Your smart home devices—your Ring doorbell, your Nest smoke detector, your smart water shut-off valve—are not just cool gadgets. In the eyes of your insurance company, they are a team of tireless, digital watchmen who are actively protecting your home from fire, theft, and water damage. Because these devices dramatically reduce the likelihood of a major claim, most insurance companies will offer you a significant “smart home” discount as a reward for having them installed. They are the proactive security guards that also lower your bills.
The #1 secret is that insurers are using aerial imagery from satellites and drones to underwrite your property without ever stepping foot on it.
The “Eye in the Sky” That’s Your New Home Inspector.
The secret that most homeowners don’t know is that the traditional, in-person home inspection is a thing of the past. Insurance companies are now the “eye in the sky.” They are using high-resolution imagery from satellites, airplanes, and drones to perform a detailed, virtual inspection of your property. They can see the condition of your roof, they can spot an undeclared swimming pool or trampoline, and they can measure the distance of a tree to your house, all without you ever knowing they were “there.”
I’m just going to say it: The traditional insurance agent model is being disrupted and will look completely different in 10 years.
The “Travel Agent” of the Financial World.
Think about the travel agent of the 1990s. They were the essential gatekeepers of information. The internet and powerful new technologies completely disrupted that model, transforming the travel agent from a simple ticket-booker into a high-end, specialized curator of experiences. The exact same disruption is happening to the insurance agent right now. The simple, transactional part of their job is being automated. The successful agent of the future will be a sophisticated, tech-enabled risk advisor, not just a policy salesperson.
The reason you can get a renters insurance quote in 90 seconds is because of API integrations that pull public data about your property instantly.
The “Digital Detective” That Does Your Application for You.
The magic behind that lightning-fast online quote is a technology called an API. It is a digital detective. The moment you type in your address, the insurance company’s system sends out its digital detective to instantly pull in a massive amount of public data about your building—its age, its construction type, its local fire protection rating. This allows them to pre-fill a huge portion of your application and make an instant, data-driven decision, turning a process that used to take days into one that takes seconds.
If you’re still getting a paper bill in the mail, you’re losing the convenience and security of paperless billing and auto-pay.
The “Pony Express” vs. the “Email.”
Relying on a paper bill to be delivered by the post office is the Pony Express of the financial world. It is slow, it is unreliable, and it is vulnerable to being lost or stolen. Paperless billing and automatic payments are the modern, secure, and efficient email. Your bill arrives instantly and is stored in a secure digital archive. Your payment is made automatically and on time, every single time. It is a more convenient, more secure, and more reliable system that eliminates the risk of a late fee or a cancelled policy.
The biggest lie is that technology makes insurance impersonal; it can free up human agents to handle the complex, empathy-driven tasks.
The “Robot” That Handles the Paperwork So the “Doctor” Can Talk to the Patient.
The lie is that technology is replacing the human touch in insurance. The reality is that it is liberating it. Technology is the brilliant “robot” that can handle all the boring, repetitive, and administrative tasks—the paperwork, the data entry, the simple questions. This frees up the skilled, human agent to be the “doctor” who can focus on the things the robot can’t do: listening with empathy, providing sophisticated advice, and guiding a client through the emotional chaos of a major claim. Technology empowers the human, it does not replace them.
I wish I knew that peer-to-peer (P2P) insurance models existed that could lower my costs through a shared risk pool.
The “Neighborhood Co-op” vs. the “Giant Supermarket.”
Traditional insurance is like a giant, for-profit supermarket. A peer-to-peer (P2P) insurance model is like a small, neighborhood co-op. A group of like-minded people pool their premiums together to share each other’s risks. The company takes a small, flat fee to manage the pool, and any leftover money at the end of the year is returned to the members as a dividend. It is a more transparent, community-focused, and often more affordable model that is built on the principle of a shared fate, not a corporate profit.
99% of people make this one mistake: they don’t check if their new connected car is sharing driving data with insurers by default.
The “Hidden Passenger” in Your New Car.
This is a critical and often overlooked mistake. Your new, “connected” car is a high-tech data-gathering machine. Buried deep in the settings of your car’s infotainment system is often a default, “opt-in” agreement to share your driving data with a third-party data broker, who can then sell that information to insurance companies. You may be participating in a telematics program without even knowing it. You must go into your car’s privacy settings and make a conscious choice about who is allowed to be a hidden passenger on your daily drive.
This one small action of linking your health wearable (like a Fitbit) to your life insurance provider could earn you rewards and discounts.
The “Good Health Report Card” That Lowers Your Premium.
The life insurance of the future is not just about how you die; it’s about how you live. Many modern life insurance companies, like John Hancock’s Vitality program, will reward you for your healthy habits. The simple action of linking your Fitbit or Apple Watch to their app is like sending them your daily “good health report card.” By proving that you are actively walking, exercising, and taking care of yourself, you can earn points that can be redeemed for gift cards and, more importantly, a significant and permanent discount on your life insurance premium.
Use a pay-as-you-go workers’ compensation policy that integrates with your payroll provider, not one based on estimated annual payroll.
The “Pay for What You Eat” vs. the “Estimated Annual Buffet” Bill.
A traditional workers’ compensation policy is like a restaurant that makes you guess how much you will eat for the entire year and pay for it upfront. It’s a clumsy system that always ends with a messy audit. A modern, “pay-as-you-go” policy is the “pay for what you eat” model. It integrates directly with your payroll system. Each pay period, it automatically calculates the exact premium you owe based on your actual payroll and deducts it. It is a more accurate, more efficient, and more cash-flow friendly system for any small business.
Stop wondering about your claim’s status. Do use an online portal that gives you real-time updates instead.
The “Domino’s Pizza Tracker” for Your Insurance Claim.
The old way of checking on a claim was to call your adjuster and hope they would call you back. The modern insurance portal is the Domino’s Pizza Tracker for your claim. It is a simple, online dashboard that gives you a clear, real-time, visual representation of exactly where your claim is in the process. You can see when it was received, when the adjuster was assigned, when the payment was approved, and when the check was sent. It replaces the frustrating black box of the past with a transparent and empowering window.
Stop getting your certificates of insurance via email. Do use a digital platform that manages and verifies them instantly.
The “Digital Filing Cabinet” vs. the “Messy Pile of Papers.”
For a business that deals with a lot of subcontractors, managing their Certificates of Insurance (COIs) is a massive administrative headache. Trying to track them via email and a spreadsheet is like having a messy, overflowing pile of papers on your desk. A modern, digital COI management platform is the smart, automated, digital filing cabinet. It allows you to request, receive, and verify the certificates in one place. It will automatically flag a non-compliant certificate and even alert you when a vendor’s policy is about to expire.
The #1 hack for small businesses is using an all-in-one digital HR and benefits platform, not trying to manage insurance and payroll separately.
The “Smartphone” vs. the “Flip Phone, Pager, and Fax Machine.”
Trying to manage your payroll, your HR, and your employee benefits with three separate, disconnected systems is like trying to run your business with a flip phone, a pager, and a fax machine. An all-in-one, digital platform like Gusto or Rippling is the powerful, integrated smartphone. It combines all of these critical functions into one, seamless, and easy-to-use system. This integration saves you a massive amount of time, reduces the risk of errors, and provides a much more professional and modern experience for your employees.
I’m just going to say it: Blockchain technology will eventually make the claims process transparent, instant, and fraud-resistant.
The “Un-Cheatable,” Shared Digital Ledger.
The current claims process is a slow, messy, and fraud-prone system of “he said, she said.” Blockchain technology is the future solution. A blockchain is a shared, transparent, and un-editable digital ledger. An insurance policy built on a blockchain would be a “smart contract.” It could be written to say, “IF the official FAA flight database shows that Flight 123 was cancelled, THEN instantly and automatically pay the policyholder $500.” There is no adjuster, no paperwork, and no argument. It will be a transparent, instant, and un-cheatable system.
The reason insurtech is booming is that the traditional insurance industry has been ripe for disruption for decades.
The “Taxi Medallion” of the Financial World.
For decades, the traditional insurance industry has operated like the old taxi medallion system. It was a comfortable, protected, and technologically stagnant oligopoly that was characterized by terrible customer service and a clunky, paper-based process. The rise of the smartphone and big data was the “Uber” moment for this industry. The insurtech boom is the direct result of a massive, technologically advanced industry that was, and in many ways still is, operating with a 1980s mindset and a 1990s technology stack.
If you’re still mailing a check to pay your premium, you’re losing time and risking a late payment.
The “Snail Mail” Gamble vs. the “Instant” Guarantee.
Paying your insurance premium with a paper check is like sending a critical, time-sensitive message via snail mail. You are putting your faith in a slow, and sometimes unreliable, system. You are gambling that the check will not be lost, that it will not be delayed, and that it will be processed in time. An online payment or an automatic bank draft is the instant, digital guarantee. The payment is made and recorded in a matter of seconds, completely eliminating the risk of a late payment and a potential cancellation of your policy.
The biggest lie is that using technology to get insurance means you’re on your own; many insurtechs have licensed human agents available via chat or phone.
The “Tech-Enabled Human” vs. the “Human-Only” Model.
The lie is that choosing a modern, tech-focused insurance company means you are sacrificing the human element of advice. The reality is that the best insurtechs are not replacing humans; they are empowering them. They use technology to handle the simple, administrative tasks, which frees up their team of licensed, professional human agents to be available via chat, phone, or email to handle the complex, nuanced, and empathy-driven problems that a robot will never be able to solve. It’s a “best of both worlds” model.
I wish I knew that AI could detect insurance fraud, which helps keep my premiums lower.
The “Digital Detective” That Protects the Honest Customers.
Insurance fraud is not a victimless crime. The billions of dollars that are paid out for fraudulent claims are a hidden “fraud tax” that is passed on to every single honest policyholder in the form of higher premiums. Artificial intelligence is the powerful, new digital detective on the case. It can analyze millions of claims to spot the subtle patterns and the hidden connections that are the hallmarks of a fraudulent claim. By catching the bad guys, the AI is helping to keep the entire system more honest and more affordable for you.
99% of people make this one mistake: they assume the price they see on a comparison website is the final price, before their data is run through the underwriting engine.
The “Sticker Price” vs. the “Out-the-Door” Price.
The price you see on an online insurance comparison site is the sticker price on the car. It is the best-case-scenario, marketing number. It is not the real, “out-the-door” price. That final price is only revealed after you have given the company your permission to run your personal data—your driving record, your claims history, your credit score—through their powerful, and secret, underwriting engine. For most people, the final, real price will be different from the initial, attractive sticker price.
This one small action of downloading your insurer’s app before you need it will save you immense stress during a claim.
Install the Fire Extinguisher Before Your House Is on Fire.
You would never wait until your kitchen is on fire to run to the store and buy a fire extinguisher. You need to treat your insurer’s mobile app the same way. The simple, proactive action of downloading the app, setting up your account, and learning the basic features before you are standing on the side of the road after a car accident is a crucial piece of emergency preparedness. In the stressful, chaotic moments of a claim, you will be deeply grateful that your most powerful tool is already installed, logged in, and ready to go.
Use an online will-making service that integrates with your life insurance, not a traditional, expensive lawyer for a simple will.
The “TurboTax” for Your Estate Plan.
For a person with a simple, straightforward financial life, hiring a traditional lawyer to draft a will is like hiring a high-priced CPA to do your simple 1040EZ tax return. A modern, online will-making service is the TurboTax for estate planning. For a fraction of the cost, these platforms can guide you through a simple, intuitive process to create legally valid wills and other documents. The best ones will even integrate with your financial accounts, helping you to properly coordinate your life insurance beneficiaries with your overall plan.
Stop being surprised by your renewal premium. Do use a provider that offers predictive pricing and explains why your rate is changing.
The “Transparent” Bill vs. the “Mysterious” Price Hike.
The old way of insurance was to send you a renewal bill with a higher price and no explanation, leaving you frustrated and confused. The modern, tech-enabled approach is all about transparency. A new generation of insurers are using predictive analytics to not only set your price, but to also explain it to you. They will provide a clear, easy-to-understand breakdown of exactly why your rate has changed, showing you the impact of both your personal driving habits and the external factors in your area.
Stop trying to describe your car accident over the phone. Do use an app that provides a guided accident report with photo uploads instead.
The “Jigsaw Puzzle” vs. the “Step-by-Step” Instruction Manual.
Trying to explain the complex, chaotic details of a car accident over the phone to an adjuster is like trying to describe a jigsaw puzzle piece by piece. It’s confusing, and you are guaranteed to miss important details. A modern insurance app provides a guided, step-by-step instruction manual for reporting the accident. It will prompt you for the specific information it needs, in the right order, and allow you to upload photos of the damage and the documents right from the scene. It turns a chaotic mess into a clear, simple, and accurate report.
The #1 secret is that the “insurance score” used to price your policy is being supplemented by a “digital score” based on your online behavior.
Your “Financial Footprint” and Your “Digital Footprint.”
The secret that most people don’t know is that the insurance industry is moving beyond just your credit-based “insurance score.” They are beginning to incorporate a “digital score.” This is a new, and somewhat controversial, rating factor that is based on your vast and publicly available online behavior—your social media activity, your shopping habits, the websites you visit. They are using this massive stream of data to build an even more detailed and predictive picture of your personal risk profile. Your digital footprint is becoming part of your financial footprint.
I’m just going to say it: In the future, your insurance will be embedded directly into the products you buy, like a car or a flight.
The “Built-In” Insurance That’s Always On.
The future of insurance is not a separate product that you have to go out and buy. It will be a seamless, “embedded” feature that is built directly into the products and the services you use every day. Your new Tesla will come with the insurance already included in the monthly payment, with the premium dynamically adjusting based on your real-time driving data. Your plane ticket will have the travel insurance built directly into the price. It will be an invisible, always-on utility, like the electricity that powers your home.
The reason your new policy was so cheap is that the insurtech you used has lower overhead costs than a traditional carrier with thousands of offices.
The “Cloud-Based” Business vs. the “Brick-and-Mortar” Empire.
A traditional, legacy insurance carrier is a massive, brick-and-mortar empire. They have thousands of physical offices, a huge army of agents, and a vast and expensive corporate infrastructure. A modern insurtech company is a lean, “cloud-based” business. They have no physical offices, a smaller and more efficient workforce, and a lightweight, digital-first operating model. The reason their policy is often cheaper is simple: their cost of doing business is dramatically lower, and they can pass those savings on to you.
If you’re still not using telehealth services, you’re losing a convenient and cost-effective benefit of modern health insurance.
The “FaceTime with Your Doctor” That Is the New House Call.
The old-fashioned doctor’s house call is back, but in a new, high-tech form. Telehealth is the modern house call. For a minor, non-emergency issue, the ability to have a live video chat with a board-certified physician from the comfort of your own couch is a game-changer. It is not only incredibly convenient, saving you a trip to the doctor’s office, but it is also often a much more cost-effective option, with a co-pay that is a fraction of what you would pay for an in-person visit to an urgent care clinic.
The biggest lie is that established insurance companies aren’t innovating; they are heavily investing in and acquiring insurtech startups.
The “Giants” Are Buying the “Speedboats.”
The lie is that the big, old, sleepy insurance giants are being left in the dust by the nimble, new startups. The reality is that these giants are not sleeping; they are shopping. They are using their massive capital reserves to act as the venture capitalists of the insurance world. They are actively investing in, partnering with, and acquiring the most promising insurtech startups. They are buying the innovative “speedboats” and integrating their new, powerful engines into their own, massive battleships.
I wish I knew that there were apps to help me manage and compare all my different insurance policies in one place.
The “Mint.com” for Your Insurance Portfolio.
You have apps to manage your bank accounts, your investments, and your budget. But your insurance policies are likely a messy pile of paper in a drawer. There are a new generation of apps and digital platforms that are acting as the “Mint.com” for your insurance life. They allow you to link all of your different policies—your home, your auto, your life—into one, simple, digital dashboard. This gives you a clear, holistic view of your entire protection plan, helping you to spot gaps and identify opportunities to save.
99% of people make this one mistake: they give up on a usage-based insurance program after one bad score, not realizing it’s based on long-term trends.
The “One Bad Test” vs. Your “Final Grade.”
Getting a bad score after one or two trips in a telematics program can be discouraging. The mistake is to give up immediately. It’s like a student dropping a class after getting a “C” on the first quiz. The insurance company is not interested in your one bad day; they are interested in your long-term average. Your final “grade,” and your final discount, will be based on your overall driving trends over several months. A few bad trips will not ruin your score if the vast majority of your driving is safe and responsible.
This one small action of enabling location services on your phone can help your insurer provide roadside assistance to your exact location.
The “GPS Beacon” for Your Rescue Team.
When you are stranded on the side of a dark, unfamiliar road with a flat tire, trying to explain your location to a dispatcher can be a stressful and inaccurate process. The simple action of enabling location services on your insurer’s mobile app turns your phone into a powerful GPS beacon. When you request roadside assistance through the app, it can transmit your exact, pinpoint coordinates to the tow truck driver, ensuring that your rescue team can find you quickly and efficiently, without any confusion or delay.
Use a company that leverages machine learning to give you proactive safety tips, not just penalize you for bad driving.
The “Driving Coach” vs. the “Driving Critic.”
The first generation of telematics was a simple critic. It just watched you and gave you a grade. The next, and much more powerful, generation uses artificial intelligence to be your personal driving coach. The app will not just penalize you for a hard braking event; it will analyze the pattern of your driving and proactively send you a message like, “We noticed you tend to brake hard at this specific intersection. There is a high rate of accidents there. You might want to try a different route.” It’s a tool for improvement, not just judgment.
Stop dealing with a slow, paper-based claims process. The future is “touchless claims” handled entirely by AI.
The “Automated Teller Machine” vs. the “Human Bank Teller.”
The old claims process is like waiting in a long line to see a human bank teller. The future of claims is the ATM. A “touchless claim” is a process that is handled almost entirely by artificial intelligence. You can upload photos of your minor car damage, the AI will analyze them and instantly calculate the repair cost, and it will send an electronic payment to your account, all in a matter of minutes, with no human intervention required. It is a faster, more efficient, and more convenient future for simple, straightforward claims.
Stop thinking your smart thermostat is just for comfort. Do let it prove to your insurer that your home is well-maintained.
The “Silent Witness” to Your Responsible Homeownership.
Your smart thermostat is a powerful data-gathering device. It knows if you are home or away, and it knows that your heating and cooling system is functioning properly. This data is a silent witness that can prove to your insurance company that you are a responsible homeowner. By sharing this data, you can show them that your home is not sitting vacant and that your pipes are not at risk of freezing in the winter. It is another piece of the puzzle that helps them to see you as a lower-risk, and therefore lower-premium, customer.
The #1 hack for insuring a gig economy side hustle is finding an insurtech that offers episodic, on-demand coverage.
The “Hour-by-Hour” Insurance for Your “Hour-by-Hour” Job.
The gig economy has created a new type of work that is measured in hours, not years. The old, annual insurance policy is a terrible fit for this. The #1 hack is to find a modern insurtech company that offers “episodic” insurance. It is the on-demand, hour-by-hour coverage that is designed for your life. You can turn on a special liability policy for the three hours you are walking a dog for Rover, or for the day you are doing a freelance photography shoot, ensuring you are only paying for the protection for the exact time you are actually at risk.
I’m just going to say it: The data you provide to your insurance company is incredibly valuable, and you should be rewarded for sharing it.
You Are Not Just the Customer; You Are Also the Product.
In the modern, digital economy, data is the new oil. The real-time driving data that you provide to your insurance company through a telematics app is an incredibly valuable asset for them. They use it to refine their pricing models and to better understand risk. You should not just be giving this valuable asset away for free. You must demand to be rewarded for it. A significant discount on your premium is the fair and equitable trade for the valuable, personal data that you are choosing to share with them.
The reason you can now buy life insurance on your lunch break is due to the digitization of the entire underwriting process.
The “Digital X-Ray” That Replaced the “Physical Exam.”
The reason life insurance used to take six weeks to get was the slow, manual process of a physical medical exam and the waiting for the lab results. The modern, digital-first approach has completely transformed this. “Accelerated underwriting” uses a “digital x-ray”—a high-speed analysis of your public and private data—to make an instant decision for healthy applicants. This digitization of the entire risk assessment process is what has turned a multi-week ordeal into a simple transaction that you can complete on your phone during your lunch break.
If you’re still getting generic advice from your agent, you’re losing the benefit of hyper-personalized recommendations from an AI-driven platform.
The “One-Size-Fits-All” Brochure vs. the “Custom-Tailored” Suit.
A traditional agent, with their limited time and tools, will often give you a generic, “one-size-fits-all” recommendation. A modern, AI-powered platform is a master tailor. It can take in hundreds of data points about your unique financial life, your family, your goals, and your risks, and it can instantly craft a hyper-personalized, custom-tailored suit of insurance recommendations that are a perfect fit for you. It is the difference between a generic brochure and a truly bespoke piece of financial advice.
The biggest lie is that technology is a threat to the insurance agent; it’s a tool that makes the best agents even better.
The “Power Tool” That Turns a Craftsman into a Master.
The lie is that technology is going to replace the human insurance agent. The reality is that it will replace the mediocre, transactional agent. For the great agents, technology is a powerful new set of tools that will make them even better. It is the power tool that can automate their administrative work, a digital marketing engine that can help them find new clients, and an AI-powered co-pilot that can help them provide more sophisticated advice. Technology will not replace the great agents; it will elevate them.
I wish I knew that I could use my phone’s camera to get a quote for my home insurance based on the visual data.
The “Photo” That Is Worth a Thousand Data Points.
The new frontier of insurance quoting is visual data. I wish I had known that some insurtech companies now allow you to get a homeowners insurance quote by simply taking a few pictures of your home with your smartphone. Their AI can analyze these photos to instantly determine the age and condition of your roof, the type of siding you have, and other key rating factors. It is a faster, more accurate, and more engaging way to get a quote, turning your camera into a powerful underwriting tool.
99% of people make this one mistake: they don’t understand the privacy policy of the insurance app they are using.
The “Terms and Conditions” You Clicked “Agree” on Without Reading.
We are all guilty of it. We download a new app, we scroll to the bottom of the long, dense privacy policy, and we click “Agree” without reading a single word. This is a huge mistake with an insurance app. That document is a legally binding contract that explains exactly what data the company is collecting from you, how they are using it, and who they are sharing it with. You must understand the rules of the game you have just agreed to play with your most personal and sensitive information.
This one small action of reading reviews on an insurer’s app in the app store will tell you a lot about their tech capabilities and customer service.
The “Digital Report Card” That Is Written by Real Customers.
Before you buy a policy from a modern, tech-focused insurer, you must do this one small thing: go to the Apple App Store or the Google Play Store and read the reviews for their mobile app. This is the real, unfiltered “digital report card” for the company. The reviews will give you a brutally honest assessment of their technological competence, their user experience, and, most importantly, their customer service when things go wrong. It is one of the most honest and revealing windows into the soul of the company.
Use an insurer that offers a “try before you buy” telematics program, so you can see your potential discount without it affecting your current rates.
The “Free Sample” for Your Driving Data.
Committing to a full-time telematics program can be intimidating. A “try before you buy” program is the perfect, no-risk “free sample.” Many companies now offer a trial version of their app that you can use for a few weeks. It will track your driving and show you the exact discount you would qualify for if you were a customer, all without having any impact on your current insurance. It is a powerful, transparent way to see if your driving habits are a good fit for their program before you make any commitment.
Stop thinking your home security camera is just for security. Do use it to document a theft or damage for a claim.
The “Silent Witness” for Your Insurance Adjuster.
Your home security camera is not just a deterrent for thieves; it is an unbiased, 24/7 witness for your insurance company. The high-definition footage of a burglar breaking into your home is an ironclad piece of evidence for your theft claim. The timestamped video of a hailstorm damaging your roof or a pipe bursting in your basement is the ultimate proof of loss. Your security camera is one of the most powerful and effective claims documentation tools that you own.
Stop being frustrated by the lack of transparency. Do choose an insurtech that explains your pricing in simple, easy-to-understand terms.
The “Black Box” vs. the “Open Kitchen.”
The pricing of a traditional insurance policy is a frustrating “black box.” A number comes out, and you have no idea how it was calculated. The new generation of insurtech companies are building their brands on transparency. They are the “open kitchen” restaurant. They will often provide you with a simple, clear, and even graphical breakdown of your premium, showing you exactly how your driving record, your car, and your chosen coverages all contributed to the final price. It’s a shift from a secret recipe to an open and honest one.
The #1 secret is that IoT (Internet of Things) devices, from your car to your fridge, will be the future of insurance underwriting.
The “Connected World” That Is Always Reporting Your Risk.
The future of insurance is the “Internet of Things” (IoT). It is a world where all of your devices are connected and are constantly generating a real-time stream of data about your life and your risk. Your car will report on your driving, your smart thermostat will report on your home’s maintenance, your health wearable will report on your lifestyle, and your smart refrigerator will report on your diet. This massive, continuous data stream will allow for a dynamic, pay-as-you-live insurance model that is hyper-personalized to your actual, real-time behavior.
I’m just going to say it: The annual insurance review will be replaced by a continuous, real-time risk assessment powered by your personal data stream.
The “Annual Physical” vs. the “24/7 Fitbit.”
The traditional, annual insurance review is like an old-fashioned, once-a-year physical with your doctor. It provides a snapshot of your health on one specific day. The future of insurance is the 24/7 Fitbit. Powered by the constant stream of data from your connected life, your insurance policy will be in a state of continuous, real-time review. Your risk profile will be constantly and dynamically reassessed, and your premium could adjust up or down on a monthly or even a daily basis, based on the choices you are making in real time.
The reason your health insurance plan is offering you a free Apple Watch is to collect data and incentivize healthier behavior.
The “Golden Handcuffs” for Your Health.
That “free” Apple Watch from your health insurer is not a gift; it is a very smart business transaction. It is a set of “golden handcuffs” for your health. First, it allows the insurance company to collect a massive amount of your personal health data. Second, and more importantly, by offering you rewards and discounts for hitting your step goals and being active, they are using a powerful, data-driven incentive to nudge you towards a healthier lifestyle. A healthier customer is a more profitable customer.
If you’re still faxing documents to your insurance agent, you’re losing the efficiency of secure digital document portals.
The “Horse-Drawn Carriage” vs. the “Secure Email.”
Using a fax machine in the modern, digital world is like trying to send a message with a horse-drawn carriage. It is a slow, insecure, and shockingly outdated technology. Every modern insurance agency and company has a secure, encrypted digital portal for uploading and signing documents. It is the modern, secure email. It is faster, it is more efficient, it provides a clear digital record of your transaction, and it is infinitely more secure than sending your sensitive personal information over an analog phone line.
The biggest lie is that insurtech is only about a slick user interface; the real revolution is in the underlying data analytics.
The “Pretty Face” vs. the “Genius Brain.”
The lie is that the insurtech revolution is just about a pretty, easy-to-use app. That is just the friendly face of the movement. The real, and far more powerful, revolution is the genius brain that is working behind the scenes. The true disruption is in the use of artificial intelligence, big data, and predictive analytics to more accurately price risk, to more efficiently process claims, and to create more personalized and dynamic insurance products than ever before. The app is just the window into the much more powerful engine.
I wish I knew that AI-powered claims analysis could spot a hail-damaged roof from a satellite image and proactively offer a payout.
The “Proactive” vs. the “Reactive” Insurance Company.
The old insurance model is reactive. You have a loss, and you have to call them and start the long process. The future is proactive. I wish I had known that insurance companies are now using AI to analyze high-resolution satellite imagery after a major hailstorm. Their AI can automatically identify the specific houses in the storm’s path that have sustained roof damage. They can then proactively reach out to those homeowners and, in some cases, even deposit a check in their account before they have even filed a claim.
99% of people make this one mistake: they use the same weak password for their insurance portal as they do for other websites.
The “Skeleton Key” That Unlocks Your Entire Financial Life.
Your insurance company’s online portal contains a massive amount of your most sensitive personal and financial information. Using the same, simple password for that portal as you do for your social media or your online shopping is a catastrophic security mistake. It is like creating a single, weak skeleton key that can unlock every single door in your life. A single data breach at any one of those other, less secure websites will give a hacker the key they need to walk right into your financial house.
This one small action of using a digital evidence platform can help you preserve photos and documents for a future liability claim.
The “Digital Safe Deposit Box” for Your Legal Evidence.
After an accident or an incident, your photos, your videos, and your notes are the critical pieces of evidence for a potential future lawsuit. The simple action of using a secure, digital evidence platform (many of which are now available as apps) is like putting that evidence in a time-stamped, tamper-proof, digital safe deposit box. It creates a secure, verified, and legally admissible record of your evidence that can be far more powerful in court than a simple, un-verified photo from your phone’s camera roll.
Use a company that has a strong API, allowing it to integrate with other financial tools you use.
The “Connected” vs. the “Isolated” Financial Tool.
An API (Application Programming Interface) is a digital “handshake” that allows different software programs to talk to each other. An insurance company with a strong, open API is a “connected” financial tool. It can seamlessly integrate with your other financial apps—your budgeting tool, your investment platform, your digital wallet. A company with no API is an “isolated” tool, a walled garden that doesn’t play well with others. In the modern, connected financial world, you want to choose the tools that can work together as a team.
Stop thinking of insurance as a static, annual contract. The future is a dynamic policy that adjusts your premium monthly based on your risk.
The “Fixed Salary” vs. the “Pay-for-Performance” Bonus.
The traditional insurance policy is like a fixed, annual salary. The price is set for one year, regardless of your behavior. The future of insurance is a dynamic, “pay-for-performance” model. Your premium will no longer be a static, annual number. It will be a dynamic, monthly or even daily calculation that is constantly adjusting based on the real-time data stream from your connected life. Your safe driving, your healthy habits, and your secure home will be rewarded with a lower premium, in real time.
Stop waiting on hold. Do use the “call me back” feature that many modern insurance call centers offer.
The “Digital Valet” for Your Phone Call.
Waiting on hold is a soul-crushing and universally hated experience. The simple, and often overlooked, technological fix for this is the “call me back” feature. This is the digital valet for your phone call. Instead of waiting in the long, frustrating line, you can simply press a button, and the system will hold your place for you. When it is your turn, a human agent will call you back directly. It is a simple, elegant, and respectful piece of technology that gives you back your most valuable asset: your time.
The #1 hack is to embrace the technology that gives you more control over your insurance costs and experience.
Be the Pilot of Your Own Insurance Plane, Not Just a Passenger.
The old model of insurance cast you as a passive passenger. You were given a ticket, and you had no control over the flight. The new wave of insurance technology is the key to the cockpit. It allows you to become the active pilot of your own risk management. A telematics app lets you control your premium with your driving. A smart home system lets you actively protect your home. Embracing this new technology is the #1 hack to moving from a state of passive acceptance to one of active, empowered control.
I’m just going to say it: You will eventually have a personal AI risk advisor, not a human insurance agent.
The “Jarvis” for Your Financial Life.
The human insurance agent is the trusted advisor of today. The future is a personal, AI-powered risk advisor. It will be the “Jarvis” from Iron Man for your financial life. This AI will have access to all of your real-time data—your finances, your health, your location, your assets—and it will be in a state of continuous analysis, proactively identifying emerging risks, automatically adjusting your coverages, and providing you with hyper-personalized advice to keep your entire financial world optimized and secure, 24/7.
The reason traditional insurers are struggling to adapt is their massive investment in legacy mainframe systems.
The “Battleship” That Cannot Turn.
A large, traditional insurance company is a massive battleship. It is powerful, it is stable, but it is built on a huge, 50-year-old mainframe computer system that is the technological equivalent of a steam engine. A nimble, new insurtech startup is a speedboat with a brand-new, high-tech electric motor. The reason the battleship is struggling to adapt is that it cannot simply swap out its engine. It is trapped by decades of investment in its old, legacy technology, making it almost impossible to turn quickly and keep pace with the speedboats.
If you’re still worried about a robot denying your claim, you’re losing sight of the fact that a biased human could do the same thing.
The “Objective Robot” vs. the “Subjective Human.”
The fear is that a cold, heartless AI will unfairly deny your claim. But you are losing sight of a crucial fact: a tired, overworked, and potentially biased human adjuster can do the exact same thing, but with less consistency. A well-designed AI is a purely objective and logical tool. It will analyze your claim based on the facts and the language of the contract, without any of the human biases or emotions that can cloud a person’s judgment. In many ways, the robot has the potential to be a much fairer referee.
The biggest lie is that your data is not secure with a new tech company; they often have more modern security protocols than the old giants.
The “Modern Bank Vault” vs. the “Old, Rusty Safe.”
The lie is that a new, unproven tech startup is a risky place for your data. The reality is that these new companies are built from the ground up on modern, cloud-based architecture with the latest, state-of-the-art security protocols. The old, legacy insurance giants are often trying to protect their data inside a massive, but ancient and rusty, old mainframe safe. The new bank vault is often a much more secure and technologically advanced place to store your valuables than the old one.
I wish I knew that I could get a discount on my homeowners insurance for having a smart water meter.
The “Silent Plumber” That’s Always on Duty.
A smart water meter is a powerful, but often overlooked, risk management tool. It is the silent, digital plumber that is constantly monitoring the flow of water into your home, 24/7. It can detect the tiny, abnormal flow of a small leak long before you would ever notice it, and it can send an alert to your phone. By installing this “early warning system” for your home’s plumbing, you are dramatically reducing the risk of a major water damage claim, a proactive step that many insurance companies will reward with a discount.
99% of people make this one mistake: they don’t realize that the “quote” they get online is just an estimate, not a firm offer of coverage.
The “Appetizer” on the Menu, Not the “Final Bill.”
The instant “quote” you receive from an online insurance website is the price of the appetizer on the menu. It is a very good estimate, but it is not the final, legally binding bill. The final, “firm” offer of coverage only comes after the restaurant’s kitchen (the underwriting department) has had a chance to review your full order and run your personal data. The quote is a fantastic tool for comparison shopping, but you must not make the mistake of thinking it is a guaranteed, contractual offer of insurance.
This one small action of looking for an insurer with a high Net Promoter Score (NPS) will tell you about their customer experience.
The “Would You Recommend This Restaurant?” Score.
A Net Promoter Score (NPS) is a simple but incredibly powerful metric. It is based on asking customers one single question: “On a scale of 0 to 10, how likely are you to recommend this company to a friend?” It is the ultimate “word of mouth” score. The simple action of looking for an insurance company with a high NPS is a shortcut to understanding their true customer experience. It is the most honest and direct measure of whether a company’s real, existing customers are happy and loyal, or frustrated and looking to leave.
Use a digital-first insurer if you prefer to manage everything on your own time, not just during business hours.
The “24/7 Self-Service” vs. the “9-to-5” Gatekeeper.
A traditional insurance agency operates on a classic, 9-to-5 schedule. If you need something done, you have to do it on their time. A digital-first insurer is a 24/7, self-service platform. It is designed for the modern consumer who wants to be able to get a quote, make a policy change, or file a claim at 10 o’clock at night from their couch, on their own time. It is a model that is built around your schedule, not the other way around.
Stop being a passive consumer of insurance. Do use new technologies to become an active manager of your own risk profile.
The “Passenger” vs. the “Pilot.”
The old model of insurance cast you as a passive passenger. You were given a risk profile, you were given a price, and you had very little control over the journey. The new wave of insurance technology is the key that unlocks the cockpit door. A telematics app, a smart home sensor, a health wearable—these are the tools that allow you to become the active pilot of your own risk profile. You now have the power to use your own, real-time data to actively manage your behavior and directly control the price you pay.
Stop fearing the black box of telematics. Do demand transparency from the insurer about what data they are collecting and how it’s used.
The “Secret” Recording vs. the “Open” Conversation.
The fear of a telematics “black box” is the fear of a secret, unknown spy in your car. The way to combat this is to demand transparency. A good, modern insurance company will not be secretive. They will provide you with a clear, easy-to-understand dashboard that shows you the exact same data they are seeing. They will be transparent about what behaviors they are tracking and exactly how those behaviors are impacting your score. You should not be afraid of the technology; you should demand that it be an open and honest conversation.
The #1 secret is that the most successful insurtechs are the ones that partner with traditional insurers, combining new tech with old-school financial stability.
The “Speedboat” Towed by the “Battleship.”
The secret of the insurtech world is that the most successful and durable companies are not the ones who are trying to sink the battleships; they are the ones who are tying a rope to them. The ultimate winning formula is a partnership. The insurtech “speedboat” provides the sleek, modern, user-friendly technology and the innovative ideas. The traditional, legacy “battleship” provides the massive, multi-billion dollar balance sheet, the regulatory approvals, and the decades of financial stability. It is the perfect combination of new-school tech and old-school trust.
I’m just going to say it: The future of insurance is personalized, proactive, and preventative, not just reactive and compensatory.
The “Fire Department” That Also Fireproofs Your House.
The old model of insurance is purely reactive. It is the fire department. It is a fantastic, essential service that shows up to pay for the damage after your house has already burned down. The future of insurance is proactive and preventative. It will be the fire department that also uses your smart home data to help you fireproof your house, gives you a discount for your good behavior, and warns you about a potential fire hazard before it ever starts. It will be a partner in prevention, not just a checkbook for the ashes.
The reason you’re getting so many targeted ads for insurance is because data brokers are selling your online behavior to them.
The “Digital Breadcrumbs” That Lead the Advertisers to Your Door.
As you travel across the internet, you are leaving a trail of “digital breadcrumbs”—the sites you visit, the things you search for, the articles you read. A massive, hidden industry of “data brokers” is collecting these breadcrumbs and bundling them into a detailed profile about you. If you have recently searched for a new car or looked at mortgage rates, they will sell this “in-market” signal to the insurance companies, who will then use it to target you with a barrage of hyper-specific, and sometimes creepy, online ads.
If you’re still not comfortable with this new tech, you’re losing out on potential savings, but you can still find traditional agents who will serve you well.
The “Self-Driving Car” vs. the “Trusted Chauffeur.”
The new, high-tech, digital-first insurance model is like a sophisticated self-driving car. It is efficient, it is powerful, and it can offer a great ride. But if you are not comfortable with the technology, that is perfectly okay. You are not being left behind. The traditional, human-powered model of a trusted, local agent is still a fantastic and viable option. It is the experienced, professional chauffeur. You might be giving up some of the high-tech features, but you can still get a safe, reliable, and comfortable ride to your destination.
The biggest lie is that technology can solve all of insurance’s problems. The human element of empathy and advice will always be crucial.
The “Brilliant Robot” That Cannot Hold Your Hand.
The lie is that technology is a magic wand that can solve every problem in the insurance industry. The reality is that a brilliant AI can process a claim with lightning speed, but it cannot sit with a grieving family and offer a word of human comfort. It can analyze a billion data points to find the perfect policy, but it cannot provide the wise, empathetic counsel that a great human advisor can. Technology is a powerful tool, but it will never be able to replace the deeply human and emotional elements of trust, empathy, and advice.
I wish I knew that the QR code on my digital ID card could be scanned by law enforcement or a healthcare provider for instant verification.
The “Digital Handshake” That Proves You’re Covered.
That little, black-and-white square on your digital insurance ID card is not just a picture; it is a powerful tool. It is a QR code that acts as a secure, digital handshake. When it is scanned by a police officer or a hospital’s billing department, it can instantly and securely verify, in real time, that you have an active and valid insurance policy. It is a faster, more accurate, and more secure way to prove your coverage than a simple, and potentially outdated, piece of paper.
99% of people make this one mistake: they don’t back up the data from their insurance apps and portals.
The “Digital Filing Cabinet” That Lives in Only One Place.
We have come to trust that the data in our apps is safe and permanent. But your digital insurance portal is a filing cabinet that is owned and controlled by someone else. The simple, prudent action of periodically downloading a copy of your policy documents, your ID cards, and your claim history from the portal is a crucial backup. It is like making a personal copy of the most important files from your office. It ensures that you have your own, personal record of your insurance life, independent of the company’s system.
This one small action of trying out a new insurance app, even if you don’t buy, will show you what the future of the industry looks like.
The “Test Drive” of the Future.
You might not be ready to buy a new car today, but a test drive will show you what is possible. The same is true of insurance. The simple, no-risk action of downloading a new, modern insurtech app and going through its quoting process is a “test drive” of the future. It will show you the power of a clean user interface, a fast and intelligent application, and a more transparent and customer-centric approach. Even if you don’t switch today, it will give you a powerful new baseline for what you should expect from your insurance provider.
Use technology to make you a more informed and empowered insurance customer, not just a more easily tracked one.
The “Tool” vs. the “Weapon.”
The new wave of insurance technology is a powerful double-edged sword. In the hands of the insurance company, it can be a weapon, used to track you, to create a more invasive risk profile, and to justify higher rates. But in your hands, it can be a powerful tool. It can give you access to more information, more choices, and more control over your own data and your own price than ever before. You must consciously choose to be the wielder of the tool, not the target of the weapon.