What Jake and Flo Aren’t Telling Us: Disruptions Constantly Change the Insurance Industry
Auto and home insurance bundles, umbrella policies, constant arguments about paying for healthcare (especially during a pandemic), and thousands of streaming and social commercial advertisements pushing different providers as being the best option for the average Joe and Jane.
Yes, we are talking about insurance and its many pros and cons. But what Flo from Progressive, the Geico Gecko, and the ever-popular Jake from State Farm may not be able to tell you is where the insurance industry is heading. And truth be told, you do not need them to do so — you can use your own Anticipatory mindset to decode the disruptions that will change the insurance industry from this point forward.
As a consumer, this general concept may strike fear into your heart — or, conversely, bring much-needed relief. It is no secret whatsoever that the consumer-facing side of the insurance sector is complicated, no matter how easy advertisements and salespeople try to convince individual consumers the process of obtaining insurance will be. Disruptions — and better yet, digital disruptions — that turn the insurance industry on its head are meant to ease the common pain points customers face.
And as an insurance professional or a business owner in the insurance industry, digital disruptions should bring you joy — your life will be easier, your customers will be happier, and most importantly, new doors will open to better opportunities to help the masses and scale your organization. However, those who fear these new digital disruptions do so because they feel them to be unpredictable and earth-shattering.
The Real Problem: Life Changes Drive Insurance Changes
Getting in front of any type of digital disruption is easy, as has been demonstrated by my Anticipatory Leader System. But those in the insurance industry, just as in all other industries, who do not embrace the principles of an Anticipatory mindset are frequently left to dread disruption and change.
One of my favorite principles from my Anticipatory Leader System is the Skip It Principle, because it is a straightforward way to start to peel the onion of an issue that shakes up your…