Below is a link to a short story submitted to a Speculative Fiction Contest held by the Society of Actuaries. It depicts the 10-year horizon in the world of Auto Insurance, Bitcoin and Artificial Intelligence.
I think the combination of autonomous vehicles and Bitcoin’s blockchain platform are poised to change society in ways few could imagine only a decade ago. This short story portrays a very plausible, and in my opinion probable, near future for our industry. Electric vehicles, the safety inherent in autonomous cars, and the disruptive power of crypto-currencies over fiat currencies, will all culminate in paradigm shifts within the insurance, banking and finance industries, especially for those of us in sales positions.
If we worry about the commoditization of Personal Auto insurance, striving to differentiate ourselves through claims service, what shall we do when 81% of collision claims go away?
So, when you need a good mental break from work, follow the link below and let me know your thoughts!
Blockchain Insurance Co.
written by Gennady Stolyarov II, ASA, ACAS, MAAA, CPCU, ARe, ARC, API, AIS, AIE, AIAF