Profiles in Risk

Show Notes: https://insnerds.com/wp-content/uploads/2017/04/113u61.jpg Nick's flood paper: http://www.naic.org/documents/cipr_study_1704_flood_risk.pdf

Show Notes: Our book: http://amzn.to/2oqVXwU Average age of an insurance pro in the US is about 60 years old The number of insurance pros over 55 has increased by 74% between 2002-2012 compared to 45% in overall workforce (McKinsey & Company Building a Talent Magnet) There's 80 million Boomers, 60 million Xers and 80 million Millennials. That 25% difference with so few Xers is a huge deal By 2014 Millennials were already largest generation in the US (Council of Economic Advisers) By 2025, 3 out of 4 workers will be Millennials (https://www.bdcnetwork.com/workplace-design-trends-make-way-millennials) Only 4% of Millennials are interested in working in Insurance (The Hartford - A Generation of Leaders) RMI programs only exist at 70 schools (out of 3,000+) and only feed 10-15% of our new talent needs each year (McKinsey Building a Talent Magnet) 30% more Boomers in insurance than in the overall economy (McKinsey Building a Talent Magnet) 88% of CPCU Members are over 40 years old Only 41% of Millennials expect to be at their current job in 2 years (Gallup There's no job millennials won't leave) Since 2015 Millennials are already largest generation in the workforce Insurance companies expect 25% retirements in the next 4 years (2017 Insurance Industry Employment and Hiring Outlook Survey) some expect it in the next 2 years (2016 Insurance Industry Trends) Only about 25% of insurance workforce is under 35 years old (Solving the Insurance Industry Talent Crisis by Investing in RMI Graduates - IRMI) Only 2% of recent grads express an interest in insurance (Accenture - The Insurance Workforce of the Future) 66% of Millennials plan to be at a different company in 3 years (2016 Deloitte Millennial Survey) Good people, awful structure = crappy managers

Show Notes: Wesley Todd: https://www.linkedin.com/in/wesley-todd-a9225929/ Casglide: http://www.Caseglide.com http://www.insurancejournal.tv/videos/12272/ https://www.caseglide.com/blog/ https://www.linkedin.com/pulse/improve-collaboration-between-claims-underwriting-your-grant-woolven http://stoptexaslawsuitabuse.com/ https://en.m.wikipedia.org/wiki/Wally_Pipp https://en.m.wikipedia.org/wiki/Billy_Beane

Your favorite nerds have fun discussing the most unlikely of topics: regulation! Show Notes: At around minute 16 Carly forgets the term for "Adverse Selection" which Tony will never let her live down! :-D Personal Auto Rate: http://www.insurancejournal.com/news/national/2017/03/30/446206.htm Policyholders in Limbo: https://www.nytimes.com/2017/04/01/business/policyholders-in-limbo-after-rare-failure-of-insurer.html Article about how Personal Lines is advertised: Sleeping with the Enemy: https://insnerds.com/sleeping-enemy-might-way-save-personal-lines/ What if life expectancy hits an exponential curve? https://www.ted.com/talks/aubrey_de_grey_says_we_can_avoid_aging Leave us a review on iTunes: https://itunes.apple.com/us/podcast/profiles-in-risk/id1209984530?mt=2 then click on "View in iTunes" then click on "Leave a Review". Thanks! Request a career chat with Tony: http://ChatWithTony.com

Your favorite insurance nerds Nick, Carly and Tony discuss whether insurance is gambling. Show Notes: Gambling Article: http://www.bbc.com/news/business-38905963 Lemonade 80% article: https://www.lemonade.com/blog/saving-80-90-seconds/ Nassim Taleb books: The Black Swan: https://www.amazon.com/gp/product/081297381X/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&tag=insn-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=081297381X&linkId=98e64d55935a1b624ffa5daafc15a0ca Fooled by Randomness: https://www.amazon.com/gp/product/0812975219/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&tag=insn-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=0812975219&linkId=bca5847b46659a4389c6cd229bc560dd Antifragile: https://www.amazon.com/gp/product/0812979680/ref=as_li_qf_sp_asin_il_tl?ie=UTF8&tag=insn-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=0812979680&linkId=e5f7b5e2632e98155d888211522aa6f9 Hurricane Andrew - Nature's Casino Michael Lewis: http://www.nytimes.com/2007/08/26/magazine/26neworleans-t.html IoT Article: https://insnerds.com/iot-partnership/ FM Global - Basically an engineering firm that sells insurance: http://www.fmglobal.com/ Tim Harford Amazon Author Page: https://www.amazon.com/Tim-Harford/e/B003CHGYPI

Nick, Carly and Tony discuss innovation in the Insurance and InsurTech industries and whether a carrier can innovate like a startup. Show Notes: The Medici Effect by Frans Johansson. Kill the Company by Lisa Rodell. Insurify article: https://www.dig-in.com/news/insurtechs-sell-coverage-with-facebook-messenger-chatbots Peter Hancock AIG article: http://www.insurancejournal.com/news/national/2017/03/15/444464.htm ITA Announcement about Erie Bridge Award: http://www.marketwired.com/press-release/erie-insurance-digital-partners-slice-labs-partnership-awarded-2017-ita-bridge-awards-2202447.htm

Show Notes: Lemonade article: https://www.lemonade.com/blog/saving-80-90-seconds/ Author who writes for Vox: Sarah Kliff http://www.sarahkliff.com/

Nick interviews the CEO of Livegenic in our first podcast interview. They discuss life as a startup, their value proposition, and about the startup scene in Philadelphia.

The nerds discuss our newest coauthor Taryn and her moving story about finding a home in insurance that allows her to be herself and Nick's article about the importance of sales skills. Then they discuss #InsurTech. Insurance included when you a car or even another product. Carriers transitioning to risk managers as opposed to claims payers. Transition from personal liability to product liability. The 2016 Buffett Letter to the Shareholders of Berkshire Hathaway. Tony confesses the REAL reason we brought Nick into the team.

In Episode One your hosts introduce themselves, tell their story and talk about InsNerds. Nick talked about how the book Against the Gods got him hooked on insurance. Check it out, tell your friends and let us know what you think