“I have a great idea! We should get into the high-risk / non-standard market! Our system will work better than everybody else’s! We’ll make millions!” – *Random insurer CEO*
<time passes>
“Oh God! the loss ratio!”
<CEO takes golden parachute and retires to Florida just as the shit hits the fan.>
“We have to get out of this clusterfuck! Sell it all!” – *New CEO.*
If you stay in the business long enough you’ll see this cycle repeat over and over. Sometimes they quickly get out of non-standard like they accidentally touched a hot stove, but other times it’s a disaster. If nothing else it’s a good idea you keep it far separated from your core business so you don’t ~~taint it with the stench of the poors~~ incur reputational risk.
Magik160 on
Maybe Im glad I never got a position there
Magik160 on
Now I wonder. AmFam had positions through Nashville as well. I wonder if those positions are at risk with The General being moved to Sentry? I was applying here over the last 6 months for positions. Maybe I a glad I didnt get selected.
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“I have a great idea! We should get into the high-risk / non-standard market! Our system will work better than everybody else’s! We’ll make millions!” – *Random insurer CEO*
<time passes>
“Oh God! the loss ratio!”
<CEO takes golden parachute and retires to Florida just as the shit hits the fan.>
“We have to get out of this clusterfuck! Sell it all!” – *New CEO.*
If you stay in the business long enough you’ll see this cycle repeat over and over. Sometimes they quickly get out of non-standard like they accidentally touched a hot stove, but other times it’s a disaster. If nothing else it’s a good idea you keep it far separated from your core business so you don’t ~~taint it with the stench of the poors~~ incur reputational risk.
Maybe Im glad I never got a position there
Now I wonder. AmFam had positions through Nashville as well. I wonder if those positions are at risk with The General being moved to Sentry? I was applying here over the last 6 months for positions. Maybe I a glad I didnt get selected.