There’s a very good reason why there are such stringent regulations surrounding financial institutions and why you have to jump through so many hoops to eventually get your slice of a market such as that of the insurance industry and that reason is that what you’re essentially in on when you get clearance to operate are some very low-hanging money fruit. I could go buck-wild with all the different clichés to describe what it’s like – shooting fish in a barrel, taking candy from a kid, etc.
The only catch (and it’s a very big catch) is that the barriers to entry are like seriously high, which also suggests that the only people who are really in line to enjoy these train rides are those who are already riding tandem trains which are running at similar speeds to the ones they want to experience riding as well. There’s like an elitist group which has created a ring-fence around the very lucrative core that is the financial sector and this is not even making reference to the financial sector in its entirety. The insurance sector alone is enough to create generational wealth beyond measure.
In the insurance industry the job of a Chief Business Analyst is about as easy as things can get by way of being able to make very accurate predictions as to where quite a bit of money is going to come from, consistently. If I’m to expand on the low-hanging fruit analogy, it’s simply a matter of being able to predict where all these trees are going to grow optimally, waiting for Mother Nature to plant them on your behalf, and then when the fruit those trees bear are in season, simply walking up to them and picking the low-hanging ones which are plentiful.
Auto insurance seems a pertinent example to explore because it’s perhaps the most basic and straight-forward application of the concept of taking out insurance, but where the low-hanging money fruit analogy comes into play is when you take into consideration the numbers around the auto insurance industry. At this particular point in time, the auto insurance industry and market is so well-established that all you really need to do to get in on the action is have enough capital reserves to have a business plan drawn up for you by a leading auditing firm that pretty much guarantees the success of the business model.
Decades and decades of records collected by the Actuaries department pretty much hands you profits on a silver platter since the smallest details are now common knowledge, like how many claims are filed on average, per year.
Things perhaps become even clearer when we look at how insurance is applied to the likes of family law, particularly divorce law. It isn’t just the leading divorce lawyers like Alliance Law Group who are privy to statistics such as those of how fifty percent of all marriages end in divorce. If want to get into the business of family law insurance, the low-hanging fruit are not just staring you in the face, but are blinding your eyes with the halo shining around them.
Author: Oliver Curtis
Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.