Frictionless Insurance in a Land of Utility
By Nigel Walsh
Partner, Deloitte
Imagine a world where “it just works”. A phrase that was made famous by the world’s most valuable company and most identifiable organizations – you would argue the two are not a coincidence!
“It just works” is a phrase that needs no introduction for most and it is usually delivered with such precision and poise that by default comes with a lifelong guarantee that even just reading it out loud brings most of us a warm smile. We know what it is and we trust it by default.
Of course this refers to an object that most happen to spend a lot of time on, but it won’t necessarily save your life or be there for you in a crisis. It may of course play a material part in that journey – more on that later, should you ever need it.
No one wanted a music player, a phone, and an Internet device all in one (no one was ever asked!), or ever imagined these three unique things coming together until you gave it to them. Now you would find it hard to buy a device that wasn’t this smart by default.
Devices that now can cost nearly £800, described with words that ooze empathy and feeling. It’s never about what they do per se, more what they enable the owner to do with them. Equally, you open the box, there’s no terms and conditions and no manual. It’s intuitive so that almost anyone can work their way through it in no time at all. This for me can be summarized as simplicity.
Moving away from this to what I consider to be ...
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