Tune In To Insurance Reality TV!
For two years now, I’ve been telling anyone who’ll listen that the industry’s lousy reputation is, for the most part, undeserved, and that carriers must take ownership of the problem and start touting all the good they do for society. Then along came Bob Hartwig’s recent speech at the 50th anniversary celebration of the Insurance Institute for Highway Safety, which pointed out that insurers don’t get enough credit for all the lives they save and injuries they help people avoid.
(The speech by Mr. Hartwig, president of the Insurance Information Institute, formed the basis for NU’s Nov. 2 cover story, which will be available online later today at www.property-casualty.com. I’ll add a direct link when it goes live.)
Besides pointing out how many lives have been saved and injuries avoided because of the outstanding efforts of IIHS, Bob hailed the Institute for Business and Home Safety, which is working on its most ambitious project yet—the construction of an Insurance Center for Building Safety Research.
Bob also noted how workers’ comp insurers have helped make the workplace so much safer, as demonstrated by the continuing drop in loss frequency.
Last but certainly not least, he even cited the industry’s most fundamental concept—loss-based underwriting and pricing—for altering the risk management mindset of Corporate America, resulting in safer products, buildings and other goods and services.
The problem is most “civilians”—those outside the industry—aren’t aware of all the industry does to promote safety.
In my stump speech on “The Insurance Industry’s Reputation and Its Impact On The Bottom Line,” I suggest a TV show featuring insurers in action, with tongue only partially in cheek. But I am starting to think this could be a really good idea.
There is a reality TV show for everything these days. We’re grown way beyond “Survivor” or “The Amazing Race” to stick a camera into every aspect of life. Niche programs such as “Cake Boss” on TLC–featuring Buddy Valastro of Carlo’s City Hall Bake Shop, right around the corner from our office here in Hoboken, N.J.—are drawing loyal audiences.
Sometimes, these programs can get pretty bizarre–such as “Hoarders,” which A&E pitches as “a fascinating look” at people “whose inability to part with their belongings is so out of control that they are on the verge of a personal crisis.” So who’s to say an insurance reality show wouldn’t draw viewers?
In my speech on reputational risk, I urge insurers to take TV news crews into catastrophe areas with adjusters to show how they help people recover and rebuild their lives, often cutting checks on the spot from their mobile offices. That could easily be pitched as a reality show, “Masters Of Disaster,” with the happy ending being the restoration of homes and businesses—another popular theme in this genre.
I imagine IIHS could provide some pretty provocative video of crashes, showing how the organization’s work helps save lives and prevent injuries. Cars with a good rating from IIHS could be prime advertisers—promoting the relative safety of their vehicles.
IBHS might consider something similar on the non-auto property side, featuring the work that will be done at their new research facility once its doors are open. FM Global, with its own state-of-the-art property risk management lab, could play a part on the program as well.
Shows like this might not only be entertaining, but would portray the industry in a new and far more positive light—as people who care about their customers, and who go above and beyond to make sure we’re all safe and financially secure.
What do you folks think? What insurance reality TV shows might you suggest?
(The hilarious cartoon accompanying this post came off of the blog www.realitytvworld.wordpress.com.)
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When I speak before high school students about considering insurance as a career, I always try to make two basic points:
(1) Almost nothing would happen without insurance and
(2) There is an insurance job for every skill or interest a person may have.
Having a TV program that relates to those two items would be a great step forward for our industry.
When I viewed the YouTube video called “Matt Dancing,” I thought it would be great to do the same thing, only in boardrooms of insurance companies, insurance agencies and brokerages, MGAs, state insurance departments, ISO, etc. To show the public that, as Chris Amrhein knows, insurance is fun!
As for possible reality tv shows, how about:
–”Insurance Idol”
–”Insurance Mythbusters”
–”America’s Funniest Insurance Claims”
–”Law & Order: Insurance Fraud”
–”The Young and the Uninsured”
–”Dog the Claims Adjuster”
–”The Insurance Office”, etc., etc., etc.
We could do game show versions of “You Bet Your Life If You’re Uninsured” or “Wheel of Misfortune.”
I love this idea, and if you ever seriously start working on this, count me in!!!
Twenty years ago I would have said that the reality series would have been a great idea. Today, that would be the worst thing you could ever do for the property and casualty side of the business.
Today, in personal lines at least, the carriers depend so much on the computer programs to determine the acceptablilty of a risk, the pricing and later on the payment of a claim if one is presented. The interaction of the human is minimal at least at the time of application. Maybe there is an agent maybe not.
If there is something amiss or missing, the computer kicks it out or rates/prices the policy out of reach, forcing the applicant to go elsewhere. Good luck finding a human to listen to you.
Then if there is a claim, the actions of the claim department today is very mechanical. Such a high percentage of the claims staff, including management, have never gone out to a loss, written an estimate, negotiated a loss or been allowed to use their judgement. Why? Because the computer says this is what is owed, and they are not allowed to deviate from the numbers.
Today’s personal lines employees are more times than not–at least in the large regional and national companies–instructed to park their brain with their car when they come to work. The carriers want androids who will do what is told with no questions asked.
There is one major carrier that may be going back to the future with the opening of their new training facility in Connecticut. They are training their underwriters, marketing and claims staff in what insurance really if and is for. Pehaps you could get them to be the feature company.
J.R. has obviously never been a claims adjuster. “Parked their brains with their car”–really? Sounds like J.R. parked his brains before writing his comment.
Claims adjusters, like most professionals, are very skilled and concerned individuals who do care about the insured’s they are working with. Although, I am sure there are lazy folks in every profession, relying soley on a computer to poop out claims checks is not reality in any claims enviroment I ever worked in.
I think this perception of our industry is the very proof that we have nothing to lose by anything, including a TV show, that would open the public’s eyes to how insurance really works.
NK
Been in P&C claims for over 34 years. From trainee to management. Been there, done that, seen it and have the T-shirt.
Maybe you have worked for one of the companies that allow you to think, be an advocate for insureds and actually adjust a loss just like those of us were taught to do in the 70s.
But today, the enviroment is so different at many of the companies.
I can’t believe an industry the size of ours does not have a platform for displaying all the positive things that result from our services. I am confident there are many stories to tell.
I have recently embraced video as a means of sharing my services and industry knowledge. I invite the carriers to allocate a minor portion of their advertising budget to producing “Masters of Disaster.” I will be happy to produce this program. Just let Sam know, and he can find me.
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