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The Big Aha From InsureTech Connect

Paul Carroll, Editor-in-Chief of ITL

The theme from last week's InsureTech Connect in Las Vegas crystallized for me when an insurtech executive, sipping on a glass of wine, told me he thought bartenders would make the best insurance agents.

Think about it for a second. Even leaving aside that people tend to let their guards down after they've had a couple of drinks, bartenders know a lot about the wants and needs of their regular customers. Bartenders also have lots of leeway to offer advice. It tends to be along the lines of "Dump the guy" or "Don't dump the guy," or "Quit the job" or "Don't quit the job," but why couldn't the advice go further?

Imagine a bartender saying, "You know, a lot of people these days don't carry any personal life insurance or don't carry enough to support their families if they get run over by a truck. Life insurance for somebody your age is a lot cheaper than you think...."

While the idea of bartender-agents is fanciful, the notion brought home to me what I saw as the theme of ITC: embedded insurance.

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