Insurance

“Unlike cloud, what I think we're going to see is that companies in commoditized industries, such as insurance or banking, where the products are pretty similar, will not have the opportunity to wait for three years and say, hey, let's wait for those things to …”

“What we're doing is instead of reinvesting all the cash the business generates into real estate, we're going to reinvest all the cash into insurance.”

“Insurance is going to be a big, big unlock in senior care, whether it's looking at the health aspect, whether it's looking at if I as a senior need to invest into senior housing, what stops does the government give me?”

“You cannot get financing to build these data centers without an insurance policy.”

“But I'd say in other industries, the 10 years could happen in 12 months. I just happened to unknowingly choose an industry that A decade is equivalent to a year in other industries.”

“If you misprice an insurance, you don't understand your costs for a long time, but it can, you know, be very, very difficult to an organization, and you can erode, you know, all your profits if you misprice.”

“The pure venture capital play continues to be really, really active, at least in our In our firm. It continues to be active in a number of industries. And so we see it in digital infrastructure. We see it in financial services. We see it in insurance. We see i…”

“So, you know, think of, like, insurance or accounting where are two that come to mind where you have an aging work workforce and the amount of people that are retiring from those senior roles. Is significant over the next 10 years, and there's just not the pip…”

“Those guys will be, they'll be gone. You know, insurance is cracking us so hard on that, that they'll be gone in the You know, in a couple months. I don't foresee them surviving beyond this year.”

“It started with Apollo buying Athene, and more and more you see the insurance liability base matches really well with credit with some incremental yield, and it's an extremely low cost of capital for the managers.”

“But that does not mean because of the asymmetries that venture capital is a winning business because you've got this unlimited upside, or that insurance is a losing business because you've got this unlimited downside. Ultimately, what it comes down to is appro…”

“The doctors are practicing, especially in the U S defensive medicine, they don't want to be told, oh, you didn't do all these checks by somebody who sues them. They just throw everything at it and insurance will pay cost of insurance goes up.”

“The security industry is a commodity and a service industry where clients are usually just looking at the bottom dollar. Rather than the quality of the service they can get because they see us as a shield against lawsuits and that's how they want to use us. So…”

“I think in the Uber case in the U S about five percent of gross revenue goes to insurance.”

“So it's usually that use case if it's in, in the soft space on the software, but we're the biggest in like insurance and real estate and more transactional B to C types of environments.”

“The firms that looked at insurance, banks, ahead of everybody else have found that most folks at the similar scale have copied them since. And that tells you something. They had an edge. They had an advantage. It was proprietary. They had an idea. At the time …”

“Most of the capital in crypto today, it has been more risk seeking rather than focused on risk mitigation. So insurance is still kind of finding its legs.”

“If you can shift risks to That are not efficiently allocated to an insurance balance sheet that may allow the total cost of capital to fall for the project. And that directly impacts LCOE, that expands the market, that potentially lowers costs, potentially acc…”

“You can't pay using insurance on costplusdrugs.com. You have to, you know, put in your credit card and pay that way.”

“I can tell you, but I can tell you we have, A whole variety of customers across government, insurance, private equity, right? Like, and you know, we have a whole slew of customers and those guys are paying us millions of dollars a year and deploying us on, on …”

“And it's really hard for us to find Assets that are relatively uncorrelated and provide liquid-ish, not super liquid, but not ten-year lockup illiquidity that provide the post-tax returns that we look for. We have a pretty high bar for our hedge fund portfolio…”

“The original quote unquote data scientists were actuaries, right? So these were people who were looking at mortality tables, morbidity tables, dating back hundreds of years, right? Because insurance has been around for hundreds of years and creating models to …”

“Listen, if you can figure out how to sell insurance to millennial consumers, You could sell anything to anybody. Full stop.”

“Insurance was crazy. Crucial to our society, crucial to our economy, crucial to entrepreneurship, and really understood by no one.”

“It really is a unique industry where more customers is actually worse than less but more profitable customers because each incremental customer is like a coin flip of profit or loss.”

“I think the really interesting thing about insurance is it's the first big data problem.”

“There's actually a law in most states, I know this because we tried getting into the insurance lead generation space at TrialPay, where you cannot reward people for switching their insurance.”

“And those cars don't have a driver, and the insurance probably costs half as much because self-driving cars don't have accidents in the same way, because the error rate will be lower, and so the price of those self-driving, of those on-demand services will be …”

“Farmers used to pool their crops at the end of the season. So they would choose to give up a higher than average yield in good years in order to mitigate loss in down years. And this is the fundamental concept behind insurance.”

“We did some quick math, and apparently fifty million dollars of Google's, or fifty billion dollars of Google's market cap, can be attributed to insurance.”

“In most categories of insurance, the dollar volumes are higher, and the feedback loops are a lot longer, and so you can't use the same technique.”

“No surprise, all financial services is regulated, but the special challenge with insurance is that there's no federal regulator. And so by definition, a new company has to go state by state by state, which just costs more time and takes more money.”

“Lastly, with the exception of auto, most insurance is sold via a broker.”

“Options provide a risk transference mechanism, like insurance. And buyers of insurance, over time, typically overbuy, but they sleep well at night. And sellers of insurance make a lot of money, but they better know how to manage their risk.”

“Insurance for the longest time was almost an underfunded market. And part of the reason why insurance was underfunded relative to the size of the industry and relative to how big lending is, it's really hard to get insurance right.”

“Google is now second most valuable company on earth, and a big chunk of their market cap is coming from insurance.”

“You know, we think that there's a huge opportunity in international expansion. That'll be a big priority for us. The other thing too is we think there's opportunity outside of peer payments. So today we pay as a payments company, but we think that over time th…”

“Many of our customers in the regulated industries, government healthcare, insurance they say that customer service is their number one priority, bar none. And yet they're also ranked among the worst at it.”

“One of the really interesting things about reproducibility we've learned is that it's been extremely resonant in industries where there are regulatory and compliance concerns, and we're sort of seeing that more and more, especially in financial services, they'…”

“For insurance, and it varies by, ah, plan, but the, ah, the commission is anywhere from three percent to like six percent in that range of a ah, for a plan.”

“Using things like social graph and other, other kind of non-conventional behaviors to score somebody and to more accurately price insurance. So whether, you know, you look at things like LendUp, or Wonga, or Betfair, you know, similar, or Prosper, similar prin…”