
Ask HN: Why isn't there an insurance buying platform? - fargo
Why something analogous to uber or airbnb exist for insurance? Is it just an industry that hasn&#x27;t been disrupted yet or is it a matter of regulations and other barriers?
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elliott34
It's really challenging, people are trying. Are you specifically referring to
auto, health, life...all of the above?

See [http://www.theverge.com/2016/2/23/11097642/google-shuts-
down...](http://www.theverge.com/2016/2/23/11097642/google-shuts-down-compare-
insurance-credit-card-mortgage).

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PaulHoule
They are all different, but Health Insurance is an entirely different animal
from the others. (i.e. there is no GEICO health insurance)

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grizzles
I think you will run into a bit of a chicken and egg problem.

Insurance companies won't like it because it would be bad for them for
something like this to exist at a consumer level. And consumers won't use it
because they would need some companies there to participate. So I'd either
factor in starting an insurance company as well (to sell on your market) or do
P2P insurance, which would be very interesting. Let me know if you go the
latter route, I might be able to help out.

Insurance is the most profitable industry out there, selling a mostly
commodity product. It's definitely a very ripe industry for disruption.

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sharemywin
www.insurancequotes.com - auto.insure.com - offer quotes.

And to some extent there are marketplaces. They're called independent
insurance agents. The problem is Agents cost a lot versus direct to consumer
marketing.

Could you build and automated agency, possibly but you have a lot of hand
holding people want.

Some of the problems at the carrier level:

-large players that are heavily invested in technology.

-Each state is different and regulated separately.

-Fraud, Fraud, Fraud

-Complex legal contracts that require lawyers and compliance people.

-acquiring customers is expensive and low margins leave very little to disrupt.

-it takes years to get enough underwriting data to get it right.

\- same with investing the money.

-federal regulations for integrating with medicare, terrorism database \- other integration's: tpa's, motor vehicle, claims data, third party adjusters, e-billing, banks, auto rental places, window glass shops, supplier auditing(did we pay an appropriate price.

\- plus for homeowners the better you sell in an area and lower your marketing
costs the more concentrated your risk. hello hurricanes...

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czbond
There are. The industry is very challenging. I attended an insurance
conference a few weeks ago focused on innovation. (lookup Global Insurance
Symposium). Also look up ACORD innovation

