Thanks for your insight Dennis! I completely agree prediction has become too powerful and is only becoming more powerful, and insurance should be more heavily regulated. Could you elaborate on what you mean by treating insurance as a utility?
Thank you Neural! This is very well stated. When prediction replaces pooling, insurance stops being insurance and turns into exclusion by math. Florida and California are already showing where that road ends, great example!
Insurance must be treated as a utility because AI has made prediction too powerful to leave risk governance to unregulated markets.
Thanks for your insight Dennis! I completely agree prediction has become too powerful and is only becoming more powerful, and insurance should be more heavily regulated. Could you elaborate on what you mean by treating insurance as a utility?
Thank you Neural! This is very well stated. When prediction replaces pooling, insurance stops being insurance and turns into exclusion by math. Florida and California are already showing where that road ends, great example!