The insurance industry has often been compared to a casino with actuaries acting as odds makers. I was discussing this in our firm’s Los Angeles office on Friday, with attorney Ken Kan. So, it should come as no surprise when an article, Insurance Industry Predicts Super Bowl XLVII, was posted in the Insurance Journal. The insurance industry predicts the San Francisco 49ers will win the Super Bowl.
Some statistics noted in the article reveal the makeup of those working in insurance:
By insurance job function, the 49ers are heavily favored by risk management executives (76%), insurance human resource executives (75%), sales professionals (70%), and agency owners (72%).
Underwriters pick the 49ers (56% to 44%) as do claims people (64% to 36%).
On the other hand, the Ravens fair better with CEOs/chairmen, who pick them 57% to 43% over the 49ers, along with marketing/advertising people (56%).
. . . .
Not surprisingly, insurance people in California overwhelmingly favor the 49ers, 78% to 22%, but are outdone by Maryland where the vote was unanimous in favor of the Ravens.
I have always thought insurance company CEOs think differently than underwriters and claims personnel. This article supports my subjective view.
I hope everybody enjoys the Super Bowl. I am living the California Dream this weekend at the Beverly Hilton. Venues like this make it a little hard to concentrate on the New Jersey bar examination I am taking later this month. Though Ken Kan and I are worrying over the smallest details of a wine damage trial we have next month in San Diego, all lawyers agonize over bar examinations.
But, as I quoted from a very wise man in my post, Oh The Places You Will Go—Especially in the Insurance Claim Industry:
You have brains in your head.
You have feet in your shoes.
You can steer yourself any direction you choose.
You’re on your own. And you know what you know.
And YOU are the one who’ll decide where to go…
And when you’re alone there’s a very good chance
you’ll meet things that scare you right out of your pants
There are some, down the road between hither and yon,
that can scare you so much you won’t want to go on.
Out there things can happen, and frequently do,
To people as brainy and footsy as you.
And when things start to happen, don’t worry, don’t stew.
Just go right along, you’ll start happening too!
Oh the places you’ll go! There is fun to be done!
There are points to be scored. There are games to be won.
And the magical things you can do…
will make you the winningest winner of all.
Good luck and I hope you win too—regardless of this Super Bowl outcome.
And while thinking of California Dreamin’, how about this Oldie but Goodie: