It’s a headline not a story … unless you’re an insurance broker or an insurer and you cannot find your next best prospects for a specialist insurance scheme. Then it’s not just a problem, it’s a business challenge that geographic information can solve.
The upside (or downside) to society, is that many of us accept being risk-averse. Insurance is part of life, thank goodness. The advantage (or disadvantage) for insurers, is that some of us now don’t mind paying for a policy that’ll diminish the losses incurred if risks become realities.
But – llamas.
Llamas look cute on the outside, don’t they. You’d be surprised. Most people don’t remember the great escape of 2018, oop in the wilds of North Yorkshire, but these beasts can cause a lot of trouble. In fact, they can be quite ‘allarming’ – no, don’t all clap at once.
Insurance claims are no joke
If you’re a llama-farmer, standard pet insurance won’t cut it. Vets’ pet-plans have their limitations (ask me about the dog, the cyclist, the Lycra-hotpants and the payout sometime…), and insurers do know this. There’s been a resurgence in specialist scheme opportunities, which brokers would do well to embrace in 2019. Martin Friel touched on this recently, over at InsuranceAge.
Trouble is, while you may have a genius idea for a niche insurance scheme – and if you’re stuck for entertainment on a wet weekend, boy, is this a great game to play – you do have to find the right customers.
The answer, of course, is to use geographic information and good data overlays: to find a reliable source of data defining your bijoux market in detail, so you can see where the prospects are and if (and most importantly when), they’re likely to want a policy. Then you can target them one way or the other. Please abide by the rules of ethical marketing. Et cetera.
In this case, I’d be snuggling up to the British Llama Society, or possibly the British Alpaca Society, to find out what kind of data they had on llama distribution, threats to llama-livelihood in general, and environmental factors affecting the well-being of camelids in the UK.
Someone *will* take this seriously
Somewhere, there’s an entrepreneurial broker who’d be game enough to get these policies up and running. Which means – I hope – there’s also a great location data wrangler, a company working with mapping, or a business specialising in geocoding disparate datasets who’d take on this kind of challenge.
The coming together of two great forces. Insurance and geographic information: a geospatial solution to risk for alpaca, guanaco and llama owners everywhere.
Which, obviously, makes this Llama Drama Karma.