Translator: Igor Pureta Reviewer: TED Translators admin
Hello everyone!
I am very excited to be here, and incredibly grateful for this opportunity.
When I got selected for this TEDx talk, I thought wow these kids are
gonna get so fired up to learn about insurance!
Clearly, it's the most exciting industry in the world today.
Yeah?
Well, yeah!
Your reactions suggest you think otherwise,
but the truth is despite the fact that you know I'm very passionate about
insurance, and I've only dedicated my entire professional life to it,
I realize that it may not have the most inspiring reputation.
But as I reflected on my path, and my work, you know what I realized?
That my story isn't about insurance.
My story is about community.
About how I've tried to help my community and people all over.
It's also about boldness.
I know, yeah, it is!
Insurance is about being bold!
Now, you might be skeptical, but allow me to explain.
So, despite how thrilling the world of insurance is, I did not always long
to be an insurance software executive.
When I was young I wanted to be a psychiatrist.
I wanted to help people, and I thought that this would be a
path that would allow me to support people, and help them on their path.
But you know, when I graduated school, yeah.
When I graduated school, I was met with a non-existent job market, and as my job
search dragged on, and on, and on, I took the first job that I was offered.
Insurance adjustor!
Bold, I know, yes, so early in the gig I had an opportunity to join the catastrophe team,
or CAT team for short, and I jumped at it.
Why you might ask?
I just wanted to travel!
I had visions of touring local landmarks, some extravagant clothes shopping,
and of course partying with my new coworkers.
So, the first ever assignment I got was in response to storms in Texas,
and you can imagine my excitement, as I prepare for my outing.
That's how we thought of it.
I thought of it as an outing.
So, you can imagine my excitement of being the summertime.
Packing my bag including my cutest shorts, t-shirts, and of course, my
cowboy boots.
As I boarded the plane I had visions of cocktails, and some serious
country line dancing, which you're gonna have to believe me.
That was a thing back in the nineties.
So, as I made my way from the hotel to the neighborhoods that I'd be working on,
You know, I quickly came to realize that I wasn't here to party.
I wasn't there to hang out, and I wasn't here to look cute.
I was there to help this community that had been devastated by the storm,
make their way back to normal.
I was there to help these families that lives had been turned upside down find
their balance and their way back to normal so that they could survive, and thrive
in the face of the catastrophe.
By the end of the first day, my plans for hitting up the local
barbecue spot had completely evaporated, and in their place
was a deep and total commitment to helping every family I spoke to.
I worked dawn to dusk.
As long as there was light in the sky, I hauled my ladder and this body on
top of their roofs in order to inspect the damage.
The same for the interiors of the homes, as well as the yard,
as well as the fences.
I understood that in this moment, my job was to provide peace of mind
support and help however I could, and I understood my job was
to get money into their hands so that they could repair their homes, or live in
a hotel, if they couldn't live in their home.
And it's because I understood that every penny counted, and that speed was key.
I might have used a little creative license with some of the policy rules.
So, let's say for example that a policy holder couldn't afford a $500 deductible.
Well I might overestimate, don't tell anyone, the cost of their repairs,
just a little, in order to soften the blow for them.
Also, if let's say, a fence wasn't covered by the policy, not a problem, now it's a
"barrier to entry" and not a fence in need of repair.
In short I did whatever I could to help these people that needed me.
So, this trip was a turning point for me, and that's when I realized that insurance
wasn't about sitting at a desk.
It wasn't about obnoxiously responding to callers with: "The policy requirements
explicitly state" - No!
It was about compassion.
It was about empathy, and that is what I fed on.
When I would respond to callers on the phone, I thought of
those families in Texas.
When I was helping someone with their car accident, I no longer had to close
the claim as quickly as possible so I could head out to the local pub night.
Instead, I stayed as long as I was needed.
I came in early, I stayed late.
I did whatever I could to help the people that I served.
And that commitment to community is what allowed me to excel in my role
at that time, and over the last 26 years, it has remained my guiding light.
But my rule is much different now.
And it requires that I engage in the work in a different way because
despite the fact that insurance, at its core, is about helping people,
it's also incredibly conservative in its approach.
It's about risk management.
It is about anything but boldness.
We work to find solutions and we minimize exposures, and you know
that's fine and that's good.
But my time as an adjustor allows me to maintain focus on the question
that really matters.
Are we helping our customers by balance in security in the
best way possible?
I keep this in my sights, and I'm seeing exciting new ways in which technology is
providing innovative, and important answers to this question.
That is where my passion lies.
Insure tech is creating new pathways in an old industry.
Insure tech is the confluence of technology and insurance,
and it's where insurance meets its fullness.
For example, Slice is an insure tech innovator that
insures Uber and Lyft drivers.
It's on demand insurance.
So the app triggers the insurance at the start of the ride and it turns off at
the end of the ride.
It tracks it down to the minute and the second.
This makes insurance affordable, and it just makes sense.
Another insure tech innovator is Metromile.
They charge buying a mile for automobile insurance.
You only pay for the distance that you drive.
I mean why pay for car insurance, if you aren't using your car?
And I have to say, one of my personal favorites, that is truly transforming
what's possible for people, is Bought By Many.
They are a social broker, they serve people who have very unique demands,
and because of that, have a hard time finding insurance.
For example, let's say travel insurance.
For travelers with gout or pet insurance, for one-eyed rescue pugs.
Or, quick seriously, life insurance for individuals with diabetes.
They pool together these underserved customer so that in larger numbers,
insurance becomes affordable in ways it's never been before.
So these are all great examples of bold new ways of serving people.
And my contribution to this is a chatbot.
So, a well designed chatbot can handle high volumes but simple tasks
associated with a claim.
They free people up to do what we're good at, which is solve complex problems,
and provide empathy and a sympathetic ear.
Watch this video to see it in action.
Hi I'm Laura let me tell you about my good bad day.
I was leaving work, texting with my husband on Facebook Messenger,
and as I approached my new car, I smell paint.
Someone had tagged it with red spray paint.
I couldn't believe it!
My insurer is on Facebook Messenger too.
So I texted them and they answered right away.
They asked if this was an emergency situation, and I said no, and then they
verified my phone number.
They wanted to know when the loss occurred, and because the spray paint
was still wet I told them: "Now."
When they checked my policies, they realized that this is an amazing,
brand-new car, and they were very sympathetic about it.
They asked what have happened, and I selected vandalism.
They wanted to know where it happened. so I pinpointed my exact location.
The next part was kind of fun.
They asked if I could take a quick video of myself explaining what happened,
so I did it.
And then I uploaded the video.
The last thing they asked for was a photo of the damage, which was
great because it gave me the chance to show them just how bad my car looked.
They responded quickly with all of the claim information that I had given
to them, and asked me to verify the details.
I simply hit yes, and I confirm, and it was done.
They told me that they were on it.
And you know what?
They kept their promise.
My claim was settled quickly, and sent me to a fantastic
repair shop, and my car looks brand new again.
So this was my good bad day.
The companies using this technology are more effectively and efficiently
serving their customers when they needed the most.
Yeah, so I'm really proud of the role I play to champion this but I gotta say,
I am incredibly grateful to my boss, Steve, as well as my CEO, Marcus, because
they took a chance to invest in the future of the industry,
and lead with vision, and innovation.
So what I'm seeing happening in insure tech is why
I'm so excited to be here today.
Because I understand you're a generation that's driven by your values.
You crave the opportunity to contribute in bold and creative ways.
You're driven, not by finding the safest or most highest paying job,
but by a combination of a job that will support you, allow for creativity,
and allow you to contribute to something greater than yourself.
Your generation is shattering stigmas, and you are starting difficult conversations.
If you aren't bold, I don't know who is!
And you're exactly who we need to call on to continue to find solutions for
communities and for families.
College and being a young adult, I mean in general, is a time to take
risks and be bold.
You are in Silicon Valley!
You are watching industries transform.
What companies have done to the cab industry, hotel industry, movies,
music and everything in between is astounding.
I got a secret for you!
Right now, insurance is where some of those industries used to be ten years ago.
Right now, insurance is on the cusp of large-scale change.
There is an opportunity to reimagine how it works.
There is an opportunity to make it relevant for your generation,
and how you live.
There is an opportunity to see this massive industry through fresh new eyes,
and find a contribution.
Because we need this boldness, and commitment to contributing
to the greater good now more than ever.
In the past year, the hurricane trio of Harvey, Irma and Maria, has cost the
insurance industry a record amount in 2017.
The final insurance bill?
It's expected to come in at 135 billion dollars.
Yeah, that is a huge number.
It represents hundreds of thousands of families that are displaced.
It represents hundreds of thousands of homes that are damaged or destroyed,
and it represents hundreds of communities that are uprooted, interrupted, and tested
in the most harrowing ways possible.
But that's the work of this industry, and that's when we step in, and we step up.
When people are in crisis, hours and minutes matter.
Technology can help, or it can hinder, but we need boldness
to see what is possible.
Insurance is a one trillion dollar industry.
That's with a "T," and that's in the US alone.
So if you want to make a difference at a truly massive scale,
insurance and insure tech is where you can bring your values into the world.
So, the path that I've taken has guided me to a career in insurance.
Oh, I never thought I would end up here!
When I was sitting in those seats, I never thought I'd end up here.
But I'm sure glad I have.
I have been able to contribute to the world in ways that I couldn't
imagine when I packed those cowboy boots, and headed to Texas all those years ago.
I've been guided by an unwavering understanding of who we are working for.
We are working for people, and we are working for communities.
And by being bold in our pursuit to help these people find better solutions,
and innovations to better serve them.
So how'd I do?
Ready to join the wild world of insurance?
Do not answer that!
Don't answer it!
Because my story isn't about insurance.
My story is about community, and my story is about boldness.
Whatever path you choose, you're gonna have the opportunity to serve.
You're part of this University community.
How can you serve each other?
You're part of the community that you grew up in.
How can you serve them?
You're going to leave here, and you're gonna plant roots in other places,
and you will have tremendous opportunities to serve those around you.
You will have an opportunity to curve out a purposeful and fulfilling career.
Now, I found this in insurance of all places, in insurance.
I don't know where you're gonna find it.
But I know you can, and I know you will.
Just step into your boldness.
Trust your gut, and move with courage, and you will find deep
fulfillment in your life, and in your work.
You will experience the joy of helping others, and you will rest knowing you
contributed to the best of your ability, and you were there when you were needed.
Thank you everyone!
(Applause)