Business Trucking Industry Looks At Cannabis Legalization And What It Means For Thousands of Drivers

Over the last twelve years i have worked at some of the best ad agencies in the world (Droga5, Wieden & Kennedy, Saatchi & Saatchi). During this time i have helped numerous famous companies (Amazon, Facebook, Nike) define their brand and strategic direction.

I realised that a lot of this information might be of interest to a wider audience. So i taught myself Premier Pro and started to created mini educational videos. This is my first one and would love to know what you think....Please give me any feedback or thoughts. Videos will be uploaded monthly.

https://www.youtube.com/watch?v=BKvT7VAnuuk&t=82s

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Jim Ratcliffe’s Ineos backs ‘clean’ hydrogen fund planning UK float

Posted: 06 Jul 2021 12:52 AM PDT

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P2P insurance: the new and old "social platform + mutual aid" mode

Posted: 06 Jul 2021 02:25 AM PDT

When it comes to P2P insurance, many people seem to feel both familiar and unfamiliar. On the one hand, with the vigorous development of P2P and other Internet financial services in recent years, many credit-related insurance products have emerged, and many insurance companies have suffered setbacks. Such news often comes into our view. On the other hand, "P2P insurance" itself is also a form of protection, but it presents a different state at home and abroad.

Looking back at P2P's development history in China, "failure" seems to be the right word. Faced with failure time after time, investors must be extra cautious about P2P. Insurance can provide assurance for both P2P platforms and investors.

P2P: different insurance + social platform

In fact, in addition to appearing in the cooperative list of insurance institutions, the term P2P has also been integrated with insurance business, and some P2P insurance companies have also emerged. For example, Lemonade, which was recently named as the best IPO of 2020, is a typical P2P insurance company. Before buying insurance, Lemonade's platform will classify users into groups according to their interests.

Lemonade will charge premiums from each group, and the premiums of each user will be divided into three parts. Twenty percent of this goes to commissions, 40 percent goes to the pool for claims, and the remaining 40 percent goes to buying external reinsurance and building its own reinsurance pool in case the pool is inadequate. The remaining funds in the final pool will be donated to a charity designated by the insured person.

Moreover, with the support of AI and big data technology, the grouping of policyholders has abandoned the fixed thinking and reduced a lot of invisible discrimination. Lemonade's policyholders are grouped into three stages. In the first stage, all policyholders assume the same risk and get charged the same premium. The second stage will classify the policyholders according to the risk level based on some basic data (gender, skin color, etc.) to realize differentiated fees; The third stage is to break the preset grouping with the help of technology, which ensures the diversity of grouping and breaks the fixed nature of the original grouping to a certain extent.

Under this model, Lemonade expanded its product types from tenant insurance to housing insurance, pet insurance and other fields.

After the introduction of Lemonade's model above, you must have a basic understanding of the P2P insurance model. Under this model, it shows advantages compared with the business model of traditional insurance companies. Between traditional insurance institutions and consumers, in fact, there is a natural contradiction of interests, because insurance institutions hope to make profit and users hope to gain more claims when accidents occur. For insurance companies, to reduce claims or avoid claims will lead to higher profits. For users, they hope for higher insurance amount when buying the product.

This natural contradiction was solved in P2P insurance mode. Judging from the composition of Lemonade's premium distribution, it leaves 20% as a fixed commission. This part is the profit of Lemonade. The remaining part of the premium can be "focused" to provide protection for users, and the process is transparent, and the final balance will also be donated to the designated charity organization. Users are more at ease with less sense of hostility..

Also innovating on the basis of the P2P insurance model, the insurance platform provided by Uvamo integrates investors, because for ordinary investors, sometimes the huge profits obtained by insurance institutions have nothing to do with them. To solve this problem, Uvamo will classify and rate the risks of users who insure on its platform according to their insurance needs. After that, investors can invest in them to form a reserve fund. Finally, the remaining balance of claim settlement will be owned by Uvamo and investors.

If you go back to the origins of P2P insurance, the world's first P2P insurance company was called Friendsurance, founded in 2010. Friendsurance reckons that even though a lot of people have insurance, there's still a fair share of people who never get insured, and who don't get much benefit or reward from the insurance companies. So Friendsurance is set up to deal with this awkwardness for low-risk users.

On the one hand, users can invite their family or friends to form a group, and on the other hand, the system also groups them according to the type of insurance. Premiums paid by users will also be divided. 60% will be put into the insurance fund pool to deal with large fund claims, and 40% will be used as the fund source for small claims and premium fund. If no one in the group is insured during the insurance period, the premium fund will be returned to users as a reward of zero claim. About 94% of users get their cash back, according to Friendsurance. In this way, the "ins and outs" of premiums are made more transparent, more accessible to consumers, and the price of premiums is reduced. In addition, groups of people who know each other well reduce the risks that insurers have to take. With Friendsurance, insurance claims are also below the market average, and insurers themselves could benefit.

The first peer-to-peer insurance companies just debuted in 2010, so P2P insurance is still pretty young. Friendsurance's model is fairly traditional, and then other followers like Lemonade have been innovating and exploring new forms of P2P insurance. For example, Lemonade is not limited to the social relationship between acquaintances, while Uvamo innovatively integrates investors into the insurance business process. At present, this model has not been carried out in China.

Mutual aid: giants all enter the competition, why?

When it comes to the "insurance + social" mode of P2P insurance, we have to mention mutual insurance, which is very similar to it. Different from joint-stock insurance companies, mutual insurance organizations operate for the purpose of providing low-cost insurance products for users, rather than for the purpose of making profits. In this case, there will be no conflict of interest between the applicant and the insurer. It is more user-centered and has relatively lower business fees. As for the mutual insurance involved, units or individuals with the same risk protection needs become members through signing contracts, and pay premiums to form mutual funds, which will bear the compensation liability for the losses caused by the accidents agreed in the contract. It will also pay for claims when the insured is dead, disabled, have disease or reach the age agreed upon in the contract, time limit and other conditions.

Although mutual insurance has appeared for a longer time, in fact, both mutual insurance and P2P insurance are still very small in China. At present, there are only four mutual insurance organizations in China, namely Sunshine Agriculture Mutual Insurance Company, Zhonghui Property Mutual Insurance Company, Xinmei Life Mutual Insurance Company and Huiyou Property Mutual Insurance Company. The development of mutual insurance in China is still in the early stage.

However, on the other hand, as a non-insurance mode similar to P2P insurance and mutual insurance, mutual aid is favored not only by traditional insurance companies, but also by many Internet giants. In May, after Ant Financial Services, Meituan, Baidu and other Internet giants have layout in mutual aid, Xiaomi Digital Technology Co., Ltd. established a wholly-owned subsidiary -- Beijing Shouwang Mutual Technology Co., Ltd. In June, Xiaomi Finance announced that its new product, Xiaomi Mutual Aid will be officially launched on June 15.

As an important supplement to China's social security system, online mutual aid provides more choices for consumers with its characteristics of low threshold and high cost performance, and also attracts a considerable number of users to participate. At present, the number of participants of Xianghu Bao launched by Ant Financial has exceeded 100 million. On the surface, Internet giants entering mutual aid insurance seem to have a unique traffic advantage, but in fact, they also need to face many challenges behind numbers. There are actually many directions for the future development of mutual insurance. To stand out from more and more competitors, traffic might not be enough.

P2P insurance vs. Mutual aid, what are the advantages of P2P insurance?

Actually, the mutual aid products in China are more similar to the P2P products overseas. At present, the mutual aid products in China mainly focus on the mutual aid of serious diseases, while the P2P insurance products are mostly housing insurance, electronic goods insurance and automobile insurance. Compared with the P2P insurance model, mutual products are not insurance. If there are not enough users to participate, the amount shared between members may be large. Moreover, most mutual products have zero threshold to join, so the risks will be magnified and the probability of fraud and other phenomena will be higher. On the contrary, the control of P2P insurance in these two aspects is reasonable, and users need not to pay too large a sum.

On the other hand, P2P insurance is more social and relies on acquaintances, which also reduces related risks. In addition, the profit source of insurance institutions under P2P mode is fixed and transparent. At present, the profit situation of mutual aid platforms in China is unclear, and the grouping of users is not detailed. Most platforms also have no corresponding grouping mechanism, which makes it difficult to establish trust among strangers in the group.

But whether it is for the industry or society, the vigorous development of mutual aid is beneficial. The development process of new things will inevitably go through pains, but after the noise of traffic, good products and good models will be accepted by the public. Therefore, whether it is traditional insurance companies or Internet giants and other rising stars, how to improve the quality of products and services is the fundamental foothold.

Looking back at the P2P insurance model, it eliminates consumer concerns, breaks through the "opposition" between users and insurance institutions, and gives consumers more trust. We are also glad to see the emergence of more innovative P2P insurance institutions, bringing more surprises to the insurance industry.

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Inside The Sun Valley Event Known As 'Summer Camp For Billionaires'

Posted: 06 Jul 2021 02:14 AM PDT

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Three US private equity groups circle UK supermarket

Posted: 05 Jul 2021 02:53 PM PDT

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Etsy shadowbanned our shop after we started promoting our website in the Etsy banner, Marketing doesn’t seem to go anywhere

Posted: 05 Jul 2021 11:44 AM PDT

Hi, I'm the manager of a 5-star shop, customers genuinely love the product across our amazon, website , and etsy shop. Most of our business came from the Etsy and after we included our website URL in the banner for a few days, we've noticed a drastic drop in sales.

We've spent high dollars marketing on Facebook, on top of that they charged us $600 for our ads which we were told would be debited from the $2500 ads credit they gave us. So facebook lied to us, and I have the screenshots to back it up.

So between Etsy dropping our shop in the algorithm, and marketing on our own being more of a money pit… what should we do? We want to get daily or even weekly sales

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Wall Street Wrap Up ( from the floor of the NYSE) July 3rd 2021

Posted: 05 Jul 2021 06:08 PM PDT

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Tips for Students Entering the Workforce

Posted: 05 Jul 2021 05:27 PM PDT

Hey, I'm writing a speech that I will be presenting to a class of college students about the best way to set themselves apart from other applicants; if you are employed and within good standing, I would like insight from your experiences and perhaps some advice :

https://forms.gle/ebDVgDDsArgisRi8A

Answer as many as you'd like, thank you in advance

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Hipgnosis to pay bigger dividend as $1bn music rights spree pays off

Posted: 05 Jul 2021 01:25 PM PDT

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Hiring An HR Agency

Posted: 05 Jul 2021 04:30 PM PDT

I need to know if new and small businesses find it more difficult to work with HR agencies? From what I know, a lot of outsourced business service providers are focused on earning a profit and avoid new businesses until they are able to send more. Any thoughts or experience with this?

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Question about Shoe Dog (Nissho Trading Company)

Posted: 05 Jul 2021 01:01 PM PDT

Hey all!

I'm currently on a journey to learn more about business and entrepreneurship, and had a quick question for anybody who's interested.

I just finished reading Shoe Dog. If you're familiar with the book or story, you'll know that Nike eventually got bankrolled and supported by a very successful Japanese trading company called Nissho, who agreed to work with them for a 4% revenue share. They also helped Nike find factories and suppliers in Japan who created their very first proprietary shoes.

What I don't understand is how this works, essentially. Nissho was a commodities company that branched out into a whole bunch of other money making enterprises. Did they just see an opportunity to make some interest on a growing company, and figure "why not"? Is it common for big enterprises like this to lend money to small growth companies in back end deals?

They also were a sort of guarantor to the stateside banks who were consistently not thrilled with Nike's "float" model?

Sorry if I'm not asking great questions, the whole situation is a little unclear to me.

Much appreciation for the help. Thank you!

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Can anyone be appointed a CEO?

Posted: 05 Jul 2021 12:31 PM PDT

Say I were to start a company that absolutely takes off and becomes a fortune 500 company. Then after time I'm like, I no longer want to be the CEO so I am going to appoint a friend of mine whom just graduated college with an associates degree in business yet he is very smart and i trust him.

Can somebody do that as a ceo? Sorry if that question seems silly. I actually just watched Iron Man and everyone went mad when Tony Stark gave the position to his gf pepper potts.

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Looking for a virtual assistant?

Posted: 05 Jul 2021 06:22 AM PDT

Hey guys if you are looking for a VA or a customer service personnel. Hit me up. Cheap rates since im working in the Philippines.

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