When we talk about innovation in insurance, the issue of insurance regulation inevitably comes up. Few industries face the scrutiny and oversight that is present in insurance.
What if those barriers were lifted to make room for experimentation?
On May 20, 2019, Kentucky passed legislation to do just that. The newly created Insurance Innovation Sandbox allows organizations to try out ideas that would otherwise be prohibited under the current insurance code.
In this episode of The Insurance Nerdery, I talk through the changes, outline the concept of the sandbox, and start a feud with Elon Musk.