Profiles in Risk – E6: Is Insurance Gambling?

Buzzsprout RSS:
Google Play:


The nerds discuss the history of insurance and whether it is gambling.

Show Notes:

Gambling Article:

Lemonade 80% article:

Hurricane Andrew – Nature’s Casino Michael Lewis:

IoT Article.

FM Global – Basically an engineering firm that sells insurance

Tim Harford Amazon Author Page:

Nassim Taleb books:

Cat with a tutu:

This is a Fox:

This is a Fax:


Intro & Exit music – “The Spirit of Radio” in The Spirit of Radio: Greatest Hits (1974-1987) by Rush – buy: iTunes OR Google Play OR Amazon

About Antonio Canas

Tony started in insurance in 2009 and immediately became a designation addict and shortly thereafter a proud insurance nerd. He has worked in claims, underwriting, finance and sales management, at 4 carriers, 6 cities and 5 states. Tony is passionate about insurance, technology and especially helping the insurance industry figure out how to retain and engage the younger generation of insurance professionals. Tony is a co-founder of and a passionate speaker.

3 thoughts on “Profiles in Risk – E6: Is Insurance Gambling?”

  1. Is insurance gambling? To a 25 year old card dealer at a casino, their ‘why’ for working could be “It’s a job.” To a 25 year old insurance sales agent or underwriter, their ‘why’ could be “if an auto accident, hurricane, illness or other damaging event occurs, selling this policy could reduce my customers suffering.” See Simon Sinek’s

    Michael Lewis NYT piece is a classic. Many thanks for discussing and linking to article.

    Esurance strikes me as a firm that is web & mobile savvy, is using car trackers (IoT), and seems to have a culture that embraces technology.

  2. Of course it is. insured’s are betting they will have a loss (or a negative financially event or over time premiums <losses), and insurers are betting insured's wont have a loss (or combined ratio is less than 100). House has an advantage due to investment income


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.