Sunday, December 2, 2012

"Public insurance companies are the only companies that improve their business by not providing a service to their customers."

"Public insurance companies are the only companies that improve their business by not providing a service to their customers."

I forgot to include this quote in the previous blog entry with the article by Luke Landes.  I really like this quote a lot !!!!!!

He then makes this comparison:


"While everyone jokes about cable companies, they provide customer service by making sure you’re getting hundreds of channels all the time. They may not show up at your door to fix problems, but there are hardly any problems. If a cable company categorically refused to deliver service despite charging its customers every month, it would go out of business; yet, this is exactly how public insurance companies must operate in order to succeed."

He also explains the difference between a mutually held insurance company as opposed to a public insurance company - I after I finish this blog - the next item on my list is to begin researching all of the insurance companies that I use (primarily auto and health insurance) and find companies that do not have shareholders but are mutually held.