Sunday, April 11, 2021

Gary Vaynerchuk Series: What He Thinks About The Insurance and Finance Industries?

I met Gary Vaynerchuk in London for a “No BS” talk about the insurance industry – even with Gary’s broken foot.

Since Gary did not choose a favorite soccer team yet, I had a proposition for him: So before “Gary Vaynerchuk buys the New York Jets”, I had the opportunity to discuss or should we say “pitch” for the Hamburg Sports Club.

So what Gary Vaynerchuk thinks about the Insurance and Finance industries when it comes to innovations and digital transformations? “Ludicrous” the first word from the Legend – you have read it already “No BS”, and that goes to those traditional problems who said that they don’t have issues and doesn’t need digital innovations because,

  1. Their products are too complicated.
  2. Customers don’t want to be digital.
  3. They’re being regulated.
  4. Not applicable to them.

More from him, people are saying 2 things we’re “doing well” or we’re being “regulated”, some told him that “we don’t need that, we’re up 31%” so he replied, “what’s wrong with 64%?”.

“Regulation is Opportunity”, even when applied in the wine and liquor industry where Gary and his family started in the US with prohibition, with different laws in 50 different states and “regulation was the last excuse” according to him. Going back to the insurance industry, even The Regulators said it already “We’re not here to save the incumbents”.

“Anytime You’re Big and Fat and Healthy, You’re Vulnerable” and the thought that customers don’t want good information or entertainment is “Laughable”.

Even with the undying argument that insurance is a product you can’t smell, can’t take home or for a drive, Gary Vee was still convinced that people are going to buy insurance. It is a hard fact that people will not celebrate when they buy insurance – “people don’t celebrate 99% of things they buy”.

We have more with Gary Vaynerchuk so you need to watch out for more videos with him about the insurance and finance industries.

Watch the Interview Here!

Prakash is a tech freak, passionate about every new gadget and technology that comes his way. Always searching, always curios, he managed to gather an astounding experience that is very useful in his journalistic career.

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