Insurance

An auto policy, a commercial liability program, a cyber policy from an MGA, a twenty-year term life policy and a protection plan sold at checkout look like different businesses, and underneath they run on the same promise: a premium collected now for a payment that may come later, priced on a rate filed with a state, sold by a licensed producer, changed only through dated transactions, earned day by day, and backed by reserves and capital a regulator watches. One policy lives in several systems at once (the rater, the policy system, billing, claims, the agency's system, the reinsurer's bordereau, the statutory statement), each answerable to fifty-six jurisdictions' rules on rates, forms, notices and claim deadlines. This book surveys how the industry does each piece, benchmarked across Progressive, State Farm, Travelers, Lemonade, Chubb, Kinsale, MetLife, Guidewire, Duck Creek, Socotra, Verisk and the others, with no single company as the model, and how you'd build it, extending one core data model chapter by chapter. Health insurance stays in the Health Tech book.

It reads in thirteen parts, plus a glossary: the business (the market, how insurers make money, who carries the risk, MGAs and fronting), regulation and solvency (the state system, rate and form filing, market conduct, statutory accounting, capital and failure), distribution (agents, brokers, licensing, commissions and leads), rating and underwriting, policy administration (products, quote and bind, endorsements, cancellation, billing), claims, reserving, catastrophe and reinsurance, personal lines, commercial and specialty lines, workers' compensation, life and annuities, embedded insurance and service contracts, and running the platform.