2015, the year Insurance disruption seems to take off...USD 50 Bn in commissions p.a
In 2013 in the U.S., agent commissions on auto, home and commercial insurance totaled $50 billion, and that could go to zero. Photo Courtesy of Mike Mozart One of the most costly open secrets of the American economy is how much people pay for brokers who sell them an over-priced product that the government requires them to buy if they want to own a car or a house. The product in question is so-called personal lines property/casualty insurance, and there’s a good chance you are among those who are paying insurance agents a whopping $50 billion in commissions to sell you. Now Google and WalMart are among the companies that are trying to take a bite out of that enormous inefficiency.
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