Written by: The Friday Five

Are you missing out on the data gold mine?

Excerpted from Data is the insurance gold mine hiding in plain sight, by Bill Dague for PropurtyCasualty360.com: This influx of data across sectors has led to firms seeking new ways of receiving information to gain an advantage. On Wall Street, this is highlighted by the phenomenon of alternative data. Hedge funds, investment banks, and asset managers have always sought an information edge to better their investment strategies. The difference is that they are now scouring nonfinancial data in order to do so. Ironically, Wall Street and other industries are only now catching up to what the insurance industry has known and practiced for decades.

Straight talk from young insurance agents

Ever wondered what young, up and coming professionals really think about their generation in insurance? PropertyCausalty360.com asked two millennials what led them to consider the insurance industry for a career, what guidance they have received from other generations, and what they see as their generation’s signature contribution to the industry in the coming decades. Read more in Young insurance agent: In their own words.

Life insurance for Moonwalkers

This week, the country celebrates the 50th anniversary of Apollo 11 and the making of history. How does this tie to insurance? The three Apollo 11 astronauts—Neil Armstrong, Buzz Aldrin, and Michael Collins—knew they might not make it back. Things could go wrong; they had before. All three had families, though, who had to share in their risks, so the astronauts tried to find some measure of security for their wives and children should the worst happen beyond the surly bonds of Earth. They did so in a very American way: by capitalizing on their fame. Read more in Jesse Hicks’ Atlas Obscura article, The Apollo Astronauts Signed Memorabilia in Quarantine – as Life Insurance.

School liability issues to keep an eye on

It will soon be back to school season in many areas across the country. In addition to increased traffic from school buses – and the unfortunate possible increase in accidents – other liabilities need careful attention to reduce risk. Lillian Vanvieldt, in her InsuranceJournal.com article, Expert Outlines School Insurance Liability Issues to Watch, highlights a few coverage areas, including special education, bullying, sexual abuse and molestation, and law enforcement.

Do safer cars equal dumber driving?

Excerpted from As cars get safer, drivers take more risks, by Ed Leefeldt for CBSNews.com: A new survey by State Farm found that drivers with cars equipped with adaptive cruise control or lane keeping assistance said they were almost twice as likely to use video chat while behind the wheel compared with those whose cars didn’t have this advanced technology. The survey asked 1,023 registered drivers 18 and older if they would take their eyes off the road “for less than five seconds.” Half said they would. 

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