I wanted to write a post that discussed why the insurance business is split into such a bewildering array of classes and sub-classes, each with its own specialized practitioners and each of which sits at a different point on the arts/science continuum.
I realized that I actually can’t write the damn post.
Richard Feynman said that unless something can be described easily to a first-year undergraduate, the teacher, and perhaps the entire profession, doesn’t understand the concept deeply enough.
I love this idea. And I realize that I don’t understand the basics of the fragmentation of insurance classes deeply enough to explain it properly.
So let’s just say this: for some reason, there are lots of insurance classes. For some reason, practitioners don’t tend to cross classes too often. Is it because of relationship networks? Is it because the exposures of this business requires a body of knowledge that is immune to generalization from or into other lines of business?
No idea.
Not Unreasonable 