Bolt added that his biggest long-term fear for the specialty insurance market was that it too would face challenges from new lower-cost competitors.
“You look at Amazon.com – they’re doing same day delivery. And we don’t get the policy out and it’s just an ephemeral promise to pay and it’s evidenced by an electronic thing and you can’t get it to somebody the same day. And the cost is somewhat expensive to deliver.”
Bolt said that London takes about 30 points of the premium just to deliver the product, including brokerage fees, with around 70 points of benefit baked into the product.
“I’m just really worried that someone will come along – Samsung or someone – and figure it out.”
That’s from the insurance insider (gated). My view is of course that this fear is probably accurate in the bigger sense for insurance but specialty lines are the underwriting heartland. Humans will last longest there.
Not Unreasonable 
so true. there are so many forms of unnecessary expenses in most insurers that I think somone starting using Lean Startup techniques could easily shave 20+% off the premium. the amount of pure paperwork processing is mind numbing