Chapter 316 New interpretation of insurance

There is a new joke in Fog City recently.

Those hillbillies in the South are making a joke again.

Yes, even though they are both from the United Kingdom, the people of Fog City are always superior to others, and the nobles of Fog City are two levels above others.

Among those country bumpkins, there was a poor woman. Perhaps the disease was driving her crazy. Before she died, she actually announced that she would leave all her property to a cat!

What’s even more ridiculous is that there is actually a bank that is willing to accept this crazy deal!

On the day when the Bank of Nice announced this, several major customers from the foggy city came to the door angrily, shouting dissatisfied and demanding a refund!

How can their noble status be compared with that of a cat?!

Still a redneck cat!

Either get this cat out or they quit!

They had inquired beforehand and found out that the old woman had not left much money at all, she was just an ordinary country bumpkin.

To everyone’s surprise, Nice Bank actually refunded the money!

For the sake of a cat, a powerless and helpless cat, they actually chose to give up many big customers!

This news was dug up by tabloids and immediately shocked the foggy city!

From the beginning, people looked at the joke and gradually became serious. They seriously discussed the game behind the incident and wanted to find out what the Bank of Nice was thinking.

Only a few people noticed that the originally somewhat depressed business department of the Bank of Nice gradually became lively.

Nanhen Wumei Island, the headquarters of Nice Bank.

A slightly old carriage was parked in front of the headquarters.

An old man and a young man stepped out of the carriage. The young man's cheeks were red, unlike those from the United Kingdom, and he supported the old man.

The old man was wearing a ferret fur hat, and although there were not many kinds of jewelry on his body, each one was valuable.

The old man walked into the headquarters of Nice Bank, and soon someone thoughtfully brought him a wheelchair.

They are the leaders of a certain tribe in the snowy plains. They have a prominent family background and a high position of power.

However, there is no invincible divine kingdom in the world.

No matter how prominent a family is, it will eventually decline.

The old man is getting older and wants to leave something for a beloved grandson to prevent it from being taken away by his own clan or foreigners.

According to the traditional practice in the snowfield, they used to deposit their money in the Kingdom of God. After the Empire of God's Kingdom collapsed, the money was deposited in the Small United Kingdom.

When I was young, I often heard people mention this kind of thing. The most popular one was Fengya Bank, which had a good reputation.

Several years have passed, and the grown-up boy has no idea how the structure of the small United Kingdom has changed.

His grandfather, the dying Goshawk, was keenly aware of these changes.

Therefore, they did not go to Wudu or Fengya Bank, but came here.

The young man pushed the wheelchair and whispered in the old man's ear,

"Grandpa, why are you here?"

"There is an old saying in the mysterious and rich East. You can only tell the subtle things."

The old man said listlessly,

“There is a cat in Nice Bank”

"I know that cat!"

The young man nodded and agreed,

"An old woman left all her money to that cat. It seemed like half a year ago. I've seen reports about that cat in newspapers several times!"

"That's right."

The old man breathed hard to speak a complete sentence.

"The Bank of Nice can take such good care of even a cat, let alone a human."

The young man never imagined that the reason why his grandfather chose Nice Bank could be so simple?

Of course it's not that simple.

The cat case had been litigated several times in the Little United Kingdom. The old woman's heirs hated the cat and wanted to take back their inheritance.

In court, Nice Bank won!

That cat still lives in the old woman's castle and is taken care of with great care!

At the same time, the Kingdom of Nice has also been shouting to the outside world that it refuses any kingdom or force to interfere in the business of the Bank of Nice.

Advertising is always just advertising, what everyone sees is the efficacy!

The king of the north and the governor of the south, the world of the small United Kingdom seems to be divided into two.

The master behind the Bank of Nice is none other than the legendary Mr. Ludden, the Governor!

Therefore, the reason for choosing Bank of Nice is the same as the reason for choosing Bank of Asia. In essence, it is to choose the rules of the game between Mr. Ludden and Mr. Ludden.

Because Mr. Luden has proven countless times that he never lifts the table.

How does he play the game according to the rules of the game?

Nice Bank is a good bank that abides by the rules and can be trusted.

Therefore, the grandfather and grandson appeared here, preparing to deposit a sum of property into the Bank of Nice.

The person who received them was a vice president with outstanding business ability and impeccable performance.

It is said that Mr. Luden is next door.

At the old man's signal, the young man left the room on the pretext of going to the bathroom and sneaked out of the office next door, hoping to catch a glimpse of Mr. Ludden.

Through the crack in the door, he saw a middle-aged man writing and drawing on the wall.

"We are preparing to develop a new insurance product. I am considering whether to issue it in the name of Bank of Nice or to establish a new insurance company."

Michael must treat Mr. Luden's words with caution.

He pointed out his doubts and asked puzzledly,

"Boss, I understand selling insurance. Although the profit in this industry is not high, it is indispensable. But even if we can get a business license, it will be difficult for us to enter the existing market!"

For insurance companies, there are two biggest problems:

Money, business license.

As long as these two problems are solved, everything else will be replaceable. There will be no core competitiveness and no irreplaceability.

In Michael's hypothesis, these two issues are not considered. Since Mr. Luden wants to do it, there must be a solution.

He knows very well that the insurance market is a saturated market, and without major changes, it will be difficult for them to get a piece of the cake.

And any method seems to be difficult to be effective in the insurance industry.

Run?

This trick works for banks, but not for insurance.

The prerequisite for a run is that the insurance is in effect. If a disaster is artificially created, it will not be the insurance company that will die, but Mr. Luden and others.

Moreover, the insurance company will treat the redemption as an advertisement and promote it everywhere!

Such advertising effects are generally very good, and people are more willing to trust an insurance company that pays compensation than a newly established insurance company.

In Michael's view, the insurance market is like a hedgehog that makes it difficult for people to eat.

Faced with Michael's doubts, Mr. Luden gave a perfect solution:

“We can launch a new product!”

Michael asked curiously, "What product?"

“Indemnity product for individuals!”

Luden said confidently,

"After the miners are insured, if they are killed, we will pay the compensation to the individual, instead of paying the money to the mine to make up for the losses of the mine owner, as we did in the past hundreds of years."

Starting from Shenbang four hundred years ago, insurance only covered the boss’s insurance, not the workers’ insurance.

According to the inventor of insurance at that time, in a mining accident, the boss suffered the most losses!

The boss should be compensated first!

It is precisely because of the compensation from the insurance company that the mine owners do not need to claim compensation from the wrecked miners, reducing their burden.

Four hundred years later, Mr. Luden made a bold decision!

Start the era of personal insurance!

Listening to Luden's words, Michael fell into deep thought, and then spoke after a long time,

"His insurance, can it really be sold like this?"
Chapter completed!