While attending the RIMS opening reception at Disney World's Epcot Center in Orlando last week, I wondered whether it might be time to take on the industry's lousy reputation once and for all with a bold, sanitized and most of all, entertaining exhibit highlighting how the industry works and all the good it does for society! We could call it "The Insurance Industry Experience."
This isn't as radical or as crazy an idea as you might think at first blush, as industries at least as odious in the public consciousness as insurance have taken similar steps to polish their tarnished image in the past.
Indeed, my favorite exhibit at Epcot has long been "The Universe of Energy," which shows how the dirty business of fueling our cars, factories and home electrical needs are accomplished. It used to be sponsored by Exxon, then by ExxonMobil when the two oil behemoths merged. There were always lines around the block to get in--and why not, with life-sized dinosaurs inside and Ellen DeGeneres to guide us through the primeval setting!
Unfortunately, the oil industry dropped its financial support, although Disney wisely kept the exhibit operating, sponsor-free. Despite the success of GEICO's caveman ads, I would advise insurers to refrain from a similar theme in its exhibit, as there are enough dinosaurs roaming around the industry as it is when it comes to managing reputational risk.
It's not like insurers are strangers to Epcot. After all, for years, another popular exhibit was "The Wonders Of Life," a fascinating tour showing how the human body worked, that was sponsored by MetLife. But the carrier dropped its support within a few years, and the exhibit is closed for the time being. The industry is the worse for it.
Meanwhile, insurance still plays a big part in another existing section of "Innoventions."
First, there is "Where's The Fire," presented by Liberty Mutual, which features tips on how to identify and protect yourself from fire hazards at home.
Second, there is "Storm Struck: A Tale of Two Homes," sponsored by RenaissanceRe. The online teaser reads: "Experience what it feels like to be in the perfect storm and discover ways to protect your home."
This is all for the good, but the insurance industry plays such a big role in this nation's economy that it's high time it had a pavilion all its own. The Insurance Industry Experience could revitalize the image of the business by making insurance fun for folks of all ages--no easy task, I understand. But if PR and production experts could make the wildly unpopular oil business into a joy ride, certainly insurers could rise to the occasion.
Included with the relocated fire and wind safety exhibits could be one focusing on auto and driving safety. Perhaps people could even serve as virtual crash dummies in a thrill ride to demonstrate how insurers help save lives through relentless, worst-case scenario accident testing!
Before they leave, people could watch "The Anatomy of a Claim," featuring animatronic figures investigating and processing both routine and extraordinary losses under the worst of circumstances and abuse--complete with plaintiff lawyers threatening class-actions. Visitors could be dared to guess whether their state is among the most gruesome judicial hell hole jurisdictions for carriers, and what that dubious honor might cost them in terms of higher liability premiums!
You could also have monitors for people to check their credit scores free of charge, and then see how the outcome affects the price they pay for auto or home insurance--for better or worse.
And no "Insurance Industry Experience" exhibit would be complete without a health coverage component, challenging guests to guess how much their claims really cost. I would bet 99 out of 100 would not have a clue how much money is actually being spent on their behalf for medical care. Those tens of millions without insurance could get in for half-price as a sign of the industry's good faith!
See! Insurance can be both educational and fun!
Might you folks suggest some other exhibits or thrill rides for this groundbreaking pavilion? Let me know!
