Great post, Rob. Very informative.
Regarding “The challenge is obvious — getting customers to care”, I think the exact opposite is necessary: Insurers, InsTech startups and everyone involved need to care about customers. They need to truly understand what job costumers are hiring insurance policies for to get done. For example, for car insurance comparison, it’s not the function, task or activity to get insurance against car accidents (usually as cheap as possible), it’s probably more about freeing consumers from the difficult decisions they face when taking out car insurance so that they can enjoy driving their cars more.
It is paramount to understand that humans want to make progress in their lives but often don’t know how. That’s their struggle. Knowing your customers’ Jobs-to-be-Done (JTBD) helps you create products that they will buy and advertising that speaks directly to your customers’ struggle for progress. You can learn more about the JTBD framework here: https://jtbd.info/