View Poll Results: What is the best way to run an insurance company?

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  • Charge the highest premiums possible. Pay out the least possible.

    13 59.09%
  • Charge the lowest premiums possible. Pay our the most possible.

    7 31.82%
  • Do what is best for the world even if it loses you money.

    2 9.09%
  • Close it down so that everyone will be screwed.

    0 0%
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Thread: What is the best way to run an insurance company?

  1. #51
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by American View Post
    Greedy CEOs!
    Only the good ones.

  2. #52
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    What is the best way to run an insurance company?

    vasuderatorrent
    Into the ground...

    I know bookmakers who wish they could be so ruthless...

  3. #53
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    Re: What is the best way to run an insurance company?

    To not to in the first place.

  4. #54
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by ChezC3 View Post
    Into the ground...

    I know bookmakers who wish they could be so ruthless...
    Option 4

  5. #55
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Carjosse View Post
    To not to in the first place.
    Option 4?

  6. #56
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    Option 4?
    No Option 4 means you had an insurance company, I'm saying it is best not to have one in the first place.

  7. #57
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by JumpinJack View Post
    In that case, I can't answer, since you didn't provide that choice. My answer would be:

    Make the most profit that is ethically and morally responsible for the company, the country, and the insureds.

    (I do believe that even in the making of profits, companies, like people, should be ethical and morally responsible and "do no harm." This is the concept behind not price gouging in the midst of a disaster.)
    It sounds like you enjoy a combination of
    Option 1 Charge the highest premiums possible. Pay out the least possible. or
    Option 3 Do what is best for the world even if it loses you money.

    I'm sorry that I didn't offer an hybrid option for you to chose.

    Scenario One
    Just imagine that you bought an insurance policy and paid $350 every month for 60 years which would be $252,000 in premiums. Then you got extremely sick and the only way to save your life would be to have a $7,266,414.09 surgery. Option 3 might be your choice.

    Scenario Two
    Just imagine that you invested $252,000 into the best health insurance company. You might want to chose Option 1 in that particular scenario.

    The only problem is that most investors fit into the second scenario. Therefore Option 1 is the correct answer to this test. Use your brain and a calculator for a few minutes. You will probably come up with Option 1. That is what the majority of the posters are answering.

    It probably isn't fair that I am giving away the correct answer but I think there will still be people that choose a moronic answer but most people aren't morons. That is pretty encouraging.

  8. #58
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Carjosse View Post
    No Option 4 means you had an insurance company, I'm saying it is best not to have one in the first place.
    But you do have one and you are choosing the best way to run it. I don't know what happened. Maybe you inherited it from your rich uncle or something.

  9. #59
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    What is the best way to run an insurance company?

    vasuderatorrent
    Demonstrates the problem with medicine for profit.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  10. #60
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by StillBallin75 View Post
    I don't think the choices you offer reflect what businesses actually do...
    Thats true. Very true.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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