The Counterintuitive Psychology of Insurance | Orit Tykocinski | TED

[@michaelkelly747]

Risk is a combination of probability and consequence. When I buy insurance I know the probability is not impacted by the purchase but I may have an issue determining the probability because those are general based on statistics across a population. The difference to me is the consequence of an adverse outcome to me and mine.

[@homewall744]

Most people are bad at risk, bad at probabilities, and bad at consequences.

[@ProfessorToadstool]

7:11 we are conditioned to believe that state has our best interests at heart when they require things like insurance for various reasons... BUT INSURANCE IS A MULTI-TRILLION DOLLAR RACKET which means all the money is cozy in bed with each other, while the average person gets the shaft out in the cold

[@LostInPhoenix]

@TED I interview homeless fentanyl addicts here in Phoenix for my KZbin channel as we currently have an epidemic going on here with 5 Arizonans dying each day from opioid overdoses. Most of the people I interview are teens and young adults. I’ve interviewed about 300 people in a year and a half. 3 of them are dead from overdoses and 2 are in prison for murder. If you ever do an episode on addiction please invite me to speak on this subject to help create awareness and possibly save a life. Thank you 🙏🏼

[@TennesseeJed]

Insurance seems to be legalized robbery. They appear to only be good at two things collecting premiums and denying claims.

[@TheMeanArena]

100% We've paid insurance to State Farm for over 22 years. Got into a small incident where a truck on the highway dropped a chair off the back and it the the front of our car and did damage to the bumper. They wanted us to pay a $500 deductible even though it literally cost less than that to fix it. What happened to paying 22 years worth? Pretty sure that covers it.

[@TennesseeJed]

@@TheMeanArenaInsurance lawyers can always out think you, unless you have your own team of lawyers. Our schools taught us to play checkers, but once we reach the actual world we find that everyone's playing 4D chess.

[@H0lyMoley]

Speaking as someone who works in the industry in the UK... you have to be the most honest person. I have to submit to yearly criminal record checks (which I think is more than some school employees need to have.) Every single complaint has to be reported to a central financial authority (Lloyds), and if it's not dealt with, my company gets hit with crippling fines. (And since I don't work for one of the massive insurance companies, "crippling" means exactly that.) You can't "fudge" what counts as a complaint either, because Lloyds can pick random customer contacts and vet them (and they do, as part of our accreditation process). Everything is recorded and kept for a minimum of two years. Every customer has to be told what their rights are, and this has to be done in simple jargon-free language. And everything we sent out, every document, needs to be readable and understandable to someone not familiar with the "business" of insurance. Have I seen examples where things have gone wrong? Yes... but anybody who shows a lack of integrity is not going to last long in the insurance industry, contrary to stereotypes. I've seen the firings. Companies like mine can't afford the bad PR or the fines. I think the difference in perception of the industry from the "insiders" and the negative stereotypes (most of which, I'd like to think, date back to before syndicates like Lloyds came along) is eye-opening. But then... I don't know how far I'd trust a random politician or police officer these days either...

[@TennesseeJed]

@@H0lyMoley Oh I'm sure they punished and monitor the individual agents quite well. Such seems to be the way, kill one person and you are murder, kill a million people and you're a hero.

[@TheMeanArena]

@@LTVoyager I'm completely aware of how insurance works. I'm just agreeing it is robbery like everyone else. You pay for years, get into an accident then have to pay again when honestly a person has paid plenty enough to deal with the issue, not have to pay yet more.

[@homewall744]

Insurance also increases the risks people will take. When they feel protected, they are less concerned with being safe.

[@918Venice]

Brilliant presentation, would never have thought of insurance as food for thought…

[@ligiasommers]

Uauuu she did transform a supposedly boring subject into something quite interesting 👏🏻👏🏻👏🏻👏🏻🙏🏻✨

[@christiansoldier1547]

We also know that the owners of insurance companies are actively lobbing Washington to put caps on insurance payouts. So it makes sense to see you putting insurance into question... Covid shots have began a heavy bleed on insurance payouts. They're loosing profits.

[@shloomyshloms]

at no point have I ever thought insurance prevents something from happening.

[@auliaaliyev4759]

Perhaps because the "magical effect" is subconcious

[@matthewhenwood1009]

As mentioned above risk is a combination of likelyhood and consequence. we equate the reduction in consequence with reduction in likelyhood. She doesn't really address this at all which is pretty disappointing...

[@doloresaldrete176]

Love her dress

[@prosenjeetsarker5262]

I LOVE TED TALK

[@freggo6604]

I'd not be surprised if having insurance against your car getting stolen increases the risk! Reason: Without insurance you are more likely to avoid parking in unlit and other high risk places.

[@d2nd21st]

great presentation

[@thantmyo]

Coming from a place there is no culture of having an insurance, I realized insurance can be a great protection tool if we do it the right way. Without life insurance, no one really care about road safety for example. There are a lot of negligence on the road and loop holes in road safety enforcement including funding for the officers. Instead of insurance corruptions take place to favor the corrupted ones. Recent events killed many civilians in Myanmar by security forces should have been protected if we have a national life insurance policy to protect its citizens. If the lost of lives will cost someone dearly, the tragic events would have been prevented. Let’s consider health insurance as a social responsibility for the overall good of the community ie the premiums paid by the individuals is to be used as a reserved fund to care for the sick and dying ones, that will balanced the inequalities a bit better. The reality is that who can pay the most may not necessarily be the one who needs to spend it. The premium will be used to pay for our unfortunate fellow. Obviously who wants to be sick in order to claim from the insurance. The premiums from the rest of us should not be considered as a loss but as a responsibility towards each other. BUT the whole concept need to be operated under one condition tho. Both insurers and insured need to be honest with good intent, not to abuse or defraud the collectively reserved insurance fund. Otherwise such a great tool to level out our society will become a weapon of mass wealth destruction!

[@rmp5s]

Never in my life have I thought, "well...I got insurance...good to know that won't happen now." Exactly the opposite, actually. Insurance is for the things that you think WILL happen. What a bizarre video...

[@interstellarsurfer]

Most people are ignorant - and insurance companies exploit that.

[@rmp5s]

@@interstellarsurfer This is true, but think about it...would YOU buy insurance for something you don't think could happen? I know *I wouldn't...

[@interstellarsurfer]

@@rmp5s The only time I buy insurance, is when the corrupt government makes me do it at gun point.

[@rmp5s]

@@interstellarsurfer At this point in my life, I like to play it a bit safer. Life/health insurance are definites and, I've been in enough car accidents to know how important car insurance is. 😆

[@humanoid1948]

Great presentation! Who knew insurance could be so interesting 🤔 Orit did!

[@GaasubaMeskhenet]

disasters cause enough relocation expenses without us helping. no more evictions from primary residences!

[@5ds_Komol29_sg5]

ほんと勉強になりますな〜

[@satyam-shibam-sundaram]

Cosmos=quantum adjustment! Life=molecular adjustment! Consciousness=memetic adjustment!

[@GaasubaMeskhenet]

I'm so ready for us to stop playing the stupid game that is money

[@tafadzwautete]

Thank you

[@robobrain10000]

I must be wired differently. If I was witnessing my govt distribute gas masks, I would think that the likelihood of the attack was greater than before. Otherwise why would the govt distribute the masks?

[@christiansoldier1547]

It does what you pay for. If attack is poison gas , mask was good insurance. Health insurance also encourages people to keep up with their health by attending wellness program. So yes insurance is not just a magical thought. If it does what you pay for, it gives a sense of security. Life insurance,,,, if the primary income dies and you don't have insurance, ,,,

[@WhiteSpatula]

But the premium was only X dollars and 99 cents whereas a dollar more than X would clearly have been too pricey! I mean.. it’s a total no-brainer.. right? ;-) -Phill, Las Vegas

[@tka-tpa-prapatankalisari45192]

حضرات السيدات والسادة النبلاء... فأي نظام عالمي يعلي شعبا أو مجموعة من البشر فوق غيرهم سيبوء بالفشل لا محالة، وبغض النظر عن أفكارنا حول أحداث الماضي يجب أن لا نصبح أبدا سجناء لأحداث مضت، وإنما يجب معالجة مشاكلنا بواسطة الشراكة كما يجب أن نحقق التقدم بصفة مشتركة. لا يعني ذلك بالنسبة لنا أن نفضل التغاضي عن مصادر التوتر، وفي الحقيقة فإن العكس هو الأرجح، يجب علينا مجابهة هذه التوترات بصفة مفتوحة، واسمحوا لي انطلاقا من هذه الروح أن أتطرق بمنتهى الصراحة وأكبر قدر ممكن من البساطة إلى بعض الأمور المحددة التي أعتقد أنه يتعين علينا مواجهتها في نهاية المطاف بجهد مشترك. أنقذ كوكبنا🌍🌏🌎 !!!. أشكرك.

[@Homesweethome2186]

Good

[@Coconut-219]

Hello, i'd like to introduce you to the concept of the "Gold Bar Scheme"...

[@mjpalafox1]

Good perspective 👏

[@etcetera3282]

"Insurance is like a religion. Insurance is like a primitive religion. It's the religion of people who believe by having insurance can ward off evil. Frank Kefka Insurance is like a religion. Insurance is like a primitive religion. It's the religion of people who believe by having insurance can ward off evil." Franz Kafka

[@tka-tpa-prapatankalisari45192]

🌍🌏🌎 حضرات السيدات والسادة النبلاء... فأي نظام عالمي يعلي شعبا أو مجموعة من البشر فوق غيرهم سيبوء بالفشل لا محالة، وبغض النظر عن أفكارنا حول أحداث الماضي يجب أن لا نصبح أبدا سجناء لأحداث مضت، وإنما يجب معالجة مشاكلنا بواسطة الشراكة كما يجب أن نحقق التقدم بصفة مشتركة. لا يعني ذلك بالنسبة لنا أن نفضل التغاضي عن مصادر التوتر، وفي الحقيقة فإن العكس هو الأرجح، يجب علينا مجابهة هذه التوترات بصفة مفتوحة، واسمحوا لي انطلاقا من هذه الروح أن أتطرق بمنتهى الصراحة وأكبر قدر ممكن من البساطة إلى بعض الأمور المحددة التي أعتقد أنه يتعين علينا مواجهتها في نهاية المطاف بجهد مشترك. أشكرك.

[@gsftb]

Here is a simple logical claim. Proof me wrong. If people would be getting the insurance money they (really) needed (or at least 50% of the money paid accumulatively) then insurance companys wouldn't be the money collecting tanks as they in fact are.

[@ebrusrkvk2630]

...All is well.. 😂😂😂

[@emilemil1]

One of the most hilarious forms of insurances is to me phone cases. I ask people if they really drop their phones that frequently, and they say yes. When I ask why it's because they often knock it off the table, off the couch, etc. Then I ask why they don't just keep their phone in their pocket where it's safe and secure, and they say that they'd rather not because the phone case makes it bulky and uncomfortable.

[@Joachim1010]

It's a good joke but you can't possibly have your phone in your pocket 24/7.

[@rmp5s]

...until you drop your phone and the screen breaks. It only takes once.

[@twopercentgaming4630]

Cases can be thin and be protective. Plus, it only takes one mistake and your phone is trashed.

[@rmp5s]

@@twopercentgaming4630 Exactly. OP must be talking about those giant Otter Box type cases and, yea...I never liked those. I've used thin TPU cases for years...thin, cheap and somewhat squishy. Works great! The one I have now even has a built in kickstand that's super handy! lol

[@emilemil1]

Reading that the average person drops their phone 7+ times a year (according to Corning), and that 30% of people have cracked screens is mind boggling to me. I've not dropped a phone out of my hand for the 20+ years I've owned one. Some have slipped out of my pocket when I'm sitting or lying down in loose pants, but that's a 50cm fall or less and will at most cause scratches.

[@tka-tpa-prapatankalisari45192]

-- 🌏Indonesian Language. -- Yang mulia, Bpk. President 🇺🇳🇺🇳🇺🇳. Mr. ABDULLA SHAHID beloved 🇺🇳. Aku seorang Gadis yang cantik dan Manis. Aku juga admin. Kayak layaknya mereka Gadis Indonesia umumnya. ... Bpk. President.. Setelah aku baca Sejarah, Mengapa Peristiwa-Berdarah selalu dimulai dari Europe? - World War I - World War II tambah lagi Europe: Mereka menyalakan Perang dalam Cold-War/ Perang dinging, antara Soviets dan USA. Kita pun secara tidak langsung, ikut terpengaruh dalam tragedy itu. Mengapa? -- Tuan Presiden.. Bisnis mereka adalah Peperangan. Ya, dan Bagaimana tidak! Perdagangan mereka adalah; SENJATA, BOM, AMUNISI, dan PELEDAK. Sejatinya, merekalah: Perusak Bumi yang SEBENARNYA. Kemungkinan ya, Mereka akan meraup banyak UNTUNG dalam tiap - tiap peperarang itu. Namun, mengapa?? - mereka menuding secara luas, bahwa: '' AGAMA adalah BIANG dari misi Perang-Dunia. '' '' AGAMA adalah Sumber penyebab dalam Conflicts berdarah berikutnya. '' Sungguh, Anggapan yang demikian, tidaklah selamanya benar!. Argument mereka, nampaknya Keliru. serta Ucapan mereka, ' hanyalah Omong Kosong.' Ketahuilah, setiap # Agama mengajarkan Kedamaian, mengatakan kebenaran bahwa: Membunuh satu orang tak bersalah, Sama halnya, merusak bumi dan membunuh umat Keseluruhan. Justru, # Agama sebagai soluti Tuhan menurun kan # KITAB SUCI. dan # PeranAgama di # Bumi🌎🌏🌍, itulah # Solusi. Thank you | Terimakasih. dan Salam Sehat!. We love you. 🙂 ...

[@somebody6048]

I worked over a decade in insurance so what you are telling me is stupid. You might as well tell me that the sky is blue , water is wet or fire is hot.

[@danathemadan4994]

that was the worst TED talk I've ever seen

[@Od4n]

You are insulting my fellow humans. I have insurance because of the "what if" questions paired with the likelihood of that actually happening. Another insurance I pay for just to shut up my better half and have more time for better topics. I will keep listening, there are 14 more minutes. Maybe that was just a flat start. I refuse to believe that over 80% of people are as limited as you suggest they are.

[@johnfausett3335]

Confirmation that you can sell stupid people anything.

[@thebigdawgj]

Oooh, likes and dislikes disabled. Well, now I'm obligated to immediately dislike the video.

[@AskGaurav]

Like Insurance, pretty useless TED talk ever. Or maybe my fears are unrealistic.

[@yutongyutong8354]

i can learn English here😁

[@hurriyatchuliyeva3248]

zur

[@Thats_my_opinion_so_chill]

Huh

[@Wawiwowuwe]

political BS or insurance talk?😂😂😂😂

[@MrJeorgelee]

6th

[@rioleon9380]

First

[@5ds_Komol29_sg5]

second

[@senorcaveman]

Thank you

[@mjpalafox1]

First