Insurance is not something we immediately associate with #Tesla.

And yet, during an October 2020 earnings call, Musk said auto insurance could someday account for 30-40% of Tesla’s business!!

Will Tesla's insurance business blow up?🧵(1/n)
The auto insurance industry is worth a whopping $288.4B and has had average growth rates of 2.7% p.a. the last five years.

Tesla entered the insurance business back in 2019 and currently offers coverage to Tesla owners in 3 states, namely- California, Texas, and Illinois.
It’s no secret that Tesla EVs are not the most pocket-friendly. And a 2018 USA Today survey revealed they’re quite expensive to insure as well, with Model S being the costliest.
Now, Tesla’s auto insurance helps it do 2 things: making car insurance cheaper thereby boosting car sales as ownership costs reduce.

But how?
Well, Tesla has adopted the concept of usage-based insurance. Under this, the owner pays monthly premiums based on ‘real-time driving behavior’ and not age, gender, past driving records, etc.
The driving behavior is then used to calculate monthly ‘safety scores’, and users are given premium discounts accordingly.

With this, drivers with average safety scores could save 20-40%, and ones with the highest safety scores could save 30-60% in premiums.
Real-time data can also help Tesla gauge the performance of its vehicle technology and make changes to perfect its car design. This can, in turn, help sell more cars and hence more insurance.
There are roadblocks in terms of selling it to customers and handling higher-than-average customer complaints compared to other insurers.

But, the claims process could be faster since the manufacturer and insurer are the same.
Further, Tesla's vertically integrated supply chain can provide a long-term advantage in the sector with interesting future prospects! Thoughts?

Finshots too is helping people buy health & life insurance for their families with Ditto.

Check out Ditto-

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More from @finshots

12 Jan
Picture your body wash bottle. (Seriously, do it.)

Now imagine this bottle, but in different body shapes of women.

Sounds absurd, right? Well, Dove did it.

This is the story of Dove's disastrous marketing campaign.👇 Image
In 2004, Dove launched its “Real Beauty” campaign- an emotional marketing play promoting self-love and celebrating “real” women. It was super successful, increasing Dove’s sales by multiples.
To promote the same, Dove rolled out “Real Beauty” bottles in 2017.

These were limited-edition body washes designed to mimic 7 different body types of women. Tall, short, curvy, hourglass- you name it, you got it.
Read 7 tweets
4 Jan
Are you the reckless shopper, fretting over your credit card bills every month?

Or the obsessive saver diligently keeping track of every dime?

Well, psychologists say there are 5 personality types, finance-wise, that you may fall into.

A thread (1/n)
👉The Hoarder

This is the kind of person who would hoard cash - piles of it. And we don’t just mean currency notes - saving deposits too. Hoarders want to completely do away with risk, heck, this bunch won’t even invest money.
👉The Splurger

Remember that aunt who brings you the most expensive gift every birthday? She’s a splurger.

This person would max out their budget on birthdays & festivals, getting everyone the fanciest gifts- good for the receiving party, but not for the splurger’s ATM card.
Read 8 tweets
3 Jan
iPhone 8 was followed by iPhone X. Windows 8.1 was followed by Windows 10.

Ever wondered why we never got the nines?

Here's why 👇 (1/n)
No, it’s not because 7 ate(8) 9.

You see, the iPhone X debuted in 2017, which also marked the tenth anniversary of the iPhone. Launching iPhone 9 when celebrating a decade would have been awkward, eh?
Introducing features like FaceID and bezel-less display, the iPhone X was also a huge leap in terms of hardware and design. The number 10 was meant to signify these great changes.

Why was Windows 9 skipped?
Read 8 tweets
29 Dec 21
How Pepsi's marketing campaign turned into a deadly catastrophe.

A thread. 👇 (1/n)
In the Philippines, to be “349ed” means to be duped— all thanks to Pepsi.

Back in 1992, in a bid to beat Coca-Cola, Pepsi rolled out the Number Fever campaign in the Philippines.

It was a simple lottery play—buy Pepsi, collect bottle caps carrying 3-digit numbers, watch the daily announcement of winning numbers, and collect your prizes.
Read 10 tweets
22 Dec 21
Why was JPMorgan Chase fined $200 Mn for Using WhatsApp?

A thread. (1/n)
JPMorgan Chase recently paid a whopping sum of money in fines to regulatory authorities - $200 million. It was caught in the act of…’ using Whatsapp’ to talk business.

Why is that such a big deal?
We know WhatsApp is a great app, but let’s say you’re a huge financial company - now that doesn’t exactly make WhatsApp the ideal route for communication.
Read 10 tweets
21 Dec 21
India’s WPI #inflation stands at a whopping 14.2% - a 30-year high.

What’s fueling the price rise? (1/n)🧵
First things first - we’re talking inflation of ‘wholesale’ prices here. This isn’t ‘retail’ inflation that captures the prices facing the consumer. It essentially tracks factory gate prices - the price at which goods leave the factory for bulk sales.
And so it differs from the Consumer Price Index. For instance, the CPI would give more weightage to food because food prices make a hell of a lot of difference to the average consumer. But when it comes to wholesale, not so much.
Read 9 tweets

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