Insurance: a gimmick or future vision?

Photo by Teo Zac 

The job at PB Public is to make insurance obsolete.

Could insurance be made obsolete?

PB Public Founder Akish Iskihendric says that it is best there is no insurance on the long run. He means “for nothing, and for everything.”

Akish — who of all things started business with a small stationary business manufacturing bookmarks — has always been the class maverick say mates from his Class (Class of Cool) at Hantaanaa National School.

Today he runs one of the most successful insurance companies on the planet. His customer brochures however say that his long term aim is to make insurance obsolete. For this he has been called a hypocrite by a critical media.

He explained his position on his signature slogan ‘making insurance obsolete’ to this publication.

“If risks are eliminated insurance becomes obsolete. But could all risks be eliminated?. If risk is minimized the resulting eventualities could be catered to free by a fund that works on the basis of risk aversion. Each time a Company puts customers at risk for instance, the Company pays to the fund. Rare eventualities could then be catered to by this fund.”

His detractors say however that Akish’s PB Public strategy is a marketing gimmick. Akish’s response is “it’s some marketing gimmick if I’m advocating going out of business some day.”

In the meantime PB Public has surged, and its stock has risen in a matter of eight months by 300 per cent. PB Public doesn’t show any signs of becoming obsolete anytime soon.