Insurance companies and the big banks have been trying to get a better grasp on what people need to know about managing their money.
For decades, they’ve been using a series of “expert” consultants, who use the same set of assumptions that insurance companies and banks use to manage risk.
But experts have been making progress.
In this week’s issue, Marketplace examines what’s going on with those experts and how to avoid the mistakes of the past.
Marketplace contributor and senior adviser to the American Insurance Association, James B. Cate, discusses why insurance companies are so focused on using the same assumptions that they’ve used for decades.
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