noncommodifiable
non-kom-uh-DI-fy-uh-buhl
Definition
Referring to services, assets, or qualities that are unique, scarce, or specialized and therefore cannot be treated as interchangeable, mass-produced commodities.
Etymology
Derived from the prefix 'non-' (not), the Latin 'commodum' (benefit or advantage) which evolved into the English 'commodity' (a raw material or product that can be bought and sold), combined with the suffix '-ifiable' indicating the ability to be made into something.
In the news
The author uses this term to describe strategic advantages, such as proprietary data and service quality, that insurance carriers must cultivate because they cannot simply be purchased or rented like basic technology.
When technology becomes easy to rent, what still separates life and annuity carriers?
Read the full article ↗InsuranceNewsNet