Jobs facing the highest risk of being done by AI are budget analysts, loan officers, accountants, insurance sales agents and paralegals.

[goillini52]

Sounds like something an AI would say...

Would AI misspell the word "steal"?

 

[WinoBlues]

Would AI misspell the word "steal"?

.
Smart AI would.

 

[dkurzend]

Sounds like something an AI would say...

No, rather someone who holds a master degree in AI

 

[Riskfreak]

.
Smart AI would.

Exactly... We need to remain vigilant

 

[Riskfreak]

No, rather someone who holds a master degree in AI

What's a master degree in AI?

 

[WinoBlues]

What's a master degree in AI?

 

[Allen Trent]

My tiny hand wasn't presenting any limits with your mamma last night.

Boom!

Now I see that Alanis was singing about you on a movie date. Makes more sense now as to why she couldn't use her hands

 

[Edwardfin]

I hightly doubt insurance agents will be replaced by AI. I do think it is foolish for insurance agents not to take advantage of using AI.

 

[TEHKORAH]

According to AI they won't......

will ai replace insurance agents

ChatGPT
The role of AI in the insurance industry is indeed evolving, but it's unlikely that AI will completely replace insurance agents in the foreseeable future. Here are a few reasons why:

1. Complexity of Interactions: Insurance often involves complex interactions that require human empathy, judgment, and understanding. AI, while excellent at processing data and providing information, may struggle with the nuanced and sometimes emotional aspects of customer interactions.
2. Customer Preferences: Many customers still prefer to interact with a human agent, especially when it comes to making important decisions about their insurance coverage. Trust and personal relationships play a significant role in these interactions.
3. Regulatory and Ethical Considerations: Insurance is highly regulated, and there are ethical considerations involved in providing advice and making recommendations to customers. Human agents are better equipped to navigate these complexities.
4. Adaptability: AI is improving in its ability to handle routine queries and tasks, but it may struggle with unique or unusual situations that require creativity and flexibility—areas where human agents excel.
5. Consultative Role: Agents often serve as advisors, helping customers understand their options and making personalized recommendations based on individual needs. This advisory role requires a level of understanding and empathy that AI currently cannot replicate fully.

That said, AI is already transforming the insurance industry by automating routine tasks, improving underwriting processes, enhancing customer service through chatbots, and providing data-driven insights. The future is likely to involve a blend of AI and human agents, where AI supports agents in providing better service and efficiency, rather than replacing them entirely.

Also generated with AI?

 

[TEHKORAH]

In the end that at the very least means less agents needed and you can bet your bottom $ carriers will think of cutting comp to save money . Look at the chaos in p&c . State Farm is asking for a crazy 30% rate increase increase for all of California for homeowners . They could care less if most of California drops their policys . Why would they pay much if any commission for something they don't even want ? I read many p&c CO's went to zero or low commissions in some areas . What's happening in p&c is slowly spreading to Medicare and even fe ( 4 or 5 carriers have exited fe). If Medicare carriers profit margins are under assault why would they pay the same commission to agents or even overrides ? Agent comp is one of their biggest expenses . I was looking at the financials of royal neigbors a fe and annuity com. They bright in $170 million or so of premiums . Their commissions paid out was a staggering $49 million . State Farm agents in the old days made 12 to 15% commission . Now must make 8-9%. It only makes sense if the carriers not as profitable then the agents comp gets cut . In all industries things change . The agent still very needed . Maybe just not at the same commission levels

And top that off, many agencies have been forced to close due to loss of policies/NIs that cannot afford the abhorrent increase in premiums. Starting to happen down here in lower Southeast...