Insurance Sales Agents

92%
Vote
Comments (5)

Will "Insurance Sales Agents" be replaced by AI & Robots?

It's highly likely this occupation will be replaced by robots/AI. However, workers may be able to take some comfort in the results from our poll, which shows a 56% chance of automation within the next 2 decades.

Automation Risk Level

You are doomed

or 92% probability of automation

Projected Growth

9%

by 2024

Median Annual Wage

$49,990

or $24.03 hourly

People Employed

385,700

as of 2016

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Least likely

How this compares with other jobs: 567 out of 706

Cast Your Vote




How likely do you think this occupation will be taken over by robots/AI within the next 20 years?

Job description

Sell life, property, casualty, health, automotive, or other types of insurance. May refer clients to independent brokers, work as an independent broker, or be employed by an insurance company.

SOC Code: 41-3021

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Comments

Luiz Antonio (No chance) says
I voted 'no chance' because insurance sales are very personal and based on trust. The A.I. can have all the technical knowledge to do this. But it can't physically meet with clients, take them to dinner, understand their personal problems, and earn their trust. Although i believe A.I. will help increase insurance sales in the next two decades.
Jan 02, 2020 at 12:52 PM
Swifty says
Auto, Home, and Travel insurance is already being automated now in Poland. The Polish company LINK4 is already doing it. https://www.link4.pl/o-link4/about-link4

And like another has said referring to Amazon, all Amazon has to do is optimize Alexa so she can talk back to you and ask you all the questions needed to properly underwrite and sell you your policy.

Another company to take a look at is Spixii
https://www.spixii.com/infobot
Oct 18, 2019 at 06:07 PM
Billy Johnson (Small chance) says
Robots won't be bright enough to go through the nuances of a specific and unique risk like insurance is. Perhaps for something simple like auto insurance but not for home, business, life, health, etc that is far more personalized to each person walking through the door.
Aug 07, 2019 at 05:43 PM
Chris Duncan says
Where insurance is a commodity with more standardized coverages (BOP, Work Comp, Life, retail property, auto) for personal lines and small commercial, the disintermediation of insurance agents and brokers is already happening in the insurtech world. However, for complex risks and custom insurance for large companies (complex property, liability, product liability, D&O, even "advisor" driven complex decisions like health insurance), it'll be a while. So, rapid change in internet enabled sales and service of routine solutions, but more custom work, still needs advisors.
Jun 23, 2019 at 05:14 PM
Bill Purmort says
The world of risk transfer will continue to be very complex and a artificial replacement may add to the transaction but will never replace it
Apr 01, 2019 at 02:19 PM
Your Friendly Neighbourhood Insurance Broker says
Until it does - look at these online insurer's and brokers. Policy Genius in the US offers quotes across many P&C and Life companies already.

As a client who has unlimited access to information and reviews online, I can spend an hour's time myself comparing 10+ different companies from my couch and never have to step into an insurance office (which face it is extremely dull no matter who you are).

Big players like TD are disrupting the market in Canada with their self serve online P&C products and another of the big ones in Canada, The Co-operators, is pushing their group plans which are completely self serve and offer steep discounts compared to their regular products (I've seen less than half price). Which they can do because they cut out the middle man.

Amazon has also been speculated to start dabbling in the insurance business. Bezos is a conqueror and once he comes for you, it is only a matter of time.

When companies stand to save millions of dollars per year, it will happen. And it will happen quicker than you think.
Apr 26, 2019 at 05:58 AM
Bryan Cryznski says
You're acting like you're smart enough to pick coverage for yourself. Never has there been an industry where people know less than insurance. It's people like you who think you can do it from your couch that are always crying when they have a loss because they chose cheap over adequate coverage on the internet and you'll be complaining to a robot/call center that doesn't care.
Aug 07, 2019 at 05:46 PM

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