Why 92% of auto insurance sales jobs will go away in the next 5 years, and the specific website and agency mobile tools and technology you need in place to protect your agency.
https://attendee.gotowebinar.com/register/563566059410881537
Mobile and Tech Boot Camp for Insurance Agents - Session 2: Monday, June 5, 2017:
https://attendee.gotowebinar.com/register/563566059410881537
Why 92% of auto insurance sales jobs will go away in the next 5 years, and the specific website and agency mobile tools and technology you need in place to protect your agency.
According to the website “Will Robots Take My Job” (https://willrobotstakemyjob.com/)
Insurance agents face a 92% chance and insurance underwriters face a 99% chance that their jobs will be replaced by automation.
While I absolutely agree that the insurance underwriting position is doomed, I believe that the insurance agent role will transform not completely go away.
By transform I mean that the days of getting paid a handsome commission to sell a product like auto insurance is coming to an end. Insurance carriers understand that an auto policy can be quoted, risk assessed with individualized data from multiple automated data storehouses like Google, Amazon, Facebook, Credit Bureaus, and similar data gathering systems, underwritten, and delivered through online automation without human interaction.
Auto insurance agents will have to start offering more products that aren’t turn-key, but require an advanced level of customer interaction and agent knowledge such as commercial insurance and financial service products.
While the property and casualty insurance agent role will not go away, the industry will need a lot less property and casualty agents and agencies to sell and service P and C products and the focus will shift to “after-the-sale” interactions, which unfortunately should be, but is not a priority for most insurance agencies.
That is why the Inspire a Nation New Customer Process is built into the pay structure of agency staff members.
Successful insurance agents in the future will have to be tech savvy, diversified in their product offerings, have websites and mobile apps that allow customers to easily communicate with the agency utilizing technology, and allow customers to perform many do-it-yourself tasks through the website and mobile apps.
This also means that agency staffing needs will change. In the future insurance agency staff will need to be more tech savvy as they will have to communicate with customers by: mobile apps, agency level text messaging, live chat, live 2-way video meetings, and who knows what else technology will evolve to in the future?
Commercial insurance, group benefit agents, and agents that sell detailed and multi-layered insurance products will always be relevant, but even their business model will have to transform to match the technology trends that are sweeping across the insurance industry.
Captive agents/agencies that focus on auto insurance will take the brunt of the job losses.
Captive agents are specifically at risk because they own and control very little of the customer’s data, and it’s the data that is controlled by captive carriers that will allow them to utilize artificial intelligence and technology to offer not only a complete insurance experience, but an advanced technological experience as well.
Many captive insurance carriers are limiting an agents ability to download customer information in bulk such as a spreadsheet of customer contact data or key information such as renewal dates and birthdates.
This could be out of fear that the captive agent will communicate with customers outside of the carriers proprietary tools, or it could be in an effort to control the data at the corporate level and not give an agent the opportunity to take the data with them as the insurance agent position is weened from the company.
Websites controlled by captive carriers are not always directing prospect information to the intended agent but to agents that are closer to the prospect, produce more sales of the product requested, or that have a better track record of following up on web based leads.
If anything mentioned above could impact your insurance agency you need to register and attend the:
Mobile and Tech Boot Camp for Insurance Agents - Session 2: Monday, June 5, 2017:
https://attendee.gotowebinar.com/register/563566059410881537
