Type of Job:

White collar
Generative AI will change white-collar jobs by automating tasks or helping workers. Highly educated jobs may face the most impact, while blue-collar jobs may see higher demand and pay.

What Constitutes Artificial intelligence (AI)?

Artificial Intelligence (AI) is a technology that allows systems, whether software or machine-based, to autonomously make predictions, recommendations, or decisions that impact both real and virtual environments without the need for constant human guidance or intervention.

Sources

Author:

Juan D. Montoya

Juan D. Montoya

Economist and AI researcher.

Will Insurance Sales Agents be replaced by AI & Robots?

Insurance Sales Agents risk of being automated:

High

This job is highly likely to be substantially automated within the next 20 years, placing it in the upper quartile for automation probability among occupations.

Current Degree of Automation:

44
(1-100)

Source

Key findings

In the future, GenAI will revolutionize the role of Insurance Sales Agents.

AI will streamline tasks like market analysis and data entry, enhancing decision-making processes.

It will automate routine activities such as scheduling and writing, improving efficiency.

GenAI’s ability to generate text and multimedia content will enhance user support and communication.

Moreover, its data retrieval capabilities will aid in sales strategies and client interactions.

The skills of critical thinking, persuasion, and time management will remain essential, but GenAI will augment these abilities, allowing agents to focus on strategic planning and customer relationships.

How could AI or automation replace or complement job activities?

AI, automation, or LLMs could potentially automate tasks like digital data processing, information ordering, and memorization for Insurance Sales Agents.

These technologies could assist in customizing insurance programs, explaining policy features, and developing marketing strategies.

For example, AI could efficiently process client data to recommend suitable insurance plans, freeing up agents to focus on building client relationships and expanding their clientele.

Job description

Sells different types of insurance like life, property, health, and automotive. Can work independently or for an insurance company. May also refer clients to other brokers.

Consequence of Making Errors

50

(1-100)

Moderately serious Source
In finance, the moderate consequence of errors in insurance sales doesn't directly indicate automation potential.

How Repetitive is the Job?

70

(1-100)

Very important Source
Insurance sales agents often perform repetitive tasks, making them more vulnerable to automation. However, automation will likely target specific tasks, not entire roles, allowing agents to focus on more complex interactions.
Average Anual salary USD$
$76,950
Number of profesionals in USA
632,000

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Do you think Insurance Sales Agents will be replaced by AI?

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