As technology advances, many people are wondering if insurance agents will still be needed in the future. While it is true that some aspects of the insurance industry are becoming automated, there are still many reasons why insurance agents will remain an important part of the industry. David, a millennial who entered the insurance industry two years ago, explains why insurance agents will continue to be needed in the future. The insurance industry is looking for the next generation of young talent to enter the field, as well as experienced professionals who already know the ins and outs of the business.
Insurance companies need licensed and knowledgeable agents to serve and maintain customer relationships. Technology may make it easier for consumers to get quotes online, but it cannot replace the human element that agents provide. Agents take the time to understand what customers need and relate it to the right insurance company. While technology may pose a threat to some aspects of an insurance agent's job, it is more likely that their work will be modified rather than completely eliminated.
Insurance agents will still be needed to interact with customers and provide a human face after the purchase has been made. Independent agents won't have to worry about being fired because they're not employees of an insurance company. The amount of money insurance agents earn annually can differ greatly from agent to agent, depending on the amount of commissions they earn and other factors. The Bureau of Labor Statistics (BLS) states that while the total number of insurance agents is likely to increase, there is also likely to be a high turnover rate as lower-paid agents abandon their positions in favor of other jobs.
This means that there will be plenty of job opportunities available for those looking to enter the field. An important role for insurance agents is to work for an insurance company and sell any type of insurance offered by their company. Life and health insurance require special skills which life insurance agents use well. Even though customers can get online quotes and buy policies without talking to a human being, there will always be a need for knowledgeable agents who can provide advice and guidance. In conclusion, while technology may change the shape of the agent model, it will not disappear completely. Insurance companies need licensed and knowledgeable agents to serve and maintain customer relationships, and there will always be a need for life and health insurance agents who can provide advice and guidance.
The total number of insurance agents is likely to increase, but there will also be a high turnover rate as lower-paid agents abandon their positions in favor of other jobs.