Professional Insurance Agent


What does a Professional Insurance Agent Do?

Today an insurance agent performs two broad roles.

  1. They are the Gatekeepers for the purchase of insurance policies.
  2. They provide advice on what insurance products their customers need and how those products can be structured to best protect their customers from loss.

To offer these services there are a large number of tasks the agent performs on a regular basis. Many of these tasks have long ago been automated. A partial list of regular tasks include…

  1. Quoting. Developing the price of the recommended insurance products by “rating” the policy.
  2. Completing applications, certificates of insurance and other forms.
  3. Communicating with customers to answer their questions.
  4. Reviewing current insurance products with customers to be certain they are up to date with changes in the customer’s needs or in the contractual insurance policy.

Quoting has been automated both in the agency and to a limited extent direct to the customer.

Completing applications has been partially automated.

Communicating with customers to answer questions and reviewing existing insurance policies has not been automated at this point.

It is my position in this presentation that you can now break out many of the tasks of answering questions and policy review today and gain a tremendous competitive advantage.

To understand this better it is instructive to look at the brief history of Robo Advisors in the Financial Investment marketplace. This is the first place they have appeared.