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Insurance Business | 18 Oct 2016, 11:25 AM Agree 0
Technology is supposed to take insurance into a new era – but could it actually hurt insurers too?
  • Andrew | 18 Oct 2016, 12:25 PM Agree 0
    Yes technology will change the way people buy their insurance, but it wont change the fact you need a live person to interpret, communicate and advocate for the consumer. Insurance contracts are legal contracts and this will always require a human being to communicate the nuances of the contract to people regardless of what technology can do to make the transaction faster. If you think technology will replace a human being then ask your self this question, how will e&o and courts deal with material changes that must be communicated and interpreted to the consumer by a trained expert be handled if technology replaces people. I only see technology benefiting a small sector of the insurance consumer base, however the benefits to a brokerage are significant if used. I do believe that some form of technology for simple transactions can be automated with technology, but this will take a generation of change to really take hold.
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