NAIFA Members Serve Main Street

Matt Wagner of NAIFA Business Performance Center Partner, Client Focus, shares what agents and advisors need to know about AI and what it means for the industry.

Artificial Intelligence (AI) for the masses came online in December. It’s called ChatGPT. You can communicate with it at openai.com. It gives impressive answers to hard questions in seconds. Many think it will put Google search out of business. Maybe put schools out of business. AI is coming like a wrecking ball for repetitive, commodity work.

What about insurance agents? I was going to share my thoughts, but then it hit me.

Why not just ask AI?

So I did.

Over the past two to three years, there is no doubt you’ve been through a tremendous amount of change. The pandemic transformed the way we lived and worked. From career security to The Great Resignation, many of us were provided with plenty of opportunities for reflection. You went from working live to virtual and saw family and friends change careers, move from their homes (even total relocations), and pick up hobbies they’ve dreamed about for years.

On August 24, join LIBRA Senior VP of Business Development Jon Jacobs for a 15-minute industry update.

Jacobs will discuss:

• Major trends in insurance and financial services
• The relationship between the insurance and wealth management industries
• The potential impact of brokerage mergers and acquisitions
• How private equity is affecting the industry 

Tune in on August 24 at 1 pm eastern for this webinar in the Building Relationships Every Week (BREW) series.

LIMRA and Life Happens have published the results of their 2022 Insurance Barometer Study. The new study surveyed 8,517 individuals and shows two key trends: life insurance is key to financial security and gender gaps extend to life insurance coverage.

Financial Security with Life Insurance

While financial insecurity affects all age groups, more life insurance owners (68%) report feeling financially secure than non-owners (47%). Additionally, the COVID-19 pandemic had increased awareness of the need for life insurance and 31% of those surveyed say they are more likely to buy life insurance this year.