A startling statistic is rattling industriesworldwide: 7percent of jobs will cease to exist due to automation.The fear that underlies this unspoken truth is that no job orindustry is immune to machine learning. This isbecoming even more apparent in the world ofinsurance where major groundwork and investment is being devoted tothe mining of big data and consumer analytics automation.

While technology powers the automation of data-driven resultsand decision support in the insurance industry, many things can’tbe solved by an algorithm. What brokers can do today to competewith AI and automation is to simply tap into what is alreadyallowing them to thrive: expertise, education and explanation,empathy, and embracing what will accelerate their business into thefuture.

Expertise

When it comes to a major financial decision like insurancecoverage, it comes as no surprise that group or individuals look toexperts in the field to help. Brokers are the go-to expert forthousands of individuals and businesses and provide years ofinvested knowledge and field experience that cannot be replicatedelsewhere, including the smartest of technology. With their honedexpertise, brokers are able to assist their clients with theircurrent needs and anticipate what lies ahead.

Education and explanation

The expertise of brokers leads to their most cited need when itcomes to insurance: education. The complexity of the insuranceindustry, coupled with the lack of transparency, means that brokersare not only the window into insurance policies, but also the chiefcommunicator to their clients. Being the “chief communicator” alsocomes with the responsibility of the role of the “translator.”While businesses and individuals are bombarded with informationfrom insurance companies or details on their policies, brokers actas the guide to answer questions and synthesize the informationprovided in clear language.

Empathy

Perhaps the most human experience of all is that of empathy.Empathy may be a buzz word in the tech world, where developers arestriving to keep up with the user experience or decision support,yet no technology can tap the conscious humanexperience of relating to one another. When it comes to clientsstruggling with managing payroll, growing a business, andunderstanding and complying with regulations, brokers are on thefront lines to manage it all. Not only can brokers relate to theirclients struggles, they see these struggles every day and can offertrusted support, not just services, to theirclients.

Embrace

Good brokers are able to tap into their expertise to provideeducation, explanation and empathy to their clients; but trulygreat brokers take it one step further: they embrace the future oftheir industry. Instead of fearing change, these brokers are changeagents, constantly looking for better and faster ways to deliverbetter and faster results for their clients. Change agents areempowered by the potential of technology.

These brokers thrive because they embrace the combination oftechnology and human interaction and are ready to be the brokers ofthe future.