Integrity in Sales
December 12, 2024
Here at the Pritchett Agency, we believe that your word is your reputation, your character,
November 1, 2023
In this new millennium, technology and its advancements have proven to be both a blessing and a curse to businesses and consumers alike. As technology gains new functionality and features, it subsequently also gains vulnerability and complications. The life insurance industry is no stranger to these ebbs and flows of advancing technology, and COVID was the largest catalyst for change in the industry in recent years. Agents were faced with the challenge of learning and adapting to a virtual setting, or else losing business. Similarly, clients had to consider the loss of personal touch when buying insurance while staring down the barrel of a rapidly spreading global health crisis.
As with most new things, the industry adapted swiftly, and it’s even seen record life insurance sales in the wake of COVID. However, the life insurance industry, along with many others, is now faced with a new goliath: AI. Artificial intelligence has been on the horizon for a few years, and it now appears to be here for good. So, with this new technology and its imminent blessings and curses, should we be afraid?
The short answer is no. Though AI may bring a certain degree of uncertainty, the technology is still not consistent enough to be used independently. For example, if this blog was written first with AI (it was not), it would have taken the same amount of time to tweak, tune, proofread, and revise as it would take to simply write from scratch in the first place. Yes, AI is still in its infancy, and users are understandably concerned about the security of these services. We will leave those concerns to the experts, but let’s discuss how AI can work for us.
First, agents can use AI to maximize their schedule and increase their efficiency and productivity. After all, scheduling and prioritization is one big math problem, and AI solves math problems well. There are many services that can take daily tasks with assigned time values and present a reworked schedule in a way that optimizes all that you have to accomplish.
Additionally, AI can be a great help while insurance agents are meeting with their clients and even other agents. There are services that transcribe, translate, and notetake in real time during conference or web calls. This allows agents to cut out the tedious portion of running a client appointment or a team meeting to provide clear and concise notes for their team or client. These programs also address the issue of a client-agent language barrier; with translation in real-time, agents are able to provide an essential service to their client without the delay of involving a translator.
Finally, and perhaps most obviously, AI shines in assisting agents and team members in the creative fields. At this point, we have at our disposal a myriad of creative programs to write, record, illustrate, animate, and edit. Agents looking to market their business can use AI to write a first draft of a social media post, and then use a different program to create an eye-catching design to accompany the post. Agents looking to organize and present training material for their team can use AI to accomplish just that. Again, AI will not complete any of these tasks perfectly, but it provides a springboard from which agents can produce more efficiently.
As this industry’s workforce gets younger, and as technology continues on its upward trajectory, it’s important for agents to familiarize themselves with the latest technologies for the sake of them and their clients. There are simply too many applications for AI to mention all of them here, but it is important to do your own research on what is available. A great place to start is here.
If fear comes from a lack of understanding, we should not fear AI, we should seek to understand it.
Here at the Pritchett Agency, we believe that your word is your reputation, your character,
Insurance agents face challenges daily. Whether it’s losing a big sale, facing rejection from a
The perfect moment never comes. Instead, consistent action is what sets high-achievers apart. We want