Robotization is likely to drive 40% of insurance agencies out of business

The survey conducted with approximately 1500 market professionals found that digital transformation will particularly affect the distribution of insurance products. Nowadays, customers would rather purchase contracts online. Only 24% of the individuals polled think, however, that employment in the insurance sector is under threat of robotization.

The brokerage sector will not be affected by the upset distribution pattern. For this kind of service, customers would rather go to an office in order to seek customized advice. The survey also found that the technological revolution is not the only concern for the professionals. Consecutive regulatory restrictions constitute another equally worrisome issue for insurers.