Insurance Business forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Notify me of new replies via email
Insurance Business | 03 Nov 2016, 09:00 AM Agree 0
Insurtech may be the word on everybody’s lips at the moment, but what impact could the advent of tech have on insurance jobs?
  • D Pearce | 03 Nov 2016, 01:54 PM Agree 0
    Trov and Insurtech can justify their existence in the market place any way they choose to, but, taking advantage of a consumer's desire to avoid discussing their insurance needs amounts to these firms being purely motivated by money. The fact they only provide general advice means the term "Caveat emptor" (let the buyer beware) very much applies here.

    Having little to no knowledge about insurance products means people actually need to discuss their insurance needs. The only way this can be done is to talk to a qualified insurance professional. Insurtech, Trov and the alike are only taking advantage of consumers. ASIC, APRA and FOS are all advocates for consumer protection, but, I do not see how these groups services advance when they rely upon general advice to limit their exposure.

  • Nick b | 10 Mar 2017, 03:01 PM Agree 0
    Consumers are more and more sophisticated, they have access to wider and more reaching information. Travel agents used to be prevalent, but consumers took the risk. There will always be a space for professional knowledge, however lets not kids ourselves insurance is not rocket science. Govern it robustly and let the customer decide.
Post a reply