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by petra 2197 days ago
So from your insider vantage point, how will the insurance job market look in 5-10 years ? What jobs, if any, would be left ?
3 comments

I don't work directly for insurance companies so I am not a good judge of what jobs will be around. I would expect that any job that deals manually with claims--line entry, price evaluation, even fraud detection--will decline, maybe a lot. However, I don't see them going away entirely--there are just too many anomalies and the data you're dealing with is too dirty. That's not sticking my neck out too much; you can say pretty much the same thing for any broad industry. :)

I assume that Lemonade is banking on doing away with almost all manual processing so they're ideas are different from mine.

I think we’ll see the insurance market transform in a similar way that we’ve seen the financial services market transform. Although, it will go in slow motion, since the gains in insurance aren’t as immediately-accruing as they were in equity and credit trading.

You’ll see the same kind of jobs that exist today, but they will be smaller in number, and way less paper-oriented.

Many. Insurance is hardly one type of job and many lines of insurance (e.g. for larger multi-national corps, for certain types of property, and etc.) aren't automated anywhere near the level of what you see in Lemonade's marketing/website/systems.