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Automation Worries Hit Insurance

Posted By Administration, Tuesday, June 27, 2017

Where employment is concerned, insurance underwriters are on the latest endangered species list. The Center for Business and Economic Research took a look at a number of industries and found insurance underwriters to be the fourth easiest to replace via automation.

Here’s the list of the top-10 “most automatable” jobs in the U.S.:

  Data entry keyers

  Mathematical science occupations

  Telemarketers

  Insurance underwriters

  Mathematical technicians

  Sewers, hand

  Tax preparers

  Photographic process workers and processing machine operators

  Library technicians

  Watch repairers

The report was done for the Rural Policy Institute’s Center for State Policy at Ball State University by CYBR. The reason is because of the worry over automation and how it affects jobs and how foreign competition affects jobs. The research found one in four American jobs are at risk for foreign competition and half are vulnerable to automation.

Another factor? Wages. the 10 highest risk professions earn around $40,000 a year while those with the lowest risk are at $80,000.

CYBR’s Michael Hicks said, “We cannot know the pace or the depth of automation and offshoring, but it is clear that large swaths of the American economy are likely to face these changes. Both trade and automation-related economic growth are hallmarks of a vibrant economy. But the social and political unease that accompanies large shocks felt by the workers is real.”

You can click here to see the full report.

 

Source link: Carrier Management

Tags:  Automation Worries Hit Insurance  Insurance Content  Insurance Industry  Insurance News  Weekly Industry News 

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