Automation is Replacing Many Jobs, But Insurance Remains a Person-Driven Field

Jan 30, 2014 | News

Looking for a career with a future? Consider insurance. While automation may claim as many as 47% of current jobs by 2033 according to a recent Oxford University study, the insurance industry is growing and more people will be needed.

According to Statistics Canada, more than one million Canadians were employed in the insurance and financial sector in 2012 – and there’s always room for more. Think about it; that’s one million Canadians gainfully employed and enjoying a rewarding insurance career!

The insurance industry is still expanding, with more opportunities for newcomers to the industry. Consider these facts from Insureconomy, a review of the insurance sectors in Ontario, New Brunswick and Nova Scotia:

• From 2004 to 2010, total employment in the insurance industry across New Brunswick grew by 49 percent – faster than all other provinces in Canada.
• The insurance industry has been growing steadily in Ontario since 2005, with insurance carriers increasing their workforce by 18 percent. Overall, the insurance industry increased total employment by over 12 percent – well above the provincial employment growth rate of only 4 percent.
• Direct employment in Nova Scotia’s insurance industry has been on the rise since 2005. From 2005 to 2008, 655 new jobs were created by the insurance industry.

If you’re planning a career that spans beyond the next decade, you may want to strike the following jobs off your list. Why?

“In the future, it’s very likely that many of today’s jobs, from cashier to teller, will be automated and the need for real people to take on these roles won’t be needed as technology will catch up and take on these responsibilities,” says Scott Dobroski, Glassdoor community expert.

“Themes people should be aware of include low-skilled jobs being likely replaced by automation first, such as telemarketer or typist, whereas jobs requiring creativity or a social aspect to them are not as at risk.

Bank Teller
When was the last time you used the services of a human bank teller? Chances are, unless you had to perform a complicated transaction, an ATM got the job done. Mark Gilder, director of distribution strategy at Citibank, told MarketWatch recently that “at least 85% of the things you can do at the teller, you can do at the ATM.” Citibank is experimenting with video-based tellers and ATM-based loan applications in Asia.

Cashier
Cashier seems like an obvious example of an occupation that can be replaced by a machine. If you’ve been to a grocery store recently, you’ve doubtlessly noticed the rise of self-checkout machines. Indeed, the number of self-checkout machines may be as high as 430,000 worldwide — more than quadruple the number in 2008.

Receptionist
Thrifty companies can now avoid hiring someone to answer the phones thanks to software programs Virtual Receptionist, while others are being outsourced by the likes of Davinci Live Receptionist. Meanwhile, in Japan, some have also experimented with actual robots. As consumers know, though, getting your call routed to a machine is off-putting, which is one reason receptionists aren’t being replaced en masse — yet. 

Telephone operator
Telephone operators — defined as people who answer phones for companies and overnight call service like doctors and so on — are a vanishing species thanks to outsourcing and ubiquitous automation. Yet Recruiter.com predicts a slight increase in jobs in the category over the next few years.

Mail carrier
Email is causing the overall amount of snail mail to drop — there were 171 billion pieces delivered in 2011 vs. 2010 the year before — and the U.S. Postal Service is having major financial problems. The combination has prompted the BLS to forecast a 28% decline in mail carrier jobs through 2022. Canada Post is also facing massive cuts as it continues to lose money.

Travel Agent
Years ago, there was no Expedia or Orbitz. To book a flight somewhere, you had to visit a travel agent, who would presumably get you the best deal possible. These days, many view the occupation as superfluous, which is why the BLS is forecasting a 12% decline is such jobs by 2022.

Typist
Can you picture a modern CEO telling his secretary to “take a letter”? Perhaps. But in these days of blogging CEOs and voice-recognition software, the notion is increasingly antiquated.

Newspaper reporter
Blogs plus aggregation services like Google News are making the average consumer less reliant on newspapers. As a result, the number of newspapers is dropping.

Data Entry Associate
Software has also mimicked data entry, obviating the need for humans to perform the job.

Telemarketer
Few will mourn their passing, but telemarketers are increasingly being replaced by robocalls, which can do the job 24/7 and maintain their perkiness no matter how many times consumers hang up on them.

So, still wondering if insurance is a good career choice? With ILScorp you can be licensed and ready to start working in just weeks or months, with no need for years of schooling. With a number of insurance licensing options, depending on which province you live in, ILS can get you licensed, or help you prepare to write your province’s licensing exam.