Will artificial intelligence sales platforms make annuity agents obsolete?

Will artificial intelligence sales platforms make annuity agents obsolete? Not yet, according to a new study from Novarica, a Boston-based technology advisory and consulting firm.

ThinkAdvisor reports while it may seem like U.S. individual annuity issuers are moving away from live-human agents and advisors….issuers’ IT spending records show a different message.

ThinkAdvisor says the Novarica report shows annuity issuers are making customer portal projects mid-level priority. Billing system projects and document management system projects are considered low-priority projects. As for the list of high-priority projects? That includes reinsurance management systems, business intelligence systems, and agent portals.

ThinkAdvisor adds the report says issuers need more IT help to deal with projected increases in workloads.

So it does appear that most people considering a purchase of an annuity will be looking for an experienced professional while the technology continues to evolve.