How has Technology Affected Insurance Agents and Stockbroker
In the last decade, the financial services industry in Singapore has revolutionized. As the society becomes more affluent and literate, consumers have higher demand and expectations of services. This is true to the younger generation who are more IT (Information Technology) savvy. Technological advancement, acting as a catalyst, has accelerated the changes in the financial services industry. According to our findings, we anticipate that there will be a more vigorous and drastic change in this industry in the future. We also decided to focus on two occupations, the insurance agent and the stockbroker, based on the Singapore context.Over the last decade, the nature and the requirements of work of insurance agents have undergone many transitions. These changes occur due to several factors such as demographic shifts, liberalization in the financial industry and the development of technology. The development of technology, as compared to all other factors, plays a significant role in the revolution of the insurance industry, changing the nature and work requirements of an insurance agent. An insurance agent must have the abi
With the younger generation being more IT-savvy and less conservative, technology has replaced some of the responsibilities of an insurance agent. Nevertheless, they are still irreplaceable because of the need for personal advice, which the computers are unable to provide. With the further developments of technology, the economic developments will become even more transparent and the clients will be more exposed to the open market. Therefore, in future, stockbrokers will have to adapt to the technological changes and upgrade themselves to fit into this technological world. Knowledge, skills and personal attributes
Some topics in this essay:
Requirements Knowledge,
Head Office,
Hsien Loong,
Nature Job,
Systems2 InsureNet,
Stockbroker Conclusion,
Responsibilities Similar,
Scripless System,
Insurance Conclusion,
Authority Singapore,
insurance agents,
personal attributes,
insurance agent,
near future,
insurance industry,
online trading,
nature requirements,
significant role,
undergone transitions,
society affluent,
job scope responsibilities,
significant role revolution,
factors plays significant,
nature job scope,
plays significant role,
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Approximate Word count = 2546
Approximate Pages = 10 (250 words per page double spaced)
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