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The Agent and the Machine: How Artificial Intelligence, Big Data and Machine Learning is Changing the Role of the Insurance Agent
Length: 3 hours
In 2013, McKinsey & Co. predicted that “where agents once served as the front line in risk selection and pricing, advances in predictive models are making this role obsolete.” This prediction was met with scoffing and criticism from the insurance community, but the future has arrived in the insurance industry and we already see these changes occurring in certain market segments and rapidly spreading to others.
Frank Pennachio, Principal, Oceanus Partners, Resource Pro Company
Frank Pennachio has more than 30 years of experience in the insurance industry as an agency owner and producer. In 2009, he sold his agency and co-founded Oceanus Partners with Susan Toussaint. Today, he is a full-time trainer and consultant to independent insurance agents, insurance carriers, agent associations, and technology companies with “agent as customer.” Recognized as a thought leader in the industry, Frank regularly speaks at conferences and his articles are published by national and regional trade publications.
