Artificial intelligence and digital tools are transforming the insurance landscape, but contrary to popular belief, technology isn't making human agents obsolete — it's making them more essential than ever.
According to Statista, the U.S. life insurance and annuities market is projected to reach $1.54 trillion by 2029, highlighting the sector's growing significance. While many InsurTech startups aim to automate claims and streamline underwriting, a segment of the industry is focused on empowering agents through digital tools—reshaping, not replacing, their role.
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Agents, Not Algorithms, Drive Trust
Despite the digital boom, trust still drives decisions in the insurance world. A 2024 global survey by experience research provider UserTesting found that 88% of adults prefer speaking with a human advisor over AI or automated systems when seeking insurance advice. These results underscore the continued importance of human interaction, especially for multicultural communities that rely on trust-based relationships.
"People want insurance processes that are clear and easy to navigate," said UserTesting Principal Marketing Manager for Insurance Solutions Bee Nookala. "While human advisors remain critical, AI offers insurers a way to help customers navigate complex policies more efficiently, provided human support is always an option when needed."
According 2024 AI in Insurance report by insurance software provider Insurity, 50 % of U.S. consumers oppose AI being used for claims decisions, while 45% said they oppose AI being used in underwriting.
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A Model For Economic Mobility And Legacy Building
"It's not just about business, it's about transformation," Honeycutt Insurance CEO Tray Honeycutt told Forbes. "We're helping everyday people become leaders, providers, and entrepreneurs. And when people grow, the business grows."
Rather than automating people out of the process, Honeycutt Insurance is focusing on equipping and mentoring agents to reach underrepresented communities and grow their business.
By combining digital platforms with hands-on support, new full-time agents under Honeycutt's model can generate $15,000 to $30,000 in monthly issued premiums, Forbes reported. "When people grow, the business grows," Honeycutt said.
Beyond income opportunities for agents, life insurance is playing an increasingly important role in legacy-building and wealth transfer.
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Looking Ahead
As automation and artificial intelligence transform the insurance industry, customer expectations for service are rapidly increasing. According to a 2023 McKinsey survey, more than 70% of customers prefer interacting with a human agent for complex insurance needs, whether in person or over the phone, for complex claims, while only a minority opt for digital-only platforms. The report also found that customer experience leaders in insurance consistently achieve higher customer retention and stronger financial performance, underscoring the value of investing in both digital innovation and the human touch.
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