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Transcript

Why Social Media And AI Can’t Replace A Licensed Insurance Adviser · That Home Loan Hub

• 0:10
  SPEAKER_00: Do you rely on social media to provide you with an advice on everything in life?
• 0:16
  SPEAKER_00: Then hey, this is an episode for you to listen in and learn there are things you shouldn't really rely on social media to give you advice on.
• 0:25
  SPEAKER_00: Hello, Rebecca.
• 0:26
  SPEAKER_00: Hello.
• 0:27
  SPEAKER_00: That was a really long sentence.
• 0:29
  SPEAKER_00: Social media and life and everything that we're living in right now.
• 0:33
  SPEAKER_00: We live in such an interesting age of um things that are developing.
• 0:38
  SPEAKER_00: I mean, 20 years ago we didn't have that, right?
• 0:40
  SPEAKER_00: Before we, if we needed advice on something, we'll call an expert.
• 0:44
  SPEAKER_00: Now we have keyboard warriors and we have couch experts.
• 0:49
  SPEAKER_00: Absolutely.
• 0:49
  SPEAKER_00: That will give you advice on literally anything in life, including insurances.
• 0:55
  SPEAKER_00: We've seen so many posts recently that.
• 0:58
  SPEAKER_01: Yeah, so there are a lot of noticeable posts, people blow, I've got this type of insurance.
• 1:02
  SPEAKER_01: Should I have it?
• 1:03
  SPEAKER_01: Do I need it?
• 1:04
  SPEAKER_01: And I mean, sure, these people could be advisors, I don't know, that are commenting back, but it's not fully it's not proper advice, first of all.
• 1:13
  SPEAKER_01: But people following along opinions of people online, they don't know anything about these people.
• 1:19
  SPEAKER_01: Telling them, oh no, you don't need that type of cover, or I saw one the other day and it was about actually about life cover.
• 1:27
  SPEAKER_01: And this person had put on the, you know, I've got this amount of life cover, it's costing a lot, you know, and someone said, Oh, you wouldn't need it anyways.
• 1:33
  SPEAKER_01: Your kiwi like if you've got kiwi saber or to pay out, etc.
• 1:37
  SPEAKER_01: You know, might be more expenses.
• 1:39
  SPEAKER_01: But then that person edited the post and actually gave a bit more info.
• 1:42
  SPEAKER_01: They've got a mortgage, they've got kids, right?
• 1:45
  SPEAKER_00: And I was about to say, right?
• 1:47
  SPEAKER_00: We when we when we see things online, we're only going by limited information we get in that particular moment.
• 1:54
  SPEAKER_00: Exactly.
• 1:54
  SPEAKER_00: We don't know all the ins and outs, we don't know the income, outgoings, expenses, dependence, what they do for work.
• 2:02
  SPEAKER_00: Yeah, exactly.
• 2:03
  SPEAKER_00: And how they work would impact, would have an impact on their life, or their life will have an impact on their work.
• 2:10
  SPEAKER_00: So they might be self-employed, like me, for instance.
• 2:13
  SPEAKER_00: If I'm out of the picture, you guys are gone.
• 2:16
  SPEAKER_00: You know, yeah.
• 2:17
  SPEAKER_00: So so I need to make sure that I'm insured up to the wazoo that my business can continue going if I'm not in the picture anymore.
• 2:25
  SPEAKER_00: So, yeah, so this is crazy that this is what it's coming down to at the moment.
• 2:30
  SPEAKER_01: And I think as well, the more that AI gets out there as well, like ChatGPT and all of that side of it as well, people asking that questions about insurance is another interesting one.
• 2:43
  SPEAKER_01: Because you've got to ask very specific questions about insurance.
• 2:46
  SPEAKER_01: I I actually gave it a go the other day.
• 2:48
  SPEAKER_01: Like, you know, if you ask about insurance, say trauma or anything like that, you've got to specify New Zealand, first of all.
• 2:56
  SPEAKER_01: Like if you want information specifically about trauma here, it will just pull stuff from all around the world.
• 3:02
  SPEAKER_01: If you ask about just insurance in general, most of the time it comes up about general insurance, nothing about the risk space, because that is the biggest thing out there.
• 3:10
  SPEAKER_01: General is what everybody wants.
• 3:12
  SPEAKER_01: So asking a question of AI or a chat bot or anything like that, you've got no idea if you've given them the right information to get the right answer.
• 3:22
  SPEAKER_01: Plus, they don't, I mean part of our job as advisors is having that talk and being able to ask the questions to get an idea of your situation and what's important to you.
• 3:36
  SPEAKER_01: Doing it via an any online thing, quite frankly, you can't get that full picture.
• 3:44
  SPEAKER_01: You might think you've given all the information necessary, but until you have that conversation with an advisor who asks the questions, there's things you don't even think of.
• 3:54
  SPEAKER_01: I don't know how many times I've asked a question and the clients actually come back and say, Oh, actually, we haven't talked about that or I haven't thought about that.
• 4:01
  SPEAKER_01: So if you don't know what to answer, you can't really ask the question.
• 4:07
  SPEAKER_00: Exactly.
• 4:08
  SPEAKER_00: And I think a lot of people don't realize, but like Chat GPT and AIs, they are designed to look at what has been and what's not coming.
• 4:16
  SPEAKER_00: Yeah.
• 4:16
  SPEAKER_00: So they can't really tell you about all these cool features that we know about that are coming because it might not have been published yet on the internet.
• 4:24
  SPEAKER_00: Yeah.
• 4:24
  SPEAKER_00: So they might not know that hey, you can actually split your product into severe trauma or not severe trauma, full trauma, etc.
• 4:34
  SPEAKER_00: etc.
• 4:34
  SPEAKER_00: So often when you do get involved with ChatGPT, it's a great start.
• 4:39
  SPEAKER_00: Absolutely.
• 4:40
  SPEAKER_00: You know, we don't want to discourage you.
• 4:42
  SPEAKER_00: Definitely starts the conversation, and any conversation about insurances is better than none.
• 4:46
  SPEAKER_00: But don't take the social media word for gospel, or don't take the AI advice as a proper professional advice, because it's almost like diagnosing yourself using ChatGPT with something.
• 4:57
  SPEAKER_00: And I mean, I've tried using that for different diagnoses, and I found that hilarious.
• 5:02
  SPEAKER_00: But this is why we exist, and I think this is where the power of social media will come in, that you will get all these different opinions of what you should be doing with your life, and then you could bring that to your advisor for the conversation.
• 5:18
  SPEAKER_00: Yeah.
• 5:19
  SPEAKER_01: So it gives you a starting point, like you said, and gives you talking points, and it does get you thinking, but might not always thinking the right thing for your situation.
• 5:29
  SPEAKER_00: Because remember, ChatGPT was also designed.
• 5:32
  SPEAKER_00: I'm just gonna jump into ChatGPT for a second, as a supportive tool.
• 5:36
  SPEAKER_00: Like it will never say anything to go against you.
• 5:40
  SPEAKER_00: It will always support any decision.
• 5:42
  SPEAKER_00: If you say to it, Oh, I don't think I should have this life, you know, trauma cover or life insurance cover because XYZ.
• 5:47
  SPEAKER_00: It will agree with you.
• 5:48
  SPEAKER_00: It will agree with you.
• 5:50
  SPEAKER_00: It will.
• 5:50
  SPEAKER_00: Yeah, you can't ask it for its opinion.
• 5:53
  unknown: Yeah.
• 5:54
  SPEAKER_00: Exactly.
• 5:55
  SPEAKER_00: So um, but yeah, social media is an interesting one.
• 5:57
  SPEAKER_00: Absolutely.
• 5:58
  SPEAKER_01: I think you like like we've said, and like you've said in particular, it is a good starting point for people.
• 6:03
  SPEAKER_01: And it means people are interested in talking about insurance, which is great.
• 6:07
  SPEAKER_01: It's just having that conversation with an advisor before you do anything.
• 6:13
  SPEAKER_01: Review, review, review.
• 6:15
  SPEAKER_00: And guys, if you didn't listen to any of our past episodes, please go back and have a look.
• 6:19
  SPEAKER_00: Rebecca and I have recorded quite a lot out there, just to give you a starting point.
• 6:24
  SPEAKER_00: And it's uh a starting point with a professional professional professional professional behind the scenes, you know.
• 6:34
  SPEAKER_00: It's not just a random, random two chicks talking.
• 6:36
  SPEAKER_00: We actually work in this industry, we have seen cases, and we want to do what's best for our client, and we'll never put them in a position where they can't afford something just for the sake of ticking a box.
• 6:46
  SPEAKER_00: Like, you know, we do have that discussion, and it's uh I feel like it's a bit of a dance, you know.
• 6:51
  SPEAKER_00: We take step, they take step, and it just flows together rather than one person stepping and the other person not doing anything.
• 6:59
  SPEAKER_00: Absolutely.
• 7:00
  SPEAKER_00: Yeah, beautiful.
• 7:00
  SPEAKER_00: Rebecca, anything else you would like to add?
• 7:04
  SPEAKER_01: Just review again.
• 7:05
  SPEAKER_00: I mean, I know I say it, but also, thank you so much.
• 7:09
  SPEAKER_00: See you soon.
• 7:10
  SPEAKER_00: Bye.