20181101 Insurance vs Estate Agency, Part 1

20181101 (Thu)

What is the difference between an insurance agent and an estate agent? Part 1.

In buying insurance, you usually go through an insurance agent. There are many complex jargon about insurance and its claim. At time of purchase, most of these services and protection of insurance will be explained to the buyer. Similarly, it is the job of an estate agent to explain to the buyer or tenant the various aspects of the property and the processes of acquisition and disposal or letting and tenancy.

However, is estate agent’s role the same as an insurance agent? Or put it in another dimension, if insurance can do away with an insurance agent, can property do away with an estate agent?

This is quite possible in the near future as everything is online. You can purchase insurance directly from the insurance company online. Reports of medical checks can be arranged online from the medical centres. So, indeed there is no purpose of an insurance agent who does the running around or handling of documents anymore.

Similar scenario had been given in earlier posts about a online password locking system and CCTV to enable remote monitor of property, without having to rely on the presence of estate agents.

Would then agents like insurance agents and property agents be redundant?

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