You Heard Me Right...Robot Insurance
Updated: Jul 30, 2020
We have coverage for everything. Home, Auto, Life, Health. Those are the big ones that come to mind. But when I say Robot Insurance, it produces two reactions. The first is a strange look (which is fair) and the second is a snicker from those who reminisce about the Old Glory Insurance sketch starring Sam Waterson featured on SNL in one of their classic Ad Parodies airing in the 1990s.
The sketch featured Robots attacking senior citizens in their homes and while they did yard work as the Robots needed their medicine...you know, for fuel. The robots came in the form of what you might expect a Robot to look like if you asked a child to draw one for you. Slow moving with lots of buttons, metal frame, and claws for hands. Sam Waterson was encouraging the viewer to purchase Robot Insurance to protect themselves against the threat such attacks with a closing message simply stating: “Persons Denying the Existence of Robots May Be Robots Themselves.”
The Rise of Automation
While laughable back in 1995, the threat of Robots is a real concept today, just not in the same way SNL writer Adam McKay envisioned when writing the sketch. The real threat of Robots comes in the form of Automation, a concept that is growing at an exponential rate. And while this may not be a threat to your life, it will certainly be a threat to your livelihood. You may still be laughing, but the rise of the robots will come and no one’s job is safe. From entry level jobs all the way up to decent paying positions in the manufacturing sector, the leaders of Tomorrow’s Economy are finding ways to produce results without the bothersome need for real people who make mistakes, demand better benefits, and have personal lives that disrupt output.
Should we be implementing insurance that protects our jobs from the threat that exists from industries that are sure to learn to work without the presence of real people?
I’ve speculated that this widespread Government Shutdown has been a warm up for just that. Introducing small doses of stimulus payments that vaguely resemble what could possibly become Universal Basic Income for those out of the work force. Some will grow to accept the bare minimum wage in exchange for personal freedom. Getting by with less without the added stress of the daily grind has its benefits. Why continue to grind it out and hustle when most will never achieve that next level of success that comes with the hopes of the American Dream anyways? It’s coming and if I could predict, I’d say if there was money to be made off of providing insurance to protect your assets (like your job), then Insurance companies will find a way to capitalize on this fear.
"Persons Denying the Existence of Robots May Be Robots Themselves.'"
Do They See it Coming?
When I mentioned this to a friend of mine in the Insurance Industry, he got a good laugh out of it. That was just a year ago. Maybe they should be more open minded because even their jobs aren’t safe from Automation. It’s been predicted that 1 in 4 Insurance jobs will be replaced through the work of “Robots” by the year 2025. Even after providing that statistic, he didn’t seem too concerned. It was almost as if he was denying the existence of Robots all together...Wait a second...does that mean…?
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