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It's true that everyone needs insurance, but that doesn't insulate the industry from layoffs. Companies tend to be obsessed with cost cutting, and there's always talk of rebalancing or efficiency initiatives or whatever someone wants to call it. Some areas of a company may be safe and other areas may get caught up in layoffs.

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So true which people do not realize is that normally every couple of months every industry goes through a recessionary period as is the natural course of business although this economy and that causing the Great Recession are not normal.

I wouldn't say it's not going to be an issue. It might be less of an issue than other industries, but we're not safe. Nobody is really safe these days.

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I am sorry to say that in years past the consumable industry used to be safe as everyone needs toilet paper, toothpaste, deodorant, personal care products, and foods although with our current political climate no industry is immune to layoffs and business closure.
The only industry safe are those in the millionaire / billionaire club.

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True..everybody needs insurance. But the world is small and very connected. Jobs will continue to be outsourced to India/Philippines etc. Blue Cross/Blue shield is largely India staffed and bots are being trained and built to do the work. It is no longer the stable job it was in its former life. Good luck maintaining a position in this field.

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AI is going to cause layoffs in insurance. We are on a hiring freeze now so they won't have to lay anyone off after fully implementing it.

Our AI is taking recorded statements setting up repairs and even rental I believe. It isn't handling injuries but it is even taking some coverage investigation statements for the adjuster to review. The goal from what I understand is AI handling about 50% of each claim

Liberty Mutual has been laying off groups of employees for the past couple of years on a regular basis

Layoffs in insurance are coming. Yes the need is there, but so is AI.

The reason for the Great Recession was a combination of 9/11 and ALL the industries going through a recession at the same time.
Every industry goes through a period of inflation and recession every couple year as it is part of the business cycle.
it is unfortunate that many had not recovered from the Great Recession and COVID before this latest bad global economy and job market.

Lay offs are emerging across almost all industries. Folks need to stay vigilant. The idea that you are valuable or even irreplaceable to an employer are long since gone. In Nov Amazon laid off 1/4 of its Workers Compensation team, by sending them text messages in the wee hours of the morning. Immediately locking them out of their company laptops directing them to check their personal emails for details. Completely blindside, many were long term employees,

That's just so wrong on so many levels.

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