Josh Daniell

And I don't think there's one general right answer.

I would be alarmed if New Zealand went in and wanted to strongly regulate how AI is used, because I think we don't know enough yet to make those calls.

Yeah, it is a really good question.

And from a pure economics perspective, that should flow through to better deals for the consumer, right?

Yeah.

I think equilibriums have a habit of being quite sticky and it requires some competitive forces to bust them and reshape them in a way that's fit for the new landscape.

So my prediction would be you won't see this gradual trickle through of the economics to the consumer.

It will be more like the landscape stays as it is until a competitor comes and shows a new way and everyone has to react to that competitive force.

So in one of the segments that you mentioned with insurance, where sales are generally intermediated, then the cost of that should go down, rapidly down.

And if there is a new product provider, a new insurer that is happy to work with that direct model, then they can live on lower margins.

So if they're pushing for larger market share, they're going to be more competitively priced

And that will force the incumbents to react rather than the fact that the broker isn't there anymore.

Because the incumbents are inclined to just take that extra margin while it's there, right?

Of course.

And it's going to require a competitor to come and force the issue.

One of the things that I'm really excited about there is the ability for agents to work tirelessly day in, day out on behalf of their human.

That's right.

Every day they are just trying to optimize your finances.

So

I'm a bit of a financial nerd and I find it unsettling when the financial product that I'm using is not the best one on the market.