We don’t know who Brandon White is, where he resides, or what his relationship is with RODIK, Inc. Some of the documents he cites claim that he is based in Japan, while the business information for Graceware, SL points to a fake address in Andorra.
The warning comes on the heels of a volatile period for insurance broker and agent stocks. On Feb. 9, the subsector plunged 9% following news that two digital insurance companies—U.S. auto comparative rater Insurify and Spanish homeowners insurer Tuio—had launched chatbot assistants utilizing ChatGPT technology. However, over the next three weeks, insurance distribution stocks rallied 7%, outpacing a broader S&P 500 decline of 1%. The marketplace appeared to digest the AI threat and decided it was not a material risk to revenue growth, adopting a broadly optimistic “nothing to fear” and “far away” sentiment.
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