Simple steps to save time and leverage AI

In recent research conducted by Risk Hub, we found that the majority of advisers aren’t yet using AI in their business, but the majority plan to. Often, it’s being unsure how to start that’s the hurdle. To help cut through the noise, we’ll use a realistic example to show how you might use these tools effectively.

We’ll demonstrate this by developing a story around the risk advice process, which might be used in client materials or on your website. The goal isn’t to suggest you use all these platforms but to provide you with some ideas and perspectives on making a start with using them.

Key points we’ll cover:

1. Grabbing an example to use – in this case, articulating the risk advice process for clients.
2. Looking at the basics – starting with a rough outline.
3. Using different AI tools to enhance and refine the content.
4. Bringing these outputs together for a better-constructed and formatted end result.
5. Modifying or leveraging this content for various uses – client communication, website content or referral sources.

We’ll work through the use of a few tools, which can help contrast and compare the differences. For demonstration purposes, we’ve used paid versions of these tools (ChatGPT Plus, Anthropic Claude Pro, and Perplexity.ai Pro). Free versions are available, but they generally offer fewer features and capabilities, and their options for information protection are also lacking.

Step-by-step example: Crafting your advice process story

Step 1: Grabbing an example

For this demonstration, we’ll start with a basic outline of the advice process. The scenario here is about crafting a simple overview of the process to use with clients, to help them understand the process you’ll (as an adviser) be walking them through. You could start this process with AI assistance, but I suggest starting with a simple brain dump of your own thoughts – as notes, steps, or current promotional material you have on hand (which you have rights to use).

Step 2: Looking at the basics

We’ll jot down this rough idea, giving us a foundation to build on. This simple outline helps us identify the key steps in our process. The details below are a quick summary of the primary steps (my own brain dump). Your approach may very well differ – but as noted, this is simply for demonstration purposes:

• Contact: This is where we gather some basic information from you to get started.
• First meeting: We discuss your goals and needs to understand your situation better.
• Research: We take the time to work through what’s needed, explore the options, identify potential hurdles based on your situation, and evaluate product options.
• Your advice: We present you with a detailed summary of options and our recommendation tailored to your needs.
• Implementation: We assist with submitting the necessary paperwork to the insurers.
• Underwriting: There is still some work to do at this stage. We work to ensure you get the best terms of cover.
• Policy issue and servicing: Once everything is in place, we begin the servicing process. We work with you to handle any changes needed in the future and are here to assist if a claim arises.

Step 3: Enhancing with AI tools

ChatGPT: Testing the Output

We’ll use ChatGPT (model 4o in this example) to turn this outline – well, actually, only the key headings – into a more polished, client-friendly guide.

AI Prompt: “I need help to create a client-friendly guide for our financial advice process and, more specifically, Risk Insurance advice. Here’s a rough outline as a starting point: Initial contact, first meeting, research, your advice, implementation, underwriting, policy issue, and servicing. Please expand on each step to make it engaging and easy to understand for clients.”

Below is a little of the output that comes from this prompt:

“Your Journey to Financial Security: Understanding Our Risk Insurance Advice Process

Welcome! We’re excited to guide you through our comprehensive risk insurance advice process. Our goal is to ensure you feel confident and secure in your financial future. Here’s what you can expect every step of the way:

• Initial contact engaging conversation

Your journey begins with a friendly chat. This is our chance to get to know you, understand your needs, and answer any initial questions you might have. We’ll briefly discuss your financial goals and set up a convenient time for our first detailed meeting.

What you can do:

Think about your financial objectives and any specific concerns you have about your current insurance coverage.

• First meeting getting to know you

In our first meeting, we’ll dive deeper into your financial situation, personal circumstances, and future goals. This helps us tailor our advice to suit your unique needs. We’ll discuss your current insurance policies, income, debts, family obligations, and lifestyle.

What you can do:

Bring along any relevant documents such as current insurance policies, recent financial statements, and identification.”

Comments: This demonstrates how ChatGPT can help build out the content for you, turning simple outlines into polished, client-friendly guides.

You’ll note the descriptions aren’t necessarily exactly what we want for each step, so let’s keep going.

Anthropic Claude

Next, we’ll take a look at the output from Anthropic Claude using their Sonnet 3.5 model (using exactly the same prompt as with ChatGPT)

Below is a little of the output that comes from this prompt:

“Your Journey to Financial Protection: Our Risk Insurance Advice Process

• Initial contact

We begin with a friendly conversation to understand your needs and goals. This is your opportunity to ask questions and learn how we can help protect your financial future. We’ll schedule a convenient time for our first meeting.

• First meeting: Getting to know you

In this relaxed, face-to-face session, we’ll dive deeper into your current situation, financial objectives, and any concerns you may have. We’ll explain how risk insurance works and explore options that might suit your needs. This meeting is all about listening to you and establishing a strong foundation for our advice.”

Comments: The output from Claude provides a different style but is highly useful, offering another perspective on how to present content in an engaging and informative way.

Perplexity:

Lastly, we’ll examine the output from Perplexity. This tool isn’t necessarily the best for this particular demonstration, but it does provide some useful additional resources and help on many topics. This output (based on the same prompt once again) is using the Pro version:

Below is a little of the output that comes from this prompt:

“Your Journey to Financial Security: Our Risk Insurance Advice Process

We’re committed to guiding you through a clear and transparent financial advice process. Here’s what you can expect as we work together to protect your financial future:

• Initial contact

Your journey begins with a simple conversation. We’ll briefly discuss your situation and goals to ensure we’re the right fit for your needs. This is your opportunity to ask questions and get to know us better.

• Discovery meeting

In our first face-to-face meeting, we’ll dive deeper into understanding your unique circumstances, financial goals, and attitudes towards risk. We’ll explore questions like:

• What are your most important financial priorities?
• What keeps you up at night regarding your finances?
• How would your family cope financially if something unexpected happened to you?

This meeting is all about listening to you and gathering the information we need to provide tailored advice.”

And Perplexity also (at the tail end of the process steps) provided this content:

“Our Commitment to You

Throughout this process, we promise to:

• Communicate clearly, avoiding confusing jargon
• Be transparent about costs and potential risks
• Prioritise your best interests in all recommendations
• Be available to answer your questions at any time

Remember, our goal is to give you peace of mind, knowing that you and your loved ones are protected against life’s uncertainties. We’re here to guide you every step of the way.”

Comments: Perplexity’s output provides a further layer of content from a different perspective, helping to refine and adjust your messages. This additional detail can be very useful in crafting comprehensive and client-friendly materials.

Step 4: Bringing it all together

As you see from the above examples, the quality, appropriate context, and style of output can differ dramatically between the various tools. This is impacted by a number of factors, such as the quality and detail in the prompt, as well as training on the model itself. “Pro” versions of the tools will generally provide improved results.

• ChatGPT: A good all-round tool, dramatically improved with efforts to help it learn (pre-training).
• Anthropic Claude: Great off the bat with limited training, generally does a better job at tone and style of writing.
• Perplexity: Best for pure research and factual inputs.

None of these tools are targeted for pure “writing”, but they each can be highly useful for written content regardless. And if you’re keen to minimise the use of too many apps and platforms, they might just do the job OK. Depending on your purposes and willingness to venture into using varying tools, consolidating content from multiple tools can be quite valuable.

Step 5: Modifying or leveraging the content

Now, let’s take a quick look at how you might modify this content for different purposes or audiences:

• For client communication: “Provide a lead-in paragraph to be used just prior to the table or graphic.”
• For website content: “I need a paragraph to provide a very short overview of the process, which encourages the viewer to click through for more information and detail on the Risk advice process, for use on my website.”
• For referral sources: “I need a version of the lead-in for use with referral sources, helping them understand the detailed but helpful process a client of theirs will be taken through (by our practice), which will be followed by the detailed process table or graphic.”

Try these with your own content to form your own views on what works best for your own needs.

Conclusion

By using these AI tools, you can efficiently create polished, professional content tailored to various audiences. Starting with a simple outline and refining it through strategic AI applications not only saves time but also enhances the quality and clarity of your communications. These tools are designed to assist and amplify your work, making your efforts more efficient and impactful. And now that you have this content that’s easy to modify, the creation of graphics or flowcharts for marketing materials is far simpler.

While these examples demonstrate the potential of multiple platforms, you don’t need to use them all. Instead, use this guide to understand how different tools can be leveraged based on your specific needs.

Marc Fabris is the founder of Risk Hub.