Self-Employed Professionals Demand Fairer State Treatment
Translated & summarized from Israel Hayom by baba
Self-employed professionals in Israel feel exploited by the state and are demanding greater representation in policy decisions regarding taxation and regulation. Speakers at a conference in Eilat highlighted concerns over increased fees without commensurate benefits and called for regulatory reforms. The role of artificial intelligence in the insurance sector was also discussed, with a consensus that it will augment rather than replace human agents.
The story in 5 lines · by baba
- Self-employed professionals feel like an "ATM" and demand fairer state treatment.
- Insurance agents seek representation on the Capital Markets Authority's advisory committee.
- LAHAV criticizes increased self-employed insurance fees without added benefits like sick pay.
- Tax changes affecting "wallet companies" are expected to cause significant disruption in 2025.
- AI is seen as a tool to assist, not replace, insurance agents in client support.
Self-employed professionals in Israel feel like an "ATM" and are demanding a fairer relationship with the state, according to speakers at the annual Insurance Agents Association conference in Eilat. Miki Koppel, CEO of Koppel Group, initiated a discussion on the disparity between the contributions of business owners to the economy and the weight given to their positions on taxation, rights, and regulation.
Moshik Ben Porat, President of the Insurance Agents Association, called for the reinstatement of agent representatives to the Capital Markets Authority's advisory committee, from which they have been absent since 2017. He emphasized that agents, who interact directly with policyholders, understand their needs and should be involved in shaping regulations. Ben Porat also urged better coordination among supervisory bodies due to the expansion of agents' activities into investment and credit sectors.
Roni Cohen, President of LAHAV, described small and medium-sized businesses as a "cash cow" and criticized the increase in national insurance fees for the self-employed without corresponding benefits like unemployment or sick pay. He proposed that for every new regulation imposed, ten existing ones should be canceled, viewing SMEs as a growth engine for the economy.
Gitit Shlomi, Acting President of the Tax Consultants Association, warned that tax changes affecting "wallet companies" and accumulated profits would impact 2025 reports, causing significant disruption. She also advocated for merging pension operations and marketing to reduce costs and simplify services for employers.
Devir Raf, an insurance agent and Vice President of LAHAV, urged regulators to focus on market failures and utilize the on-the-ground information provided by agents, whom he described as the "eyes and ears" of the authorities. He shared personal anecdotes of assisting policyholders in crisis situations.
The panel also addressed the impact of artificial intelligence on insurance agents. While some acknowledged AI's potential to save time on administrative tasks and enhance digital services, speakers like Koppel stressed that AI would never replace the personal, crucial support agents provide to clients during times of need.