Question:

Is it possible to insert or delete fields in the Person Account Compact Layouts?

Answer:

Yes, this is possible. A new compact layout will need to be created and then associated with the record type. The following steps can be used to create a new compact layout record:

1. Log into the org as an administrator.
2. Navigate to Setup --> Build --> Customize --> Accounts --> Person Accounts --> Compact Layouts.
3. Click New.
4. Populate the Label and Name fields.
5. Move the required fields from the Available Fields picklist to the Selected Fields picklist.
6. Click Save.
7. Navigate to Setup --> Build --> Customize --> Accounts --> Person Accounts --> Compact Layouts.
8. Click the Compact Layout Assignment button.
9. Click the Edit Assignment button.
10. Select the Compact Layout that needs to be updated.
11. Use the Compact Layout to Use picklist to select the Compact Layout that should be used.
12. Click Save.

Note: In Lightning Experience, the first six fields that are added to a compact layout appear in an object's record highlights panel and in the expanded lookup card that is seen while hovering over a link in record details. The first field displays at the top in bold.

Related Documentation:

CRM Help Documentation: N/A 

SFDC Help Documentation: Compact Layouts