The innovative use of new technology can increase profitable business for brokers and insurance companies according to Manjit Rana, director of general insurance solutions for Focus Business Solutions.
Rana said that new technology can increase market share and long term revenues.
It can also reduce loss-making business, he said, although much of the leading edge of technological solutions has, so far, not been fully exploited.
Rana emphasised the use of mobile phones, PDAs and digital equipment as a driving force in the distribution and processing of insurance products and encouraged figures in the industry to "think outside the box".
"Some of it becomes obvious when you present technology opportunities to insurers and brokers," he said.
"It is that just they have to become aware of the array of uses through technology."
