Four predictions about the insurance business in 2031

“The cloud will be the most influential technology.”

Insurers are already beginning to maximize this digital storage tool because it can be economical, scalable, flexible and secure.
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“An automation rate of 70% is achievable.”

Technologists continue to be drivers of change in the insurance world.
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“Reporting and policy administration will be broadly automated.”

Digital natives have come to demand the speed and agility provided by automated services.
(Photo: Funtap/Adobe Stock)

There will still be a market for traditional and modular insurance products.

Longtime insurance professionals continue to report that many clients, while wanting more convenience and ease of doing business, will not make a major financial decision without some level of human contact.
(Photo: LongQuattro/Shutterstock)

When the international business advisory and software specialist Sollers Consulting first opened its doors 20 years ago, most people still purchased music on albums and CDs from a brick-and-mortar music

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