Future technology competition

To tie in with Agencyport's latest campaign to celebrate the role technology has played in the industry throughout the ages, Post is offering readers the chance to win a one-off piece of signed original artwork and an iPad2.

The centrepiece of the campaign in an infographic which represents the many eras of change and evolution in the insurance industry's relationship with technology as interpreted by an artist in London.

But, Agencyport has left the end of the graphic open - which is where you, the Post reader comes in.

Agencyport would like your thoughts on what will be the next significant technology to change our industry globally, explaining why you think it could be a game changer.

This could be the impact of community and social networks on policy provision and pricing - the Groupon effect; mobile health monitoring; or vehicle telematics.

Alternatively, you could make your own prediction. Whatever your idea, you need to make it snappy as the maximum word count is 100, although you don't have to use them all.

Once you have decided on your answer, email it to Post editor Lynn Rouse, clearly marked ‘Agencyport competition.' The closing date for entries is Friday 30 December, after which Agencyport and Lynn will decide on a winner, based on the entrant who demonstrates the most imagination and foresight. There is a strict one entry per person rule, and for full terms and conditions, please see www.incisivemedia.com/static/competition-terms-conditions

Insurance & Technology - The journey to date

The Paper Period... and formation of the early insurance industry
In the 17th century, ships would trade and transfer paper-based policies. Benjamin Franklin brought insurance to the US in the 1750s, this coupled with the creation of the Lloyd's Act of 1911 are the foundations for the insurance industry we know today.

The Binary Computing era
Originally huge industrial machines and mainframe systems churned out processes, capturing and storing data. But even then in the 1970s, paper still remained a trusted and recognised way to manage transactions. During this period, and possibility associated with the birth of technology, standardisation began with the creation of ACORD. Finally as technology evolved, the mainframe machines became faster, more agile and physically smaller and processing power was distributed to the desktop - the modern PC as we know today.

The age of the internet
In 2000, the web began to change the game for insurance distribution, research ad information gathering.

Agency and broker portals and selling on the web became the trend. The internet spawned the age of the consumer powered aggregation hub and comparative quotation sites we have all become so familiar with.

While within the industry portals such as iMarket and Lexis Nexis began the drive to share platforms to ease the flow of information and transactions within the insurance arena.

Cloud and access anywhere today and beyond
The age of software as a service and cloud computing are the enablers of change today. Ironically, their function is similar to that of a mainframe, where all the key data is cerntrally stored and disseminated as needed. The realities are vastly different as speed, agility, security and data now being a competitive driver for most forward looking in the industry. The age of accessing information anywhere is upon us, from laptops to mobile phones and tablet computers the mobile age is changing everything again.

The future
You decide...