The perception that the insurance industry does not embrace or utilize technology as efficiently as it could is simply not true, says Craig Beattie, senior analyst for UK-based research company Celent. If anything, the insurance industry is actively studying and implementing new technology all the time to improve their product systems, find new ways to enhance the customer experience, and provide better coverage options to insureds.

Beattie analyzed and explained the factors that influence carrier product technology in a report he authored titled “Designing for Product Agility: Where Should Insurers’ Products Live?” In this Q&A, Beattie discusses current technology trends in insurance product development and how agents and brokers can benefit from understanding this process.