When many of my peers and I entered the industry, several days or weeks could pass between the initial inquiry by a potential policyholder and the time a transaction took place. Applications were mailed, faxed and sometimes hand-delivered to the underwriter; exposure information was verified manually before being sent to the rating department; and quotes often required multiple sign-offs.

Thankfully, buying insurance today is far easier. Those with minimal or no claims history and straightforward risks can often become insured in less than 30 minutes online, including the time it takes to download and print or file their digital policy.