Technology can play a vital role in enhancing processes across the value chain. Through technology improvements, insurers benefit from increased scale and efficiency, and clients experience more affordable products and better service. For example, satellites allow insurers to assess the extent of natural catastrophes without the need to inspect individual farms; and mobile phones allow insurers to reach the most remote clients. Smart cards and biometrics allow easier identification, while improved transaction and data processing improve efficiency and product design.

The choice of technology should be based on how it can achieve partners’ objectives, the degree of market maturity and readiness for the technology, and customer understanding. Introduction of technology has to be accompanied by a change in business processes. Ultimately, the success of technology depends on human factors. When technology and process improvements go hand-in-hand, they offer the best results.