Insurance is an information business that relies on three broad categories of IT capabilities: communication, storage and management, and analysis. Recent advances in IT have changed the game in all three areas, requiring insurers to change their conceptions of what's possible in managing their businesses.

Perhaps the most visible of these changes has been in communications technology. In the last 20 years, we've gone from a world dominated by paper (including fax) and voice communications that were tied to physical locations (i.e., the phone on the wall or on the desk) to one where billions of electronic text messages and images are sent and received every day and many of these (not to mention voice communications) originate on mobile devices.

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