What technology upgrades does the insurance industry need?

It's impossible to ignore the profound ways in which technological innovation has permeated nearly every facet of our economy, especially as the pandemic forced businesses across every sector to adopt new tech as a means to stay operational. And yet there are vital aspects of business that have virtually stagnated despite the high-tech breakthroughs all around them. In insurance, it's easy to spot: the process for managing risk transfer still relies on technology better suited for the 20th Century. Every person involved in risk management, from brokers to carriers to in-house risk managers and insureds, is functioning in an environment that suggests the last two decades never happened. Their best technological options for managing insurance documents include spreadsheets, PDF files, and email--or worse, a fax machine.