In 1949, the magazine Popular Mechanics predicted what computers may look like in the future. “…Computers in the future may have only 1000 vacuum tubes and perhaps weigh only 1½ tons.”
It’s easy to scoff at predictions that fall so wildly from the mark, especially when you consider that the phone in your pocket contains 100,000 times the processing power of the computer that landed Apollo 11 on the moon.
The crucial piece of context missing here is the transistor and microchip had not yet been invented. Both would be instrumental in reducing the size and increasing the performance of computers, and the rest, as they say, is history.
But what of insurance? What advances in technology may shape the sector in the future and what does the broker of the future look like?
In this blog, BIBA’s CEO Steve White outline some enablers and trends that can be both threats and opportunities for the broking community.