If there is one word on the lips of everyone in the insuranceindustry today it is “mobile.” Rarely have we seen an issue jump tosuch prominence in such a short period of time.

While the industry still is a long way from comprehending thefull value of mobile technology, carriers already are starting topursue the possibilities at a frenetic pace.

At the ACORD LOMA conference held recently in San Diego, Iattended a press conference with 18 separate insurance-solutionproviders—and six of them used the M word before addressinganything else.

Smartphones and tablet devices are not just fun accessories forconsumers; they are tools for transacting business. Just imaginebeing able to attach a credit-card reader to your smart phone toclose sales and collect premiums simultaneously. The advancesmobile technology can bring to the industry are limited only by ourimaginations.

The second major area of discussion at ACORD LOMA was socialmedia. This may cause some veteran insurance people to shake theirheads—but if they want to remain a relevant part of the industryover the next few years, they not only need to understand thecapabilities of social media, but to embrace it as well.

Not everyone needs to tweet news about themselves or postpictures of the kids on Facebook, but business people betterrecognize that their customers and vendors are doing just that. Oh,and by the way, they may be posting some information about theirinsurance needs or concerns—maybe even about your company oragency.

Communication is changing, and it is essential that we realizethe ramifications of that change. Neighbors don't gossip over thebackyard fence anymore. They spread the word to hundreds or eventhousands of friends electronically. Social media and mobiletechnology are simply the two industry efforts that needto be at the top of any business to-do list in 2011.

Three other tech trends that will—and must—receive plenty ofattention this year:

• Core solutions: Replacing legacy solutions in bothpolicy administration and claims continues to be a major worry forthose who haven't had the courage or the financing to proceed, andthey are competitive advantages for those who were lucky enough toget these issues started. The world is turning on a dime, andbusinesses that don't have the flexibility or agility to turn withit are going to be left behind.

• Analytics and business intelligence: Being smarterthan your competition doesn't always guarantee victory, but as theold saying goes, that's where you should probably place your bets.Data projects are scary and time consuming, but why have youbothered collecting all that data if you don't know what to do withit?

• Real-time download: Whatever you want to focuson—straight-through processing, SEMCI—you are almost certain tomake your independent agents happy. And happy agents are productiveagents. There is plenty more discussion concerning real time forcommercial lines as well.