To a degree, insurance is already tailor made for the individual. For example, household cover will take into account your postcode, whether you are in a high-risk flood or subsidence area, how old your property is, whether it is used as a business or residential premises etc.
Insurers will offer discounts for householders who are in a Neighbourhood Watch area or fit security systems from an approved supplier, or take measures to prevent flooding.
And the motor insurance market also already charges a wide range of premiums, according to a well-established pattern of risks defined by age, car model, post code and the rest.
But could more be done? All the indications are that there will be a much wider range of policies and fine tuning of premiums in the future.
And it is technology - such as Norwich Union's PAYD black box and its flood map developed using technology which singles out homes prone to flooding with precision not seen before - that is helping to lead the way.
The new flood map identifies not only the exact position of each home and its height above sea level, but those in line for sharp increases in premiums and excess levels, and those which may deserve a cut in charges.
Many believe household cover won't just be about risk assessment in the future according to postcode, but that so-called geocoding of each and every property will play a bigger role - so the difference in sub--soil could mean a variation in premiums of around £100 perhaps, in neighbouring homes, with clay being the most vulnerable.
The drive for all insurers will be risk mapping. In the future householders will have to keep an eye on how different insurers view particular risks - and with the increase in flood defences these risks can, and will, change.
Computers have, without a doubt, changed the way we all lead our lives, and have had a huge impact in the financial sector, from internet-based banks to the plethora of firms that now offer easy and fast quotes on everything from insurance premiums to mortgages.
Graeme Trudgill, technical services manager for the British Insurance Brokers' Association (BIBA), says: "Insurance companies can now build in a lot of factors they couldn't before and things are becoming more tailor-made. And in the future, technology will also make insurance that bit faster and fairer."
Direct Travel recently launched a new, flexible, value-for-money backpacking insurance policy with cover starting from £23.56 for 90 days in Europe.
Specifically designed for travellers under the age of 37, it offers pay-as-you-go premiums so consumers can choose their initial period of long stay travel up to a maximum of 12 months.
