Avelo has added its weight to those predicting protection sales will grow with IFAs increasing focus to it after the Retail Distribution Review (RDR) is introduced.
However the technology services business, formerly known as 1st Exchange, believes providers will need "a fundamental shift" in the design and distribution of these products.
This includes the need to produce new "agile" systems to take advantage of the market growth.
Paul Yates, strategy and business development director at Avelo, felt recent speculation on the future of the protection market could not have come at a better time.
"RDR is likely to generate increased attention on the protection market," he said.
"Indeed, the overwhelming response from our provider clients (80%) is that protection sales will increase post-RDR as advisers move greater focus towards it as an additional revenue stream.
"But capitalising on this change and driving longer term growth in the market will require a fundamental shift in the way protection products are designed and distributed," he added.
Yates noted that this would require significant investment in new technology from insurers.
"For this to be done successfully, today's legacy systems will have to make way for agile, tailored solutions to optimise the advice and purchase processes," he continued.
"Gone are the days when complex forms and processes are acceptable. The new era of streamlined processes requires end to end simplicity to best meet the needs of an evolving client base.
"Technology has a crucial role to play as a potent strategic enabler in kick-starting this industry regeneration."
