The development of society in terms of continuous technological advancement and innovation creation has influenced the insurance industry. Due to many industry specificities, the process of implementing innovation in the insurance industry is somewhat slower than other industries, but insurance companies are moving away from traditional sales channels. This paper deals with the concepts of technology, innovation and insurance itself, and explores in more detail the main determinants of insurance sales as a key revenue generator in insurance companies. It also examines the changes that technological advancement has brought to the insurance industry so far, as well as the possibilities of developing and using new modern technologies for the purpose of developing sales, gaining and increasing competitive advantage. Although challenging for insurance companies, the opportunities that new technologies such as the cloud, the Internet of Things, blockchain, artificial intelligence, smart contracts, telematics or drones bring are numerous. Their development has enabled the creation of new products, services and business models, as well as the opening of new insurance sales channels that can function as completely independent or autonomous channels. The process of gathering the necessary information has been facilitated, the quality and quantity of insurance policy making and the possibility of dealing with damages have been improved. New technologies also open up the possibility of creating personalized customer relationships, as well as personalized products and offers that are tailored to the individual user. All of these advantages, which the use of modern technologies enables, contribute to the development of sales function in insurance companies and to competitive advantage in the market. Also, new technologies provide significant savings in the time and resources needed to invest in the sales process, which contributes to the optimization of the sales function in insurance companies.