Commercial insurers must embrace technology
Tuesday, 06 12 2018, Category: Technology, Country: World
The commercial insurance sector must adapt to the fourth industrial revolution if it is to remain relevant in five to ten years' time, said Airmic CEO John Ludlow.
Speaking at Airmic's annual conference in Liverpool - this year titled 'the Future is Now' - Ludlow suggested that rapidly changing business models and the advent of cyber-technology are creating completely new risk landscapes and, at the same time, creating unprecedented opportunities and challenges for both insurers and risk managers.
The fourth industrial revolution is defined by technologies such as robotics, AI, blockchain, Internet of Things, and autonomous vehicles.
Source: Intelligent Insurer