Emerging Technologies: Reshaping the Next-Gen Insurer

An SMA Research Report

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Author(s):

Denise Garth, Partner

Publication Date:

October 14, 2014

Number of Pages:

30

Price:

$1,495.00 USD

Current technologies, along with the growing proliferation of emerging technologies, are now considered some of the greatest agents of change since the introduction of the Internet. They promise innovative, game-changing breakthroughs that will challenge long-held business assumptions and shift the boundaries between business and industry – creating completely new businesses and industries. SMA is actively tracking nine emerging technologies: 3D Printing, the Internet of Things (IoT), Drones/Aerial Imagery, Driverless Vehicles, Wearable Devices, Gamification, Artificial Intelligence, Semantic Technologies, and Biotechnology, both from within and “outside-the-industry” to gain a contrasting view. 

This new research report provides unique insight into these emerging technologies’ adoptions, investment plans, and opportunities for business areas, as well as the greatest risk and potential for disrupting or transforming insurance. Five of the nine technologies are projected to arrive at or go well beyond the tipping point within three years. Even more impressive is that all nine are projected to surpass the tipping point in five years.

Insurers that have not even begun to assess, strategize, or pilot these technologies are already lagging behind. And they will struggle to keep up with the accelerating pace of adoption, not just against today’s and tomorrow’s competitors but also for their customers’ loyalty as well.

Emerging Technologies: Reshaping the Next-Gen Insurer answers the following questions:

• What will the pace of adoption be for each of these technologies over the next 3, 5, 7, and 10 years?
• What are the levels of investment in these technologies?
• What areas of insurance have the greatest potential for disruption and transformation?
• How do insurers’ views compare to leaders outside the industry? What are the implications of these differences?
• What are examples of adoption that are reshaping businesses?
• How should insurers respond?

 

 

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