Insurance 4.0

The 4th Industrial Revolution – what does this mean for insurance? A phrase we see sneaking into our industry is “Insurance 4.0”. Everyone has their own take on what this means. I thought a quick look back on history to revisit the 3 prior industrial revolutions compared to significant “inventions” that impacted insurance might be helpful.

Yes, Insurance 4.0 is technology driven, but what are we going to do with that? This is the most important question. I see collaboration between value chain participants for the benefit of our customers as presenting the biggest opportunity. Using automated platforms, networks and the internet to collaborate in real-time will absolutely have an impact on our industry in a profound way. We want to be a part of that.