Challenge to Change: The Impact of Technology


There can be little doubt that accelerating systemic change is impacting the insurance industry’s wider operating environment. Whilst technology as a whole could be considered as one major contributing factor or amplifier of these trends, the emergence and proliferation of various technologies presents insurers with a wealth of options to reshape their business models and add value to their services.



“Challenge to change” is a 3 part white paper series that explores the future growth drivers of the global Insurance industry. Looking into the economy, regulatory landscape, technological innovation, business process and workforce and talent issues, and many other areas, the papers entitled “Embracing Change”, “The Impact of Technology” and “The Future of Insurance” examine the drivers, opportunities and challenges of an incredibly rich and evolving sector. The “Challenge to Change” series is for multiple insurance sectors - from Life to Property and Casualty, Large Commercial to Long Term Care - across multiple delivery channels and operations types. It is designed to be an important discussion tool to facilitate strategic thinking about how to create new business opportunities and respond to challenges positively.

This paper looks at “The Impact of Technology.” There can be little doubt that accelerating systemic change is impacting the insurance industry’s wider operating environment. Whilst technology as a whole could be considered as one major contributing factor or amplifier of these trends, the emergence and proliferation of various technologies presents insurers with a wealth of options to reshape their business models and add value to their services.

THE EVOLVING INTERNET  04
LOCAL IMPACTS OF TECHNOLOGY  05
EMERGING TECHNOLOGY  06
 SOCIAL  06
 EXPLODING MOBILE MARKETPLACE  07
 BIG DATA  08
 CLOUD AND BEYOND  09
 MODELLING AND ANALYTICS  09
 AWARENESS TECHNOLOGY  09
 NEW VIDEO  10
 APPS  10
 3D PRINTING 10
 DRIVERLESS CARS  11
 TELEMATICS  11
 GENOMICS  11
 GAMING DYNAMICS  12
 LOCATION INTELLIGENCE AND PERVASIVE CONNECTIVITY  12
 COMPUTATIONAL ANALYTICS AND DATA MINING  12
 HYPER-PERSONALISATION  12
 NEW TECHNOLOGIES DEMAND NEW MODELS  13
EVOLVING NATURE OF RISK: CONTOURS OF THE FUTURE  14
 FEWER UNDERWRITERS 14
 RISK POOLING V CROWDSOURCED SOLUTIONS  14
 ARTIFICIAL INTELLIGENCE  14
CRITICAL FUTURE SUCCESS FACTORS  15
KEY QUESTIONS 16
 IN OUR NEXT PAPER 16
 EQUINIX 17
 ACORD 17
 ABOUT GLOBAL FUTURES AND FORESIGHT  17

Other Content in the Insurance Series

Equinix & The Insurance Ecosystem
Trends In the Global Insurance Space
White Paper Challenge to Change: Embracing Change, The Economy, People ...
White Paper Challenge to Change: The Future of Insurance


Equinix, Inc. (Nasdaq: EQIX) operates a global interconnection platform of more than 200 International Business Exchange™ (IBX®) data centers in 52 markets in the Americas, EMEA, and Asia-Pacific. Our mission is to protect, connect and power the digital economy.
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