Continuous development of advanced technology is changing the way we live and work. The establishment of digital ecosystems enables organisations to push forward the digital transformation, while virtual assistants allow users to focus on high-impact work.
In 2020, the coronavirus pandemic has shifted our demand for technology application overnight. Technology such as location-based services is in place to obtain an accurate picture of the effectiveness of distancing measure. How will the pandemic push the development of emerging trends such as digital identity and white biotech even further?
Now more than ever, technology is not only a competitive advantage but also an actual necessity to keep businesses running. The awareness for digitalisation is on the rise on a large scale. This is precisely where the Tech Trend Radar 2020 comes into play. The sixth edition aims to provide information about the technology-driven trends in 2020 that are particularly relevant to the global insurance sector. A collaborative initiative by Munich Re and ERGO, the annual Tech Trend Radar aims to sharpen awareness of key trends and evoke a conversation about their relevance along the insurance value chain.
The structure of the trend report
As you explore our online interactive radar, you will find that we have categorised emerging technology trends into four fields:
- User Centricity
- Connected World
- Artificial Intelligence
- Enabling Technologies
We also assess the maturity of each trend:
- Hold: Add it to your watch list
- Assess: Consider what it may mean for your business
- Trial: First initiatives should be underway in the most affected business areas
- Adopt: Start taking full advantage of this technology
In addition to exploring each of the 52 trends, you can also discover some of the innovative technology solutions Munich Re offers in each of the trend fields.
A downloadable report is available at the bottom of this page that gives you a deep-dive into the trends that we consider to be most mature and worth considering adopting in your business.
Technology is an important driver of future business. It’s our hope that the Tech Trend Radar will serve as a valuable tool as you assess how emerging technological developments may impact your organisation.