Tech Trend Radar 2018 – Technology drives future business opportunities
Technology is an important driver of future business. Those who make use of the opportunities offered by new technologies gain competitive advantages through innovation and productivity. The earlier the potentials of trends for one’s own business model are recognised, the better they can be implemented. Munich Re analyses top technology trends for insurance companies in the Tech Trend Radar.
Future technologies open up a galaxy of new possibilities. The adaptation of artificial intelligence, machine learning or smart data massively and continuously changes not only products but business models and even markets. Customers want to use the advantages of technology experienced in all areas of life – including in the financial sector. Greater customisation, transparency, simplicity and cost-efficiency – that is what customers want. Insurance companies are tasked with the speedy identification of relevant trends and their purposeful adaptation for the continuous reorientation of their products and services. This represents a major challenge given the unbridled development of technology trends.
Thanks to its qualified overview and clear assessment of the most important technological trends, the Tech Trend Radar can assist insurance companies in their strategic decisions regarding the integration of new technologies. For the first time, Munich Re showcases in the Radar its own solutions and products whose innovation stems from the adaptation of tech trends.
The online version provides a synopsis of the latest technology inventions in the following four trend fields: User Centricity, Connected World, Artificial Intelligence and Disruptive Technologies (each field can be activated by clicking on the segment). The trends’ descriptions and opportunities are listed in the graphic (can be activated by clicking on the trend name). Assessments of the concentrically listed maturity levels provide an overview of current relevance (activated by clicking on the Hold / Assess / Trial / Adopt field). By way of example, the Solutions field of the online version presents a dozen or more innovative, technology-based solutions by Munich Re.
The Tech Trend Radar 2018 report (download) describes the individual technological trends in detail. It shows their applicability across the entire value chain and discusses the opportunities and risks of the developments. In the Radar, Munich Re also provides a recommendation for action for each trend from the perspective of an insurance provider.
For more information about the Tech Trend Radar 2018, please contact your responsible Client Manager or our IT experts.