© ChakisAtelier/iStock/Getty Images Plus
Digitalisation

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.

Future business opportunities driven by technology are part of the Tech Trend Radar 2018 by Munich Re.

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.

Further Information
Tech Trend Report 2018 (English)
PDF, 3.6 MB
Download
Munich Re Experts
Thomas Bonaty
Innovation Manager
Comments (4)
Write a comment
* required fields

Ralf Oestereich
This is an excellent overview which will help everyone to understand how to prioritize ressource for new technologies.

I'd appreciate if the authors could share their rationales why the assessed like they did (criteria, sources, etc.).

One question to the authors: Why is "Quantum Computing" rated as "do assess" and not "on hold". I think it is a fascinating topic but in Terms of resources I don't see the maturity and application (yet).
Chen
Thank you for sharing, quite inspiring way to present the bubbles of technologies and how they relate to the process flow. I guess exclusivity is not really important here as it is very difficult to clearly isolate one technology from the other, or put them in strict logical sequences. Important is the thought process how we could use them to improve our businesses and services.
Tarun
Great content overall. 😀
However, the trend radar framework is bit confusing. The four buckets are not mutually exclusive, adding to complexity.
Yvonne
It will be great if there are a assessment on new technology radar mapping with consumer product industry.
Print
This may interest you