Vivek Wadwa has written an insightful piece detailing the 6 macro technology trends that reached their tipping point in 2015. All these are going to fundamentally change the way we live in the future. It's no co-incidence that they are also the technologies that will have the greatest effect on the future of insurance too.
The Internet of Things and Drones will provide transformative risk management capability, near perfect technical risk pricing and UBI in the non-life world.
For the life and health insurance industry, IoT and Genetic profiling/modification will combine with generally better health/life expectancy to have a similar effect on pricing, product and distribution.
And so to Bitcoin, this too will one day change insurance as we know it, but in my view it's still a bit early to say how. Perhaps that's what we'll all be writing about when we review 2016 and look forward to 2017?
To the average person, it may seem that the biggest technology advances of 2015 were the larger smartphone screens and small app updates. But a lot more happened than that. A broad range of technologies reached a tipping point, from cool science projects or objects of convenience for the rich, to inventions that will transform humanity. We haven’t seen anything of this magnitude since the invention of the printing press in the 1400s. Here are the six: