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Insurance in an Exponential World

Bill HartnettHead of Innovation

ACORD

© ACORD 2016

Capital Markets firms compete in a global environment in which speed, sifting through the explosion of data, regulation and risk analysis will spell the success or failure of the business. Through our SMEs and the broadest Partner Ecosystem in the industry, the IU is committed to providing the evidence that Windows, .Net, MOSS, and our other products provide the speed and edge that means competitive and business success.

"Insurance is the DNA of capitalism. Buildings and homes don't get built, lives can't be repaired, products aren't made, food doesn't get produced, and services can't be delivered without it. Insurance is vital to the modern global economy, and navigating these megatrends will increasingly define our success in helping to propel it.“Joe Plumeri, Willis Group Chairman & CEO, 2/27/2008A.M. Best Company's 15th Annual Review and Preview Conference

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Risk 101

Three ways to manage riskEliminate itTransfer itInsure it

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Insurance 101

Law of Large Numbers

Spread of Risk

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The Future Circa 1954

“It is not too much to expect that our children will enjoy electrical energy in their homes too cheap to meter” – Lewis Strauss, Chairman AEC

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Exponential growth

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Science | NYT Now Scientists Report Finding Reliable Way to Teleport Data

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DISRUPTION

Internet of Things

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© ACORD 2016

Innovation?OR ALREADY OBSOLETE?

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Cars

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Autonomous Semis

https://youtu.be/RjRaVExmwVk

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© ACORD 2016

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DISRUPTION

Cognitive Computing

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DISRUPTION

Drones

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© ACORD 2016

DISRUPTION

Genome Sequencing

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DISRUPTION

3D Printing

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3D Printed homes

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DISRUPTION

Blockchain aka Mutual Distributed Ledgers

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© ACORD 2016

"Ledgers are the infrastructure of finance. Mutual distributed ledgers are pervasive and permanent. They will transform all financial trust architectures -exchanges, insurers, banks, and information providers." Professor Michael Mainelli, Executive Chairman of Z/Yen (2015)

© ACORD 2016