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SMA Conducts Research on Groundbreaking Technology for Insurance

Staff Writer | August 15, 2016

Strategy Meets Action (SMA) announces new research on Emerging Technologies and Innovation on Insurance. A survey live now in the market is aimed at P&C and L&A insurers and agents in North America. The accompanying research report will be released in conjunction with the SMA Summit in Boston on September 19.

The research assesses 13 key technologies for the property/casualty and the life/annuity industry segments, identifying the top technologies with high near-term potential and investigating insurer plans for developing strategies, piloting, and deploying all of the technologies. The potential to transform the industry in three, five, and 10 years will be mapped out based on insurer responses.

“This continues our research series on emerging technologies, conducted over the last several years,” says Mark Breading, SMA partner and author of the reports. “The insurtech space is expanding rapidly and the potential for emerging technologies to transform insurance is increasing.”

The specific technologies included in the reports are six technologies primarily in the physical domain and seven in the virtual domain. The more tangible technologies in the physical arena are the Internet of Things, wearables, drones, driverless vehicles, advanced robotics, and 3D printing. Those mostly in the virtual space are artificial intelligence, blockchain, semantic technologies/cognitive computing, gamification, new payment technologies, biotech/genomics, and augmented/virtual reality.

 


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