Annual Meetings-Emerging Trends:The IoT and Big Data

Pdf Summary

The document discusses emerging trends in data and analytics, focusing on technologies such as blockchain, artificial intelligence, cloud computing, internet of things, and 5G. It highlights the impact and implications of these disruptive information technologies, including the rise of cryptocurrencies like Bitcoin and the need for secure blockchain networks. The importance of real-time data, connected devices, and industrial IoT in digitizing the physical world is also emphasized.<br /><br />The text delves into the impact of new technologies on industries, such as on-demand insurance, autonomous vehicles, and dynamic pricing, leading to new business models and customer acquisition strategies. Inland marine insurance is positioned as a center of innovation due to complex risks, lighter regulation, and opportunities for profitable growth. Considerations for innovation programs, competitor activities, risk correlation, and the role of technology partners are discussed for driving business optimization and customer retention.<br /><br />Key takeaways include promoting inland marine as a center of innovation, conducting simple pilots with policyholders, partnering with data companies, analyzing historical data, and focusing on loss control for justification. The document stresses understanding the impacts of emerging technologies and starting innovation efforts based on current capabilities. Overall, the text encourages proactive engagement with emerging trends and technologies to stay competitive in the rapidly evolving landscape of data and analytics.

Asset Caption

Presented by David Shillingford, President, Pegasus Analytics

Keywords

data analytics trends

blockchain technology

artificial intelligence

cloud computing

internet of things

5G technology

cryptocurrencies

real-time data

industrial IoT

business innovation