‘Human-centred’ technologies offer great potential: Swiss Re

According to a statement, one key conclusion from Swiss Re’s Technology Shaping Risk roundtable was that insurers should be using and applying technology first and foremost in ways that highlight value and relevance to the customer.

'Human-centred' technologies, including wearable devices that measure biometrics and activity levels, and drone and telematic technology, offered the most potential to achieve this goal, the statement said.

Speaking at the roundtable, Swiss Re managing director for Australia and New Zealand Mark Senkevics said there needs to be a focus on technologies that can improve customer experience, both in the way they interact with their insurers and the types of products they can access.

"As an industry we are increasingly focused on the way technology is shaping risk across the board," he said.

"While still far from fully understood, what we do know is that with smart, real-time, contextual information from human-centred technology, we have the best chance of identifying, measuring and managing it."

The roundtable also noted the importance of insurers partnering with pure tech companies and universities to deliver innovation and fresh thinking.

It also concluded that technological change represents an opportunity for insurers rather than a threat, and that, rather than translating to fewer jobs, new skills will be needed and different roles will appear.

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].