IUA: 5G to be an enabler

The deployment of 5G wireless networks is likely to be the single biggest technological change for society over the next few years. This is because it will act as an enabler, laying the foundations for many other new developments – from communication using 3D holograms to augented reality glasses.

That is just one prediction to emerge from a comprehensive look into the future published by the International Underwriting Association’s Developing Technology Monitoring Group (DTMG). The latest piece of research is based on an in-depth interview with Amelia Kallman, a leading futurist, speaker and author.

The new report is titled ‘New Year, New Tech: what will insurers be asked to cover in 2020?’ It analyses prospects for a host of developing technologies such as the augmentation of human bodies and the emergence of brain computer interfaces. Also discussed are potential risk exposures arising from a rush to market of products with minimum cybersecurity standards, privacy concerns around the growing use of biodata and addiction to electronic-sports.

Tom Hughes, market services executive at the IUA and secretary of the DTMG, said: “Making predictions about the future is never an easy thing to do, but our interview seeks to discuss which technologies might be a mere flash in the pan and which are likely to have longer term implications. Insurers are well aware that they need to learn, prepare and act to provide suitable policies for clients and their fast-moving technology-related exposures.”