How Technology May Affect Insurance in 2017

Marsh has released a new report on trends anticipated in the United States casualty insurance marketplace in 2017. It noted that the Internet of Things, the sharing economy, and autonomous vehicles will all begin to make major changes to the insurance business in the coming year. In particular, telematics that track vehicle performance and driver behavior may enable insurers to offer usage-based insurance. Insurers will also need to develop solutions for the sharing economy, on-demand services companies, and driverless cars. And the interconnectedness of the world will blur the boundaries between traditional liability insurance and cyber insurance.

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