We live in exciting times regarding insurance; there’s still a raft of changes ahead, powered by AI, and regulatory problems, as governments struggle to adapt to a new, online way of assessing and underwriting risk, in its many forms.
Then there’s the inexorable growth of the gig economy and mass migration, as the very concept of nations is increasingly seen as irrelevant – and an inherently bad thing – by global corporations, who prefer a mobile, compliant workforce at their beck and call 24/7. Yet still, those workers need, and some would argue deserve, many types of insurance, from Life to scooter, pocket watch to iPad.
So what does 2019 hold for us? Well, each working day in December, Clyde & Co. is publishing an insurance prediction for 2018 from a different market around the world online at clydeco.com and on Twitter @ClydeInsurance and @ClydeCoNews. Have a quick read and post a comment below, or indeed add your own prediction.
Ours is simple; We Are Not Leaving. Ever.
Clyde & Co insurance predictions for 2019:
1. New data privacy legislation in Brazil will drive demand for cyber insurance Stirling Leech, Rio de Janeiro
2. Insurtech M&A in the US will expand in 2019 Vikram Sidhu, New York
3. Focus on consumer protection to intensify in Australia Avryl Lattin and Yvonne Lam, Sydney
4. Accountability for Australian senior executives will remain a hot topic Dean Carrigan and Naoko Aoo, Sydney
5. 2019 will define insurance landscape for cryptocurrencies Karen Boto, London
6. Investors looking to Asia will consider a range of market entry strategies Kevin Martin, Hong Kong
7. China will be back in focus for international players in 2019 Michael Cripps, Chongqing
8. Blockchain will come of age Lee Bacon, London
9. Digital insurance broking will take off in Singapore in 2019 Ian Stewart, Singapore
10. Scottish historic abuse claims will surge in the coming year Graeme Watson, Edinburgh
11. Three things to watch out for in the Middle East in 2019 Peter Hodgins, Dubai
12. D&O insurers will feel the impact of the expanding remit of #MeToo claims, Mark Sutton
13. Autonomous vehicles will gain traction in the US in 2019 Hilary Rowen, San Francisco
14. Risk awareness of ICOs will rise Leslie Ahari, Washington
15. The growth of environmental product liability litigation worldwide to continue in 2019 Neil Beresford, London
16. Shift expected in the collection and use of personal data in the US Julie Hawkinson, Los Angeles
17. US states’ patchwork of cybersecurity regulations will increase compliance burden Vikram Sidhu, New York