1 2 3 4 5 Innovation DNA Broadening beyond digital Meanwhile, scientific advancements are broadening enterprises’ Now, reinsurers are looking for ways to apply their expertise in this The solution uses virtual reality and AI to realistically simulate innovative efforts beyond digital technology and turning into field not only in their own businesses, but also to scaling global critical workplace conversations. Training scenarios built with the competitive advantage faster than ever before. Advances in responses to extreme weather. Swiss Re, alongside other members platform use virtual environments, speech recognition, NLP, and material sciences, energy, genomic editing and more are deeply of the Insurance Development Forum, has partnered with the UN realistic body language to simulate conversations with customers disruptive in related industries, but also beginning to challenge Development Program (UNDP), jointly committing $5 billion of and colleagues. The virtual environment offers employees a safe 51 boundaries and pull businesses in new and unexpected directions. capacity to support climate resilience in developing countries. space to hone their communication skills. This application builds on Farmers’ success in using VR to help claims representatives 52 practice home damage assessments. Consider climate change as an example—ranked by insurance At the same time, DARQ technologies are steadily growing in executives in the Technology Vision survey as the number one utility and adoption, except for quantum computing, which challenge in society that scientific research and advanced looms further on the horizon. Leading insurers are exploring technology can address. Reinsurers Swiss Re and Munich Re have solutions that blend some of these technologies, building their studied changing climate patterns for decades. According to Munich foundation for a world with digital everywhere. Farmers Insurance Re, there were 820 natural catastrophes in 2019, with losses from these is developing a virtual human-training program in collaboration 50 disasters amounting to $150 billion. with Talespin. The training modules are intended to help improve the overall customer experience by focusing on the moments that may matter most. 54 Technology Vision for Insurance 2020 | We, the Post-Digital People