Technology's influence on the insurance industry continues to grow in the age of digitalization. As the industry continues to infuse technology into its practice, it is increasingly susceptible to technological liabilities, such as increasing cyber and product liabilities and recall risks.

Business models in the digital economy are more complex and without clear borders, making liability harder to apportion and claims more complex to settle — despite the frequency of claims expected to decline. The growing "sharing economy" raises new questions about liability. In the future, a road traffic accident could involve the vehicle manufacturer, software provider, and the fleet operator, as well as third parties involved in the accident. 

Allianz's Global Claims Review report, which focuses on global developments in liability-related insurance over the period 2011 to 2016, examines which future influences will impact liability claims going forward. 

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].