Technology makes the impossible possible and everything we\u2019ve become accustomed to will change or disappear. Think Spotify instead of the music store on the corner or Airbnb instead of a hotel. The end of the insurer is in sight, because when we can prevent illness and repair or replace products cheaply, risk will become a less important factor.<\/p>\n
In 2020, anyone with a (mandatory) electronic pill and DNA passport will be able to predict illnesses. The AliveCor wearable, for instance, can produce an ECG within three minutes. With this kind of technology, healthcare can become much more streamlined and customised. Major global players such as Philips and GE are working on tools that, within ten years, will replace the GP. The American insurer Oscar gives its customers discounts as well as free wearable fitness trackers<\/a> if they decide to start exercising. Of course, data derived from these wearables is used to gain customer insight and improve their products and services.<\/p>\n Around the year 2025, driving on autopilot will become compulsory. This will render vehicle insurance as we know it today virtually obsolete. We’ll use an autonomous car<\/a> to travel from A to B. If it\u2019s not transporting passengers, it will make itself useful delivering parcels. This will lead to a dramatic decrease in the number of cars on the road, vehicle damage and personal injuries. Policyholders who install smart systems will get discounts on their premiums. Dutch disrupter of the year 2015, \u2018Fairzekering\u2019 (Fairsurance), monitors your driving behaviour via a special \u2018plug\u2019, called the Chipin. Well-behaved drivers receive 35% back on their premiums. With the emergence of this type of technology, combined with big data and the IoT, revenue from vehicle insurance will eventually dry up and many insurers won\u2019t survive this development.<\/p>\nCars that don\u2019t cause accidents<\/h2>\n