Mitigating Risks in the Innovation Economy

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The world stands on the brink of a Fourth Industrial Revolution characterized by the advent of cyber-physical systems and technological breakthroughs bringing a radical shift in the nature of risks to society. Governance and legal issues related to advanced technology innovations (liability, health and safety, data protection) are presenting significant risk management challenges for technology developers, technology deployers, policy-makers and insurers. The goal of this phase is to realize one or two of the highest priority recommendations from Phase 1 of this work through individual workstreams, including: establish and clearly define insurability boundary conditions for autonomous systems; clarify data needs and establish data governance models to facilitate the sharing of data in the future; better understand and monitor interconnectedness risk build-up; and further explore the common market challenges relating to the sharing economy.


The goal of this project is to to bring together global insurance executives, technology executives, manufacturers of emerging technologies, and policymakers in order to enable the transparent and harmonious allocation of risk coverage for emerging technologies of the 4th Industrial Revolution through multi-stakeholder engagement.