Mitigating Risks in the Innovation Economy

Tiny icptgqzdrqsgf49sbdhegcojarqnl2vd2tzoxq1u0xk

The world stands on the brink of a Fourth Industrial Revolution characterized by the advent of cyber-physical systems and a wide range of technological breakthroughs bringing a radical shift in the nature of risks facing 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, policymakers and insurers . Collaborative action by global leaders is essential to address the risks in this era of global interdependence, complexity and uncertainty.

In this project, insurers, technology pioneers, policy-makers, government representatives, academics and civil society will provide input to the Forum on key recommendations to redistribute risks and potential losses associated with emerging technological innovations. The recommendations are intended to encourage international collaboration to create market-based solutions to build resilience, mitigate the economic and social impact of global risks, and enable these innovations to serve their intended purpose with limited trade-offs.

Objectives

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.