In this video, Dan offers ideas on what he believes will be risks that haven't even been considered yet.
- Looking into the future is difficult.…In another video in this course, we discussed areas…that insurance would likely be more prevalent…in the near future.…The reality is that those exposures are easy to imagine…because we already see them in their early phases now.…The hard part is figuring out what hasn't been invented yet.…Let's look at an example.…In the early 1990s, nobody thought that a watch…would be available that offered the full capabilities…of a phone, a computer, a fitness tracker,…and even a personal assistant.…
Even comic strip legend Dick Tracy's watch wasn't that cool.…Less than a quarter century later,…companies like Apple have developed them.…With that technology comes physical and liability risks…that at some level must be insured.…Nobody saw it coming.…Now you may be asking, Dan, how can we make up things…if we have no idea?…It's a good question.…Here's your answer.…In your industry, you most likely know what's coming…if you think outside the box.…
Here's an exercise you can do with your team.…
- Recall the detrimental effects a BOT attack can have on a company’s customer database.
- Recognize which individuals companies frequently fail to include in mid-crisis actions.
- Determine how Google Alerts can help a company protect itself against threats.
- Identify a threat that is least likely to cause a company financial harm.
- Define “culture shock” in the context of business operations.
- Name a type of leader that often uses their position for personal prestige rather than performing their roles.
- Predict what will happen with business insurance as technology evolves.