Understanding The Future of Risk

Sam Chapman - December 05th, 2018

Group of people smiling with an award

The business model and prediction of risk as we know it is changing. This is being driven by a number of forces including digitisation, big data, the development of new vehicle technology, the rise of the connected consumer, changing vehicle ownership patterns, and major shifts in mobility habits.

Keeping up with these rapid changes can be challenging, but one way The Floow aims to support our clients with this, is to help them understand what’s coming next from wider market influences and how this will affect their business.

To do this we are involved in a number of collaborations in order to develop insights into the future that may impact our clients. In a similar way to how we partner with our clients, we are closely linked with a number of projects that are all about seeing and shaping what’s coming next.

One such project is MOVE_UK, a project designed to advance the progress of autonomous driving technologies using connected validation. The Floow is a key partner, alongside a number of influential organisations, who all look at the issue from a slightly different viewpoint:

  • Bosch – the leading global automotive tier one supplier
  • Jaguar Land Rover – the UK’s research leader and the largest vehicle manufacturer
  • TRL – Europe’s leading transport research laboratory
  • Direct Line Group – one of the UK’s largest insurers
  • Royal Borough of Greenwich – a test bed location for real world deployment of new technology ranging from 5G to various transport and vehicle automation projects

Whilst we know there are large advances being made in the creation of autonomous vehicles and assistive technologies, this project specifically aims to explore how to validate, test, and review risks in these new emerging technologies. Ultimately this aims to help shape the future of insurance in this changing environment.

This leading work helping to prepare the industry has recently been recognised through receiving a Collaborate to Innovate award in the Data and Connectivity category. The award, from The Engineer, in partnership with the Engineering and Physical Science Research Council and Engineering UK, was celebrating the very best in collaborative engineering innovation across the UK.

Given these ongoing shifts in ‘The Future of Risk’, The Floow will be hosting a webinar on this topic to share some of these insights, on Tuesday 11th December at 3.00pm (GMT). For more information and to register click here. If you can’t make it, register your interest and we’ll send you a link to the recording.

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