Page 24 - Insurance Times August 2018

the safety improvements autonomy can bring to high hazard to greatly improve safety, increase mobility and transform
activities; For instance, online retailers and supermarkets lives, businesses and public services.
are increasingly turning to more automated, "dark"
warehouses, a term used for a storage facility that does not Because we believe so strongly in the societal good of
require the use of lighting for normal operation. advancing autonomy, we, at XL Catlin, challenged ourselves
to develop an insurance solution to support the greater
Cold storage or freezer warehouses, such as those used in adoption of autonomous technologies, particularly in
the food and beverage or pharmaceutical sectors, are insuring pilot projects that are helping pioneer autonomous
particularly suitable to 'go dark,' requiring less people to work technology in business and industry.
in adverse conditions like sub-zero temperatures.
We have learned, working with some of these early
Understandably there is some skepticism as to what this will adopters, that while there are no two similar uses of
mean to the workforce and jobs. Autonomy will redistribute autonomy and each requires a tailor made approach, there
and redefine the types of jobs and skills needed, and is a real need for a structured solution spanning our
challenge us all to create new business models and provide expertise across multiple classes of insurance. As a result,
support to reskill workers. A 2017 study by Intel and analyst we've launched an initiative to provide tailored, multi-line
firm Strategy Analytics forecasted that the new wave of coverage for the risks associated with designing, developing,
autonomous technology could add up to $7 trillion in testing and implementing autonomous systems.
additional economic activity by 2050.
Given our new insights into autonomy gathered from our
Likewise, NAICS' updated classifications acknowledge the partnership with Oxbotica and our multiline insurance
importance of these electronic industries, their rapid growth products, XL Catlin is well positioned to take on the risk of
over the past several decades, and the likelihood that these the autonomous revolution and ready to be the market
industries will, in the future, become even more important leader for insuring autonomy. As more of our clients start
in the economies of the US, Canada and Mexico. incorporating autonomous technologies into their
operations, in one form or another, we'll be ready.

Changing how the world moves For autonomy to advance there has to be companies willing
to take on the risks of autonomous technologies, especially
Undoubtedly, autonomous robotic technology, and as they evolve. It's an assumption of risk faced with
autonomous vehicles in particular, will fundamentally change challenges about conventional concepts about liability and
how the world moves people and goods over the next 20 causation.
years. And the potential is big. Autonomy has the potential

Insurance Quiz

1. Which Insurance startup has received capital infusion from Fairfax holding?
2. The Non performing Assets in Insurance Industry has risen by.
3. Which company is planning to deliver policies through Whatsapp?
4. Supreme Court has directed for mandatory insurance of which class of vehicles.
5. The tradewar between US and other countries will boost which line of business.
6. Which company is the lowest bidder in health insurance scheme?
7. Which line of business is projected to be the next hot business?
The answers of the quiz are from this issue itself. Just go through our journal and you will find the answers. Send your
answers by Email to insurance.kolkata@gmail.com and you can get a chance to win an attractive gift. The gift will be
offered to the person giving all the correct answers. If we receive more than one entry with all correct answers the name
of winner will be drawn from lottery. The last date of receipt of entry is 25th August, 2018.

So Hurry and Submit your entry at the earliest !!!!

24 The Insurance Times, August 2018