The 2024 RISKWORLD event in San Diego, Calif., drew over 10,000 risk managers and other insurance professionals from more than 60 countries, as the organization celebrated its 25th anniversary this year.
Peter Diamandis, MD, founder and executive chairman of the XPRIZE Foundation, which focuses on creating and managing large-scale incentive competitions focused on multiple areas, delivered the opening keynote. The New York Times bestselling author is fond of saying, “the best way to predict the future is to create it yourself,” and his keynote, “Exponential World Ahead: The Future is Faster than you Think,” highlighted how that possibility is becoming a reality.
“The day before something is a breakthrough, it is a crazy idea,” said Diamandis, as he provided insights on several meta-trends he sees affecting the insurance industry in the next six years.
1. Increasing abundance in energy — Solar energy is at an all-time low in terms of cost. Battery storage is doubling year-over-year and 13 gigafactories have already been built. Automakers plan to build 54 million electric vehicles in 2030, representing more than 50% of the autos on the road.
2. Ubiquitous comms & sensors —…
