THE CRO FORUM’S EMERGING RISK INITIATIVE
In 2017, SCOR coordinated the production of the CRO Forum’s position paper on Autonomous machines, published in November.
Autonomous machines are used in almost all sectors of today’s economy and have wide implications for both the re/insurance industry and society at large.
Including self-driving cars, robots and autonomous equipment used for manufacturing, mining, farming, transport, medical care and even lethal autonomous weapons, the uses for autonomous machines are developing rapidly and bring with them new legal, regulatory, societal and ethical considerations.
This position paper summarizes the main issues that the re/insurance industry currently faces as a result of advances in the use of autonomous machine technology. The paper is illustrated with practical examples covering the current uses of the technology and the risks and opportunities that these present for the (re)insurance industry.
The CRO Forum emphasizes the link between many emerging risks and sustainability risks. Previous papers that discuss sustainability risks in the context of the insurance industry include those published on water risks and food security risks.
In 2018, the CRO Forum’s position paper will be on the subject of Climate Change.