During his presentation Monday morning at IRMI’s Construction Risk Conference, XL Group Ltd. CEO Mike McGavick delivered a wake-up call that the insurance industry needs to evolve in tandem with the accelerating pace of change in a digitally powered, evolving world: Some of the innovations that will shape our collective destiny, including autonomous vehicles, will arrive faster than some may think.
“I believe completely that we’re living in the Renaissance of the insurance industry,” McGavick told the audience at the J.W. Marriott in downtown Indianapolis during the IRMI conference’s kickoff session. “The rate of change is extraordinary, and will not slow down.”
Power of digital media
McGavick likened our rapidly connected world and the data-dissemination power of digital media to the way the invention of the printing press quickened the pace of spreading information and inspired new ideas across a variety of sectors.
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