Robotics & Automation News

Market trends and business perspectives

insurance

The impact of self-drive cars on the insurance industry

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When you think about it, the year 2021 sounds quite futuristic, doesn’t it?

If the film 2001: A Space Odyssey is anything to go by, we should be a further two decades of technology on from immersive interplanetary space travel by now – but unfortunately, we’ve underachieved a little on those goals.

While the sci-fi fantasists of the 1960s might be somewhat disappointed in what we currently have to offer, one mind bending technology that is making palpable and commercially viable strides forward is the self-driving car. [Read more…] about The impact of self-drive cars on the insurance industry

How AI is Changing the Insurance Sector

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Whether you own a business or drive a car, insurance is important to protect your investments and prevent you from sinking in the event of a serious and costly accident or act of malice.

People need to address risk, so they turn to insurance carriers that offer the best premiums for their needs.

To do so, these carriers will have to improve their processes so they can better service their clients. [Read more…] about How AI is Changing the Insurance Sector

Global wearable robotic exoskeleton market forecast to grow to $4 billion

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The global wearable robotic exoskeleton market is forecast to grow to more than $4 billion by the end of 2026 and record annual growth of 43.1 per cent during the forecast period of 2019-2026.

At present advancement in Artificial Intelligence and robotics is enabling wearable robotic exoskeleton development primarily for logistics, medical and engineering commitments due to limited battery support capabilities.

However wearable robotic exoskeleton can be applied in a wide range of industries capable of augmenting the growth of the global wearable robotic exoskeleton market. [Read more…] about Global wearable robotic exoskeleton market forecast to grow to $4 billion

Artificial intelligence systems replacing finance sector professionals

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ibm brain chip
IBM has developed what it says is a ‘brain-inspired’ chip

More and more people are realising that it’s not just factory jobs the robots are after – it’s your intellectual jobs too. 

In the latest developments, an insurance company in Japan has replaced 34 of its insurance claim workers with artificial intelligence systems.

And the world’s largest hedge fund says it will replace all its managers with AI systems – after it drains the brains of its human employees and distills their knowledge into an algorithm.

Full story at em360tech.com

Why it makes sense to insure your drone

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It’s sensible to insure your drones, says Insure4Drones.co.uk

It may once have been the preserve of the military, but drone technology is now an important tool for businesses throughout the UK. Companies in many different sectors are increasingly using Unmanned Aerial Vehicles (UAVs) to give them a commercial edge.

Who uses drones for commercial use?

Media agencies, for instance, are using drones to produce dynamic advertising footage, or to support news reporting, along with photographic agencies, which employ drones to provide stunning panoramic shots and pictures from previously inaccessible places.  [Read more…] about Why it makes sense to insure your drone

Skies full of drones bring many new risks, Allianz warns

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Insurance and financial services giant Allianz is warning that exponential growth in the number of drones in the sky carries a wide range of risks 

Whether used commercially for industrial inspections, aerial photography, border patrol, emergency deliveries and crop surveys or recreationally by millions, drones or unmanned aircraft systems (UAS) have the potential to become a multi-billion dollar business and deliver problem-solving technologies across numerous industries.

However, more drones in the skies also raise a number of new safety concerns, ranging from collisions and crashes to cyber-attacks and terrorism.

To ensure safe UAS operations, systematic registration of unmanned aircraft and robust education and training of operators is necessary, according to a new report from aviation insurer Allianz Global Corporate & Specialty (AGCS): Rise of the Drones: Managing the Unique Risks Associated with Unmanned Aircraft Systems.  [Read more…] about Skies full of drones bring many new risks, Allianz warns

Survey suggests most drivers want telematics insurance

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telematics inforgraphic

New study suggests majority of people favour personalised insurance premiums based on telematics data

Many people believe autonomous cars will have fewer accidents than human drivers. But that’s just a prediction, and driverless cars may not be allowed on the roads for decades, so no one can know for sure at the moment. 

But even now, with all the advanced driver assistance systems – which is basically autonomous car technology – in today’s cars, human drivers are becoming safer.

However, those who drive safely are not always rewarded through lower insurance premiums, as they are calculated based on the behaviour of all drivers, good or bad.  [Read more…] about Survey suggests most drivers want telematics insurance

Toyota develops TransLog telematics service for fleet contractors

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toyota fleet management solution

Toyota Motor Corporation and Aioi Nissay Dowa will launch a discounted insurance fee service based on the Translog telematics service.

This will be targeted at fleet contractors with 10 vehicles or more, and who implement the Accident Reduction Program that utilizes the TransLog telematics service.

Launched in January this year, TransLog is a Toyota Rent a Car telematics service for corporate car lease users. It aims to contribute to cost reductions, road traffic accident prevention, and the optimization of operational management.  [Read more…] about Toyota develops TransLog telematics service for fleet contractors

TU-Automotive Detroit conference and exhibition returns for 2016

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sensors in a connected car
Sensors in a connected car. Picture courtesy Here 360.

Penton’s TU-Automotive has announced the agenda and speaker line-up for TU-Automotive Detroit 2016 (June 8-9, Nov, MI), the world’s largest conference and exhibition dedicated to innovation in automotive technology, covering connected cars, autonomy and mobility.

At TU-Automotive Detroit 2016, the city’s automakers (Ford, General Motors and Fiat Chrysler Automobiles) will join international OEMs such as Jaguar Land Rover, Nissan and Mercedes-Benz to discuss their vision for how the car can become the leading “node” of the Internet of Things.

Leading technology disruptors such as Zipcar, Amazon, Via and Renovo Motors will also take center stage during discussions as the ecosystem widens to embrace new players.

The 80+ session agenda and 150+ speaker line-up can be viewed at TU-Automative.  [Read more…] about TU-Automotive Detroit conference and exhibition returns for 2016

Robotics and IoT are a ‘fundamental threat’ to insurance companies, says Capgemini

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veniam, v2x, v2v, yamaha
Veniam already has customers for its autonomous vehicle networking technology, which utilises Internet of Things

Technology consultancy firm Capgemini claims the insurance industry is facing a “fundamental threat” in the form of the combined forces unleashed by robotics and the internet of things (IoT). 

In a recent study – World Insurance Report 2016 – into the growing trend of using robotic process automation for office administration procedures, as well as such things as cars equipped with telemetry devices which record every driving action, Capgemini found that expectations are changing within customers it calls “Gen Y” – those aged between 15 and 34. One example of a new company which has combined IoT and telemetry in vehicles is Veniam.

John Mullen, corporate vice president and global insurance leader for Capgemini, says: “By not providing adequate engagement for digitally-advanced customers, carriers [companies] run the risk of pushing them toward a growing population of market entrants and non-traditional technology-driven competitors.

“Gen Y is clearly indicating that they do business differently and those insurers who respond to them on their terms will have a clear competitive advantage.”  [Read more…] about Robotics and IoT are a ‘fundamental threat’ to insurance companies, says Capgemini

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