Harnessing the 'Bang': from Digital Disruption to Digital Transformation

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1 Harnessing the 'Bang': from Digital Disruption to Digital Transformation Stephen Huppert Deloitte Touche Tohmatsu This presentation has been prepared for the Actuaries Institute 2015 Actuaries Summit. The Institute Council wishes it to be understood that opinions put forward herein are not necessarily those of the Institute and the Council is not responsible for those opinions.

2 "Computers in the future may weigh no more than 1.5 tons. Popular Mechanics (1949)

3 Everything in this 1991 RadioShack ad exists in a single smartphone.

4 I used to say that this is the most important graph in all the technology business. I m now of the opinion that this is the most important graph ever graphed. Steve Jurvetson

5 E X P O N E N T I A L T E C H N O L O G I E S Artificial Intelligence Genomics Connected Home Sensing Internet of Things 3D Printing Robotics Crypto-Currencies Drones Mobile Payments Electric and Connected Cars Wearables Oculus Rift

6 A M Y R I A D O F D I S R U P T I V E I D E A S A R E N O W B E C O M I N G A R E A L I T Y

7 Artificial Intelligence

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10 Meet NAO A humanoid robot offers basic service information at the Bank of Tokyo- Mitsubishi UFJ's

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12 a c t u a r y

13 The Internet of Things

14 Wearables and insurance

15 Telematics

16 Connected Home

17 The Sharing Economy

18 Peer to Peer Insurance

19 Big Data and Analytics

20 Applying big data in insurance

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22 Social Media

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24 What are actuaries saying on twitter?

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27 "Investor concern over the threat of new technologies is overstated." Blockbuster analyst report, 1999

28 Disruptors tend to show these three essential characteristics that enable them to scale quickly and grow at sometimes unbelievable speed They have a digital platform to connect supply and demand They leverage resources outside their organisation They focus on quick learning by daily experimenting with new ideas

29 Disruptors being disrupted

30 The Battle Is For The Customer Interface Uber, the world s largest taxi company, owns no vehicles Facebook, the world s most popular media owner, creates no content Alibaba, the most valuable retailer, has no inventory Airbnb, the world s largest accommodation provider, owns no real estate Tom Goodwin Senior Vice President of Strategy and Innovation at Havas Media.

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