Explore With Us - Mobility trends of the future

Event article | FERMA | 17.-20. November 2019 | Berlin

The mobility sector is undergoing significant change triggered by societal, political and technological developments. Big cities are bursting at the seams and, according to forecasts, the volume of the population living in cities is set to increase from 50% to two thirds by 2050. Meanwhile, politicians intend to reduce CO2 emissions by means of legal requirements in such a way that complies with the sustainability requirements of the Paris Agreement.

Digital transformation, in turn, is fundamentally changing the mobility system. Ownership models of vehicles are changing, and new forms of propulsion are coming into the market. Together, these become the driving force behind four new forms of mobility: networked, autonomous, shared and electric. 

Networked driving has already become part of everyday life, with 80% of newly-registered vehicles "connected". Driver assistance systems have also become widespread, and it has been proven that driver support through these systems helps to prevent driving errors and accidents. 

In the next decade, various degrees of automation will be introduced. We expect the "highway pilot" to be approved in 2022 and the "urban pilot" at the end of the next decade. It will take another ten to twenty years for the autonomous car to chauffeur people, allowing them to take a nap or watch a film. Moreover, for robotic cars to prevent traffic jams, the entire transport system with all forms of mobility must be considered holistically and a suitable infrastructure created.

And it’s not just vehicles set to experience this transition. We recently contributed our insight on autonomous ocean crafts to a Chief Risk Officer (CRO) Forum report on autonomous mobility, which summarises the main issues and impacts that autonomous machines present to the re/insurance industry.

Shared mobility describes a system change in individual mobility. From professional providers to peer-to-peer private vehicle rental or carpooling, the market is becoming increasingly user-friendly and the car is beginning to lose its function as a status symbol. Car manufacturers are therefore reinventing themselves into mobility service providers with comprehensive traffic infrastructure solutions for networked locomotion.

E-mobility as an alternative drive type to traditional combustion engines is beginning to assert itself and will gain considerable momentum. The greatest challenge remains the range of battery and charging infrastructure – for example, there are just 11,000 charging stations throughout Germany for the 110,000 electric cars on German roads.

Although these 110,000 electric cars may seem like a small figure when mapped against the 47million registered cars in the country, our research leads us to estimate that adoption of electric vehicles across Europe and globally will grow very quickly over the next five years. 

This emerging trend is encapsulated by the term ‘green mobility’, which describes various developments and measures focused on meeting mobility needs in a sustainable way. For example, two Dutch-built electric barges with a capacity to transport up to 280 containers are set to embark on their maiden voyage in Holland, powered by batteries which are recharged by renewable energy.

According to the AGCS Trend Compass, green mobility is a trend to act upon now, with an expected adoption speed of two to five years and a very high impact predicted for our clients’ businesses.

Assessing twenty-five trends in six different categories including Socio Economy, Artificial Intelligence, IT Infrastructure and Cities & Mobility, the AGCS Trend Compass is a new strategic tool to help companies navigate the complex, developing landscape of opportunities and risks. 

This rapid evolution in mobility has a knock-on effect for insurance. It provides a major opportunity for insurers who are prepared to aim for the future of mobility and shape their solutions to fit.

We expect to see the following:

  • Manufacturer liability will gain in importance, as will that of software manufacturers and along supply chains.
  • In Germany and many other core markets, vehicle owners will continue to be liable for accidents regardless of fault and the injured party can assert his claim directly against the motor vehicle liability insurer, thus obtaining rapid assistance.
  • A shift in demand to on-demand cover for a journey using a wide variety of means of transport, with reduced demand for private vehicle insurance.

From individual motor insurance to product liability for the automotive industry or hull insurance for autonomous ships – Allianz provides a broad range of insurance solutions for the mobility of today and tomorrow. Explore with us at FERMA Forum…

Meet us on Booth 14 at this year’s FERMA Forum to find out more about our global mobility projects, integrated insurance solutions, and our Trend Compass.

We will be showcasing some examples of mobility of the future on our Booth. We look forward to exploring with you there, in our home city of Berlin. 

The Federation of European Risk Management Associations, FERMA, held its 11th European Forum on Risk Management in Berlin from 17 to 20 November 2019. The theme of the FERMA Forum 2019 has been: "Aim for the future – entering a new dimension in risk"

With more than 4200 participants, the FERMA Forum is the biggest pan-European event of the year for risk professionals.

  • We have been at FERMA 2019 from 17 to 20 November
  • We are delighted to have been awarded best exhibition booth
  • Allianz has been a proud sponsor of the FERMA welcome reception
  • Chris Bonnet, Head of ESG Business Services, Risk Consulting, has spoken about Applying ERM to Environmental, Social and Governance Risks, together with Dr Rodney Irwin from the World Business Council for Sustainable Development
  • We have interviewed clients and brokers on the future of risk management (see videos below)
  • We thank all organizers, clients and brokers for a successful event!

 

 
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Allianz Global Corporate & Specialty (AGCS) is a leading global corporate insurance carrier and a key business unit of Allianz Group. We provide risk consultancy, Property-Casualty insurance solutions and alternative risk transfer for a wide spectrum of commercial, corporate and specialty risks across 12 dedicated lines of business.

Our customers are as diverse as business can be, ranging from Fortune Global 500 companies to small businesses, and private individuals. Among them are not only the world’s largest consumer brands, tech companies and the global aviation and shipping industry, but also wineries, satellite operators or Hollywood film productions. They all look to AGCS for smart answers to their largest and most complex risks in a dynamic, multinational business environment and trust us to deliver an outstanding claims experience.

Worldwide, AGCS operates with its own teams in 33 countries and through the Allianz Group network and partners in over 200 countries and territories, employing over 4,400 people. As one of the largest Property-Casualty units of Allianz Group, we are backed by strong and stable financial ratings. In 2018, AGCS generated a total of €8.2 billion gross premium globally.

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