By FINTECH Books Contributor, Ben Rose Follow: @digitalrisks Evolving Risks – Issues such as cyber-attacks and data breaches are already replacing fires, thefts and floods as the biggest concerns. Cyber insurance will become a must-have as businesses wake up to the very real threat of a cyber-attack. Many will also be motivated by the new data protection regulations coming into force in early 2018, which mean the potential impacts of a breach will become even greater. Connected insurance – While telematics is fairly advanced in motor insurance, this level of connectivity and data analytics will start to purvey other areas of insurance.In cyber for example,insurers will be looking to measure system vulnerability and reward businesses for proactively managing their exposure. Artificial intelligence – According to Accenture, four in five insurers are planning to deploy some sort of AI technology in their enterprises. AI can be used in a variety of ways, from building an online virtual assistant for the quote or claims process, to predicting what insurance you need, or identifying fraudulent claims. Even greater personalisation – For example, the rise of micro-policies, which allow customers to more easily insure individual items and turn their cover off and on when they need it. It will also become the norm to purchase insurance at the point of sale, for example when you buy a laptop, or when you’re purchasing a related product or service, e.g. anti-virus software. Blockchain– BNP Paribas launched its live blockchain payments service in December and it won’t be long before this technology is revolutionising insurance as well. Its security and transparency means it has the potential for creating smart contracts, speeding up the claims process and reducing fraud. If you would like to learn more about FinTech please look at our video courses at FINTECHCircleInstitute.com