APRIL 2018CIOAPPLICATIONS.COM8Chris MandelCHRIS MANDEL, SVP, STRATEGIC SOLUTIONS, SEDGWICK & DIRECTOR, SEDGWICK INSTITUTEGUY FRAKER, CHIEF INNOVATION OFFICER, INSURANCE THOUGHT LEADERSHIPRedefining Risk, Risk Profiles and Risk Managementhat which is long expected suddenly becomes the unexpected when at last it arrives" This wise observation from Mark Twain has never been more relevant than now, while we navigate the greatest period of knowledge acquisition and creation in all human history. Visionary tech pioneer Dr. John Gage has an equally profound and succinct quote that is particularly important when considering risk, "I only know of two hurdles to human capacity, light speed and human imagination and I'm confident we'll fix one of those." In other words, the "can we?" Question will almost always be, "sure we can build that". However, this leads us to an equally essential question that receives far less attention, "Should we?" The networking platform built by the team at Insurance Thought Leadership (ITL) appropriately named Innovators Edge (IE) is an ideal tool for those in risk management to discover which concepts still sit over the line separating science fiction from those pushing the boundary of reality. Statistics from IE portray a convergence of technologies transforming both the very nature of known risks and established methodologies of managing them. ITL's platform contains an estimated 43,000 early stage firms located in more than 175countries, fueled in 2017 by an estimated $376B in seed, series A, B, C funding, all of which are dedicated to reinventing one or more risks. For example, 340 of those firms are wholly dedicated to ending vehicle fatalities which, in 2017, received $3.5B in funding to accelerate pace towards that goal. Around the world the total fatality count of WWII has been repeated twice over "TAPRIL 2018CIOAPPLICATIONS.COM8IN MY VIEW
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