“ANY SUFFICIENTLY ADVANCED TECHNOLOGY IS EQUIVALENT TO MAGIC.- ARTHUR C. CLARKE.”
It is an incredibly interesting time to be on the planet. In the past (very) few years, conversations around board room tables and dinner tables alike have drastically changed, as collectively our reliance upon, familiarity with, and understanding of more complex technology has taken quantum leaps up the learning curve.
At the ARMOUR technology and cyber-security conference in Cayman in late 2018, it was suggested that Cayman leave its dollar behind and go 100% crypto currency.
In November 2018 Richard Branson ‘toured’ his new Virgin Galactic’s spaceship, via VR of course, in his drive to ‘democratise space’ by providing access to it.
Quantum computing, “hactivism”, ‘neurohacking’, mass data, artificial intelligence, nanotechnology, avatars, robotics … all terms quickly becoming part of our lexicon. The speed at which this technology is being developed, and becoming part of how we think, how we communicate, how we do business, is breakneck, which of course impacts how we assess the risks associated with these developments in our businesses.
This sixth issue of Captive Insight has its eye firmly planted on the future: of international insurance; and the dramatic impact of technology as it permeates every level of business and our personal lives.
In this issue, we are also proud to highlight a monumental change as the Insurance Managers Association of Cayman boldly launches its new outward-facing brand: Cayman International Insurance, The Better Alternative. This new brand changes the way the association communicates by presenting itself not as an industry body trying to develop itself, but as the face of an already successful industry that has moved to the next level, ready and able to explore new markets, innovations in how captives and other insurance structures are used, and technological advances that already play such an integral part of what we do.
Arthur Clarke’s second of three laws (the third being quoted above) is “the only way of discovering the limits of the possible is to venture a little way past them into the impossible”.
May we always take strides to discover more, push the limits of the impossible, and continue to tap into universal creativity to explore beyond our wildest dreams.