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Driverless Vehicles Coming Sooner Than We Think, Says XL Group CEO

The insurance industry does not innovate as fast as it should in a digitally powered, evolving world.

By Shawn Moynihan | Updated on December 01, 2017

During his presentation Nov. 6 at IRMI’s Construction Risk Conference, XL Group Ltd. CEO Mike McGavick delivered a wake-up call that the insurance industry needs to evolve in tandem with the accelerating pace of change in a digitally powered, evolving world. Some of the innovations that will shape our collective destiny, including autonomous vehicles, will arrive faster than some may think.

“I believe completely that we’re living in the renaissance of the insurance industry,” McGavick told the audience at the J.W. Marriott in downtown Indianapolis during the IRMI conference’s kickoff session. “The rate of change is extraordinary, and will not slow down.”

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Shawn Moynihan

Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].

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