Willis Towers Watson prepared this 2021 TMT Futures Report as part of a 2020/21 research project undertaken with the Mack Institute’s Collaborative Innovation Program (CIP) at the Wharton School, University of Pennsylvania.
Drawing on both internal and external expertise with insights from key executives in the TMT and broader risk management space, this opinion-based report examines five risk megatrends identified in earlier Willis Towers Watson research:
To encourage candor or to preserve the privacy of TMT business leaders and other contributors to this report, not all quotes are attributed. However, the quotes, while edited in some cases for clarity and context, accurately reflect their professional insights. We also endeavored to link cited material, including relevant research conducted by Willis Towers Watson and other organizations, to original sources when appropriate.
Sara Benolken Report Executive Sponsor
Sara leads the global Technology Media & Telecom (TMT) practice, focusing on developing strategy and creating innovative risk management solutions to meet the critical needs of Willis Towers Watson clients in an expanding digital world. She directs the delivery of product development and advisory services based on future trends, the advancement of technology and the creative spirit of clients in the TMT market segment.
Fredrik Motzfeldt Report Chair & Executive Editor
Fredrik leads the regional TMT Industry Group in the UK. He specializes in the development of emerging and technology-related risk management strategies and insurance program solutions. Fredrik directs research, thought leadership and advisory in areas of emerging risks, including the sharing economy, technology dependency and cyber, and their potential implications on our clients’ business models.
Lucy Stanbrough Research Lead & Editorial Support
Lucy Stanbrough MSc, BSc, is the Head of Emerging Risks Research at the Willis Research Network. Prior to joining the Research Network, she worked for the Innovation team at Lloyd’s on a range of thought leadership projects and market communities, including; cyber scenarios; virtual reality; NewSpace; city resilience; synthetic biology; climate related risks and disaster risk finance.
Stuart Calam Research Lead & Editorial Support
Stuart is the Programme Director for Willis Research Network & Climate and Resilience Hub, responsible for the overarching program and operational management of the network. His primary focus is on establishing and strengthening the framework for engaging and delivering research from the Willis Research Network partners for our Willis Towers Watson colleagues and clients. He also leads the Technology Research hub for the WRN, focusing on areas including Digitalization of Work, Next generation technology and Cyber Security.
George Zarkadakis Future of Work and Human Capital & Benefits – Subject Matter Expert & Editorial Support
Dr. George Zarkadakis leads Future of Work in Great Britain and works with clients on workplace transformation due to the impact of Artificial Intelligence and automation technologies. He has over 25 years’ experience in management consulting, media, marketing and communications, as well as in digital strategy and innovation. He holds a PhD in Artificial Intelligence and is the author of “In Our Own Image: will Artificial Intelligence Save Us or Destroy Us?” (Rider Books, Pegasus Books, Nikkei Business Books, China Citic Press). His latest book is “Cyber Republic: reinventing democracy in the age of intelligent machines” (MIT Press, 2020).
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets.
We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.
The Willis Towers Watson Technology, Media and Telecommunications (TMT) practice is innovative, experienced and global. With 7 Centers of Excellence in North America, Europe, Asia and Latin America, our global team is designed to understand rapid and complex changes facing the TMT sectors. We leverage powerful insight and innovation to deliver globally consistent service.
Powered by market analytics and behavioral insight, our integrated teams reveal hidden value within the critical intersections of our clients’ organizations. We are committed to designing and delivering solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. We’re skilled in the complex technology, media and telecommunications marketplace, and experienced in exposures associated with global broadcasting, foreign manufacturing, supply chains, outsourcing, and cyber risk, along with intensified government scrutiny and regulations.
Our team delivers:
We foster an entrepreneurial and proactive spirit to ensure that we provide value-added insights and best practices to influence client outcomes. We have an understanding of our clients’ unique business model and risk appetite, and develop solutions with the best tools, markets and terms.
Strategic planning and program design: Market updates and collaboration with clients on renewal goals. We leverage leading analytics to determine optimal limits, retentions and structure to design programs that specifically meet their short and long-term goals.
Marketing: Our practice has extensive capabilities in creating streamlined submissions and the capability to negotiate terms, coverage and pricing. We focus on effective collaboration globally to ensure optimal client outcomes.
Placement implementation: We leverage our knowledge and experience in the tech, media and telecom industries to review policies for accuracy and to ensure that appropriate enhancements are made.
About the Mack Institute’s Collaborative Innovation Program (CIP) at the Wharton School, University of Pennsylvania & the Students.
The Mack Institute’s Collaborative Innovation Program connects students with business leaders and researchers in the study of innovation management and its practical application to address challenges. We would like to thank Zhiqin Hu, Sulianet Ortiz Torres, Stephen Ipe Varghese, Shihui Wang and Calvin Wong for their support with the TMT Futures report.
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