The Transhuman and the Fourth Decade Effect: Evolution of Insurance for the Future Chief Strategy Officer, EFU Life Assurance Ltd Actuarial Conference on International Issues, Trends and Professionalism 25 November 2014, Karachi

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Moore’s Law "Moore's law" is the observation that, over the history of computing hardware, the number of transistors in a dense integrated circuit doubles approximately every two years. – Gordon E. Moore, co- founder of the Intel Corporation, who described the trend in his 1965 paper.

NBIC NanoBioInfoCogno

N B I C

Info

Cogno

Watson

Nano

Bio Organ regeneration

Bio HGP – Human Genome Project – Determining sequence of chemical base pairs which make up human DNA – Identifying and mapping all of the genes of the human genome from both a physical and functional standpoint.

Convergence Technology - From wearable to implantable

Convergence of technologies Expanding human cognition and communication Improving human health and physical capabilities Enhancing group and societal outcomes

Ray Kurzweil, of course, is well known to h+ readers as the author of the seminal book, The Singularity is Near, and more recently as a founder (with funding from Google and NASA Ames Research Center) of Singularity University. Bill Joy, cofounder and former Chief Scientist of Sun Microsystems, is known as a critic of Kurzweil’s technological optimism — but not necessarily his predictions. In a now-famous piece published in the April 2000 edition of Wired magazine entitled “Why the future doesn’t need us,” Joy suggested that our most powerful 21st century technologies — genetic engineering, nanotechnology, and robotics (GNR) – are threatening to make humans an endangered species. In 2003, Kurzweil responded to Joy and acknowledged, “Technology has always been a double-edged sword, empowering both our creative and our destructive natures. It has brought us longer and healthier lives, freedom from physical and mental drudgery, and many new creative possibilities. Yet it has also introduced new and salient dangers.”

The SINGULARITY is near ?

Since our inception in 2008, SU has empowered individuals from more than 85 countries to apply exponentially growing technologies, such as biotechnology, artificial intelligence and neuroscience, to address humanity’s grand challenges: education, energy, environment, food, health, poverty, security, space and water. In just six years, our alumni, partners and members have generated more than 100 startups, and numerous patents and ideas to help advance this mission.

Singularity Around 2040 – the Fourth Decade

TransHuman-ism is a process, a transitional state. PostHuman is a result.

HUMAN 2.0

PostHuman ?

Scenario of future human life All aspects of Human life will be converted to “data” – AI analytics Significant advancements in medical science – From “Preventive” to “Predictive” treatment Life extension – beyond normal improvement in mortality AI to play an integral part in human daily life Connected communities

Infinite “data” All aspects of Human life will be converted to “data” – AI analytics – Medical and lifestyle predictions – Every minute of a human life can be mapped and tracked – Usage for risk assessment – AI at POS – Challenging traditional underwriting – Insurance benefits linked to what the data reveals – Insurance of all implanted and wearable devices – Rewards to policyholders for allowing data collection

Predictive treatment Significant advancements in medical science From “Preventive” to “Predictive” treatment – Predicting a possible disease years before it occurs – Human Genome study – Will humans stop getting serious illnesses? – Can this knowledge be used in risk assessment – Exclusions in insurance policies

Life extension Life extension – beyond normal improvement in mortality – Organ regeneration insurance – Critical illness products? – Living benefits – more popular – Mortality risk – significance in pricing? – Multiple occupations in one life span – “Retirement” needs

Improved life expectancy

Trends leading to the future Technology - From wearable to implantable

Trends leading to the future Organ regeneration – life extension

I never think of the future… it comes soon enough. Albert Einstein

Thank you!