The turbulent journey that American International Group Inc. has been on over the past couple of years may not be over yet, but most observers seem to agree that, with Brian Duperreault returning to run the insurer where he learned the trade, calmer waters lie ahead.

His long experience at a succession of industry companies during key moments in their development is seen as something AIG will benefit from as it seeks to move forward. While it’s unclear exactly where Mr. Duperreault will lead the company, it’s apparent that he sees increased use of technology as a driver of growth for the insurer.

And he’s not alone in seeing technology as the next big thing in insurance. Reading through the interviews with our Break Out Award winners in this issue, you’ll see that the No. 1 concern of the up-and-coming executives in the sector is technology. Whether it be the industry’s slow uptake of data analytics, the prospect of artificial intelligence playing a much bigger role in underwriting and claims, or the sweeping changes that technological developments are making possible in the world at large, the insurance and risk management sector is going to feel the impact of the changes — and in many instances it already has.

Some in the industry may feel like the handloom weavers of the 18th and 19th centuries who saw their world turned upside down by machines during the Industrial Revolution. And they may be right to feel like that.

Computers have already revolutionized the personal lines insurance industry, the small commercial space is seeing increased use of automation in quoting and binding policies, and the middle market is next. But it’s not just the basic underwriting and claims functions that are being automated. We’ve barely scratched the surface in terms of what artificial intelligence and qualitative and quantitative analysis might do in terms of reshaping areas of the sector that currently rely on highly trained staff.

While the automation of traditional office work may threaten jobs, it will also lead to new possibilities in terms of providing enhanced products, wider coverage and the capability of underwriting emerging risks comprehensively now rather than waiting for years of claims data.

Embracing those possibilities must be the only route forward if the insurance sector is to remain one of the cornerstones of commerce.