Additive manufacturing (AM) and 3D printing, terms used interchangeably, are causing unprecedented change....
3D printing, also referred to as additive manufacturing, is not a new phenomenon. In recent years, however, interest in this technology has surged, with recent reports suggesting that the global 3D printing market is poised to grow to approximately USD15.2 billion by 2025.
While 3D printing was once primarily thought of as only a technology for prototyping, it is now being used by numerous manufacturers across industries to produce end-use components and entire products. It has fundamentally changed the cost, speed, and logistics structure of manufacturing. It has also spurred creativity and led to new opportunities for niche businesses.
Navigating the new risk landscape that 3D printing presents to re/insurers will be a challenge. However, the insurance industry is keen to understand more about this rapidly developing technology and the opportunities it presents.