MAGYAR NEMZETI BANK 2016; Simplilearn, 2019). The latest technological accomplishments can be used in the insurance sector as well. Insurers collect data via sensors and send drones to disaster areas (such as after the Katrina hurricane) or to other locations which are difficult to approach. Due to this, the processing time of the assessment became shorter and injured people access the insurance amount faster (Economist, 2019b). Based on the surveys by Dlugolecki – Lafeld (2005), climate change may increase potential property loss by 2-4 percent annually. 35-40 percent of the losses occur as a result of natural disasters, more than three
quarters of which are caused by storms and floods. Climate change may further exacerbate the intensity of storms, increase the greenhouse effect and lead to a further rise in temperatures.
Box 4-4: Smart cities as the most efficient response to urbanisation In recent decades, increasing urbanisation has been observed globally, but particularly in the developing countries. In 2018, 55 percent of the world’s population lived in cities, and based on the forecasts this proportion is likely to rise to 68 percent by 2050. Further increases in the rate of urban population will cause urban conditions to deteriorate, and it is essential to ensure that cities operate in a sustainable way, both in environmental and economic terms (UN, 2019). Although based on the data of WHO, cities are the growth engine of the economy – almost 80 percent of global GDP is generated there – all of this is coupled with an extreme degree of CO2 emissions (75 percent of the world’s CO2 emission is generated in cities). A smart city is a city that uses the available technological opportunities in an innovative way. In addition, it promotes better development and a “more intelligent”, more sustainable and more efficient urban environment, i.e. it results in sustainable and responsible economic development, which increases the standards of living (Lados – Horváthné Barsi, 2011). Chart 4-14: Development and integration level of the world’s smart cities
Source: Eden Strategy Institute and ONG&ONG Pte Ltd.
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GROWTH REPORT • 2019
