The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has released a new report highlighting seven megatrends that will impact Australia over the next two decades.

The trends – including climate change, digitisation, and geopolitical shifts – have broad implications for the insurance industry as well as society as a whole.

“Australia is at a pivotal point. There is a tidal wave of disruption on the way, and it’s critical we take steps now to get ahead of it," CSIRO CEO Larry Marshall said.

“From resource scarcity to drug resistant superbugs, disrupted global trade, and an increasingly unstable climate threatening our health and way of life – these are just some of the challenges we face.

“But these challenges also tell us where the most powerful innovation can be found, when we see a different future and leverage science to create it.”

See Analysis.