Imagine that your car, acting on information from your AI-powered virtual assistant that you didn’t get enough sleep, suggests driving itself to your morning meeting—and if you refuse, talks to neighboring cars to keep everyone safe.

“InsurTech is where the insurance industry’s future begins”—a starting point that is unfathomable and challenging, according to Magdalena Ramada and Andrew Harley of Willis Towers Watson. Still the promise of InsurTech is well within reach, they wrote in a recent report that includes a more detailed version of the imagined scenario.

In the report titled, “#Insurtech is a launch pad to unimagined possibilities for insurers: Think it, and it can be,” Harley, Global Leader of the Advanced Analytics practice in London, and Ramada, a specialist in emerging markets research, detail the current level of industry adoption of novel external data sources and emerging technologies. The authors also present a vision of the not-too-distant future, imagining a world in which an individual’s digital footprint gets recorded in real time into an immutable, highly encrypted distributed digital ledger connected to his or her watch, phone, car, smart house, private virtual assistant and wearable health tracking devices.

Since guessing the actual future state of the insurance sector is nearly impossible, the authors recommend structured scenario planning in order to build adaptable and resilient business models, offering a set of recommended practical steps for strategy development.

The paper is available here and here for industry professionals interested in accessing their strategy development guide.