Leave it to the insurance companies to break a perfectly working toy! 3D printing was going great, heading towards the mass market, until Zurich, Switzerland’s largest insurance company, got involved and instilled terror across the industry.
Jokes aside, you know that 3D printing is being taken seriously when the 75th largest public company in the world decides to get involved to assess the risks, defining it as, “one to keep an eye on”, as stated by its Marketing Development Executive, Kevin Rowe.
Sometime ago I reported on another big financial group’s involvement, Deloitte, and I was struck by the company’s enthusiasm for 3D printing. Zurich’s is similar, they also think 3D printing is going mass market and that it is going to be huge and carry many benefits. Only, for the type of business that they are in, they can but try to identify all the possible risks involved with a much more widespread use of 3D printing technologies at all levels. In fact it is an exercise in realism that we can all benefit from. So here we go.
Zurich’s focus goes from product liability to long-tail employers’ liability. However the company does admit that the real perils associated to intense 3D printing use (if any) are yet to be defined. To do this, the insurance group is currently assessing the associated risks at each stage, from manufacturing the product through to testing, distribution and the end user.
One risk identified is the lack of control for a designer over the way his/her product is manufactured by each different machine, perhaps using materials, or combinations of materials, that are not suitable for that specific model. There is thus a risk that a self-printed model may need to be taken off the market, as well as the known issues relating to copyright infringement.
Zurich believes that when 3D printing does become mass market, the retail sector will be the largest beneficiary. This is already taking place, at some level, in the jewellery industry and, when such 3D printed products can be sold globally, the person or company selling the printable models may need worldwide coverage. Other issues are linked directly to the 3D printing processes, especially those involving heat and powdered materials.
In the end, in my own opinion, one of the biggest risks for anyone involved in 3D printing – especially during this last boom of innovation and creativity – is machine obsolescence. Is there any insurance for that?
