The Fourth Industrial Revolution will enable "veritas" (truth) to replace "fidei" (faith), disrupting shipping to a greater extent than sail to steam or the introduction of the telegraph.

Shipping, and the insurance industry, for the last 400 years has had no alternative but to develop “trust” as the cornerstone of the relationship between various interests, and to rely on integrity.

Shipping was controlled primarily from the City of London, with Lloyd’s of London controlling marine insurance for some 200 years before the advent of protection and indemnity clubs, and for some 100 years afterwards.