About Internet of Things Insurance
The explosion of the internet of things is changing the landscape of the insurance world. Everyday objects now have network connectivity, and many families have dozens of smart devices in their homes, workplaces and cars as well as individual wearable devices, with this number only set to increase. The sensors on these smart devices are sending and receiving data, enabling the gathering and analysis of valuable information.
Insurers are becoming ever-increasingly reliant on these technological advancements to make better decisions. Helping them remain as competitive as possible, this cutting-edge information is also invaluable to their customers, bringing a proactive focus on claims prevention over compensation.
Internet of Things Insurance Opportunities
Industries globally are undertaking pioneering internet of things insurance projects, with many organisations partnering to share skills, information and technologies to create exciting new initiatives. Some successful global internet of things insurance projects that are impacting insurance policies include smart devices that gather health, lifestyle, optical, orthodontal, building security, smoke, carbon monoxide and water leak detection data. Other innovations include devices that enable adjusters to gather more claims handling information by monitoring homes to determine risk and potential claims.
Evolve Technologies’ internet of things insurance technology creates opportunities for businesses to innovate that were inconceivable for many of us just a few short years ago.