Press release
Internet of Things in Insurance
The IoT is among the most disruptive technologies in the insurance sector. It has the potential to redefine the traditional insurance business model, shifting the focus from merely protection to prevention. Related gains include new revenue streams, claims/risk prevention, and a more intimate and connected relationship with customers.
Through connectivity and constant engagement, insurers can act as a business partner, spreading the risk with their customer. Insurers can move from being a one-off contact during an unpleasant situation to providing regular advice to their clients on risk management and prevention. While investment in IoT can ultimately generate new tailored value propositions, it will require insurers to shape the right strategy and manage the increased risks.
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Vendors and managed service providers can offer total support in multiple technology contexts, and those with credentials in adjacent sectors can position themselves equally strongly on as-a-service transformation.
Scope
- This report analyses the impact of the internet of things (IoT) on the insurance industry.
- It discusses how IoT is among the most disruptive technologies in the insurance sector.
- It identifies prominent areas in which IoT will impact insurance and the big tech players within this technology theme.
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Reasons to buy
- The report highlights some of the big technology players within the IoT theme, classified by value chain segment.
- It identifies the technology trends within the IoT value chain, as well as trends showing how IoT is being implemented across the global insurance sector.
- The report analyses the IoT value chain across four layers - devices, connectivity, data, and control.
- It provides an industry analysis, explaining IoT, its stages of development, its broad market segments, and a competitive analysis.
- The report discusses the impact of IoT on insurance through key recommendations for insurers.
- The report offers a technology briefing, to explain the six big IoT market segments and the IoT value chain as four distinct layers.
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