New Insurtech startup, Habit Analytics, Acquires IoT company, Muzzley, creating a new strategic offer for Insurers

Habit Analytics is creating new products for insurers’ by connecting them with 3rd party services and using data to improve behavioral profiling and risk mitigation

September 26, 2018
New York, NY

For insurers, the more data on their customers daily lives and needs, the better they can manage and evaluate risk. However, convincing customers to share this kind of valuable data is a challenge. This is where New New York City based Insuretech company, Habit Analytics comes in. Upon its recent acquisition of IoT company, Muzzley, Habit is expanding their insurance solutions by connecting services, from Home Safety to Elder Care monitoring, with connected devices, like smoke detectors and cameras, and providing behavioral insights off of the generated data. Ultimately, this provides policy holders with the ability to see their data as an asset and exchange it in return for products and services, and for insurers to gain access to meaningful insights on their customers lives.

Over the last few months, Habit Analytics has been working with top insurers and financial institutions as part of the FinTech Innovation Lab to fine tune their technology to meet industry needs.

“We are offering a paradigm shift for risk mitigation and underwriting where insurers have the chance to better understand their clients,” commented a spokesperson from Habit Analytics. “This can move in many win-win directions. For example, we are very proud of closing a deal with Allianz as a customer who successfully launched an IoT-based Safe Home product to enrich their user's home security.”

Habit Analytics delivers a complete range of real-time data intelligence through their API's and SDK's.

According to Habit Analytics, their AI data analytics platform also provides two main benefits to the companies they work with. First, they enable new services on top of connected devices that insurers already offer to their customers. Second, the company delivers first-class human behavioral analysis that enables insurers to better understand the risk they are underwriting and promote safer and healthier behaviors in their own clients.

About Habit Analytics:
Habit Analytics is a data analytics startup headquartered in New York City. Founded in 2018, Habit Analytics aggregates and analyzes data from IoT devices, smart phones, and contextual data sources to extract consumer insights which enable new services and data driven decision making.

About Muzzley:
Muzzley works to simply and seamlessly create secure connections between all of a home's connected devices through one easy to use mobile app. It offers users personal recommendations that are based on the information it is provided or gathers based off of schedules or habits. Muzzley brings the home of the future to today. The value this brings to the insurance industry is clear, as observed through the Allianz partnership and their home security system.

For more information be sure to visit https://www.habit.io.

Habit Analytics, Inc.
Address: 92 Chambers St, Floor 2, 10007 NY NY USA
Sasha DeWitt
Email: press@habit.io

This release was published on openPR.