iot in insurance Archives

IoT is all set to make its presence felt in the Insurance sector IoT in insurance can potentially redefine the role of the sector from one that compensates for the loss of the policyholder to one that prevents potential losses.

The insurance industry has traditionally been viewed as a group of businesses that financially compensate individuals and organizations for losses incurred by them. The biggest challenges faced by insurance organizations…

It has begun – IoT is helping price insurance premiums More than six million devices are already connected to the internet, and thousands of devices are getting connected every day. IoT's real-time data collection and sharing power has created significant and new opportunities to deliver finer products, specialized pools of risk and predictive modelling and improved loss control. The Internet of Things has showcased a great potential to reshape the way insurers assess, price, and limit risks.

December 29, 2016 by Naveen Joshi

Take an example of an insurance firm Zurich that has offered a discount on monthly insurance fees, if a customer uses the IoT alarm offered by a company called Cocoon….

IOT