IoT insurance is expected to fundamentally change what consumers know and how they interact among themselves and the insurers. Allerin’s IoT insurance solutions enable you to adapt to the disruptions of the market and be ready for business model and/or regulatory changes. Our IoT technology for the insurance industry helps you reimagine your digital strategy holistically.
IoT is turning out to be a boon for the insurance sector. Wearable devices such as fitness bands are able to help people, especially the elderly, to track health details constantly. Insurance companies can tweak product pricing and reduce claims by collecting data from such health devices. Health insurance companies can also give a personal touch to their services by sharing health tips with policy holders through IoT devices.
The connected automobile scenario is more mature in terms of technological evolution, insurance adoption and prominence. Most automobile manufacturers have already started to invest heavily in IoT. The data recorded by these devices can also help the insurance industry better evaluate risk and segment the policies according to the driver and car’s previous histories.
Connected devices at home are very valuable in providing crucial data for home safety and risk management. The IoT devices can alert and educate homeowners and policyholders to adopt necessary measures for risk management to assess and reduce the potential loss events caused by common household accidents. Allerin’s solutions can connect to devices and find out the reasons behind these accidents which will enable policymakers to design policies according to the risks involved with the particular house.
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