How IoT offers insureds more value
- This directly impacts the insurance industry, with big data and the IoT reshaping the way insurance companies conduct business.
- Insurance carriers did not have the ability to monitor millions of homes, cars or the health condition of policy holders.
- With today’s customers demanding more value through tailored offerings, insurers must infuse IoT technologies into their current business models and processes.
- Big data can help insurers analyze their customers’ behavior, which allows them to deliver innovative products and services while at the same time improving customer satisfaction and loyalty.
- Insurance companies can evolve from taking a reactive to proactive approach with the help of IoT technology, which ultimately facilitates more impactful touchpoints with policyholders.
Insurers are using technology to reduce risk & improve satisfaction.
@OT_TheMcompany: How #IoT offers insureds more value. @PC_360
The Internet of Things (IoT) is growing at a rapid pace, from two billion connected objects in 2006 to a projected 200 billion connected devices by 2020.
The proliferation of connected cars, homes and health devices is paving the way for a digital economy that will change the way we work, live and function as a society.