Implications of IoT Data for Insurers

Publication ID:

PAS1117001

Publication Date:

November 13, 2017

Pages:

Publisher:

Parks Associates

Countries:

Global [1]

USD 3,500.00

Computing & Electronics [2]

IT Outsourcing [3]

IT Services [4]

Description:

Home and auto insurers can manage risk and save money by leveraging smart home products to predict and prevent fires, flooding, and device malfunctions. Health insurers can gather data to improve care quality and health outcomes, by collecting and analyzing data from connected devices such as connected blood pressure or fitness monitors. All insurers will also be able to use smart home data to determine the most competitive premiums and provide new benefits to their customers. This report reviews insurance applications for the connected home, assesses benefits for both insurers and policy holders, and evaluates early insurance programs leveraging smart home data.

Implications of IoT Data for Insurers

Table Of Contents:

1.0听听听听听 Report Summary
1.1听听听听听 Purpose of Report
1.2听听听听听 Scope of Report
1.3听听听听听 Research Approach/Sources

2.0听听听听听 Insurtech and the Smart Home Telematics Landscape
2.1听听听听听 Auto Telematics as a Precursor to Smart Home Telematics
2.2听听听听听 Value of Smart Home Telematics for Insurers and Policyholders
2.3听听听听听 Insurance IoT Ecosystem
2.4听听听听听 Smart Home Devices with Insurance Use Cases
听2.4.1听 Water Use Cases
听2.4.2听 Smoke and Fire Use Cases
听2.4.3听 Anti-Theft and Intrusion Prevention Use Cases
2.5听听听听听 Drivers and Barriers for Adoption of Insurance IoT Solutions

3.0听听听听听 Developing a Path to Market for Insurance IoT Solutions
3.1听听听听听 Decision Points
听3.1.1听 Marketing versus Operations
听3.1.2听 Undifferentiated Consumers versus Segmentation
听3.1.3听 Islands versus Ecosystems
听3.1.4听 Economics of Consumer Funding versus Insurer Funding
听3.1.5听 Technology Build versus Buy
3.2听听听听听 Profiles of Ecosystem Players and Insurance Activities

4.0听听听听听 Consumer Attitudes toward Smart Products with Insurance Use Cases
4.1听听听听听 Smart Home Product Adoption
4.2听听听听听 Purchase Intentions for Smart Products with Loss Detection/Prevention Features
4.3听听听听听 A Comparison of Consumer Preferences for Safety Device Bundles
4.4听听听听听 Consumer Attitudes about the Role of Insurance Companies in the Smart Home

5.0听听听听听 Implications and Recommendations

6.0听听听听听 Appendix
6.1听听听听听 Index
6.2听听听听听 Representative Brands by Product Category

List of Figures
Companies Researched for Report
Likelihood of Purchasing Smart Home Products by Auto Insurance Type
Insurance IoT Ecosystem
Smart Home Devices with Insurance Use Cases
Path to Market Matrix: Marketing versus Operational Use of IoT Data
Examples of Insurance Marketing and Sales Strategies with IoT Solutions
Stages of Insurance IoT Implementation
Company Profile 鈥� Nest
Company Profile 鈥� Fibaro
Company Profile 鈥� Roost
Company Profile 鈥� LeakBot
Company Profile 鈥� Verisk Analytics
Company Profile 鈥� CoreLogic
Company Profile 鈥� ROC-Connect
Company Profile 鈥� EVRYTHNG
Company Profile 鈥� Neos
Company Profile 鈥� Z-Wave Alliance
Smart Home Devices Owned
Purchase Channels for Security and Safety Devices
Likelihood of Purchasing Smart Home Products with Detection/Prevention Features
Likelihood of Buying Smart Water Products by Experience with Water Damage
Likely Buyers of Smart Home Products by Insurance Provider
Likelihood of Purchasing Fire Safety Packages among Likely Buyers of Smart Products
Likelihood of Purchasing Water Safety Packages among Likely Buyers of Smart Products
Reasons for Disinterest in Fire and Water Safety Packages
Appeal of Loss Detection/Prevention Products that Automatically Notify Insurers
Preferred Incentive for Acquiring Smart Products
Likelihood of Switching Insurance Providers for Smart Products
Interest in Non-traditional Providers

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Unless a Enterprise License is purchased, a Single User License must be purchased for every person that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

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This license allows for use of a publication by all users within one corporate location, e.g. a regional office.
These users may print out a single copy of the publication.
These users can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.
These users cannot share the publication (or any information contained therein) with any other person or persons outside the corporate location for which the publication is purchased.
Unless a Enterprise License is purchased, a Site User License must be purchased for every corporate location by an organization that wishes to use the publication within the same organization.
Customers who infringe these license terms are liable for a Global license fee.

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Global License (PDF)*

This license allows for use of a publication by unlimited users within the purchasing organization e.g. all employees of a single company.
Each of these people may use the publication on any computer, and may print out the report, but may not share the publication (or any information contained therein) with any other person or persons outside of the organization.
These employees of purchasing organization can include information given in the publication in presentations and internal reports by providing full copyright credit to the publisher.

*If Applicable.

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