Implications of IoT Data for Insurers

  • ID: 4425001
  • Report
  • 56 pages
  • Parks Associates
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FEATURED COMPANIES

  • CoreLogic
  • EVRYTHNG
  • Fibaro
  • LeakBot
  • Neos
  • Nest
  • MORE

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.

Scope of the Report:

  • 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 - Nest
  • Company Profile - Fibaro
  • Company Profile - Roost
  • Company Profile - LeakBot
  • Company Profile - Verisk Analytics
  • Company Profile - CoreLogic
  • Company Profile - ROC-Connect
  • Company Profile - EVRYTHNG
  • Company Profile - Neos
  • Company Profile - 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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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • CoreLogic
  • EVRYTHNG
  • Fibaro
  • LeakBot
  • Neos
  • Nest
  • MORE

1. Report Summary
1.1 Purpose of Report
1.2 Scope of Report
1.3 Research Approach/Sources

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

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

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

5. Implications and Recommendations

6. Appendix
6.1 Index
6.2 Representative Brands by Product Category

Note: Product cover images may vary from those shown
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  • CoreLogic
  • EVRYTHNG
  • Fibaro
  • LeakBot
  • Neos
  • Nest
  • ROC-Connect
  • Roost
  • Verisk Analytics
  • Z-Wave Alliance
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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