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The IoT and InsurTech in the year ahead

THE IOT IS REDEFINING SO MANY ASPECTS OF BUSINESS GLOBALLY , WITH SIGNIFICANT IMPACTS ON INSURTECH

WRITTEN BY : JOANNA ENGLAND

So much has changed over the past decade in terms of risk assessment , incentives , underwriting , and claims responses . Much of this can be laid at the door of the IoT ( internet of things ) as popular , wearables , connective devices , and sensors send insurers vital information that forms insights , providing customer profiles and risk assessments that can accurately predict the future .

Alongside the data collection and constant customer connectivity , come creative incentives , made more user-friendly through gamification technologies . The insurance industry has never looked so dynamic , but this incredible shift is just the tip of the iceberg .

106 March 2021