InsurTech Magazine September 2020 | Page 44

A TRANSFORMATION FOR INSURANCE
TECHNOLOGY

Sean Ringsted , Chief Digital Officer at Chubb , provides us with an insider perspective on how IoT is fundamentally improving insurance

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F rom a technological perspective , IoT ( internet of things ) could be amongst the most significant developments in an increasingly digital insurance industry . Ushering in a more transparent , accurate and accountable way of doing business , the ability for insurers to measure the activities of its policyholders to grant cheaper premiums , anticipate operational problems before they become costly and improve the overall level of service received by customers is bringing a truly 21st-century touch to centuries-old processes . To help us understand the transformative effect that IoT has had on the modern insurance industry and where it might lead the future of insurtech , Sean Ringsted , Chief Digital Officer at global insurance provider Chubb , spoke with InsurTech Digital on the topic .

A TRANSFORMATION FOR INSURANCE
Having worked for Chubb for nearly 25 years , Ringsted is well-placed to comment on how IoT is affecting contemporary insurance operations : “ This technology will be truly revolutionary for how
SEPTEMBER 2020