IOT ’ S PLACE IN AN ONGOING STRATEGY
“ Rising customer expectations in an increasingly digital world are challenging the insurance industry to up its game ”
— Sean Ringsted , Chief Digital Officer , Chubb
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Indeed , the pandemic has provided insurtech in general with a golden opportunity to prove itself , both as a technologically advanced and very necessary solution to modern problems . “ In recent months , we have seen that the use of IoT in buildings has proven to be a valuable virtual watchdog . While they were originally intended to serve as backup to onsite facility staff , sensors have suddenly become the first line of defence ,” he adds .
IOT ’ S PLACE IN AN ONGOING STRATEGY
Although it ’ s a cliche to call data ‘ the new oil ’ at the very least it is highly transformative . This is especially true for insurance , an industry built on the availability of information . “ IoT sensors provide a new dataset that underwriters didn ’ t have before ,”
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