IoT Connected Devices in the Home: A Game Changer for Homeowners Insurance

IoT devices provide benefits for carriers in claim control, agent involvement, customer engagement, and rate control.

Boston, September 3, 2020 – The use of connected internet of things devices in the home is growing as more consumers discover the benefits of voice commands, smart appliances, and monitoring systems. They generate constant streams of data that can be used by insurance companies, which present new challenges for carriers. Finding a balance between customer benefit and return on investment will be imperative for carriers, and those capable of leveraging IoT will create a competitive advantage through better rate control, reduced loss exposure, increased customer engagement, and positive agent involvement.

This report is based on interviews and discussions with 29 executives at insurers and technology vendors across North America and Europe. The interviews were conducted between June and July 2020.

This 31-page Impact Report contains 12 figures and nine tables. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Google and Roost.

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