U.S. Home Insurance Rewards: Consumers Are Ready for Smart Home Options

Home insurance policyholders are ready to share personal data in order to gain rewards from their insurance carriers.

Boston, April 16, 2020 As insurance carriers focus on building loyalty and trust, a new opportunity is forming through connected home devices. Consumers are discovering the benefits of connected devices with automated thermostats, doorbell cameras, and smart assistants, and are creating data that insurance carriers could use for marketing, rating, and claims handling. Could matching the use of connected devices with rewards programs generate new data streams for insurance carriers?

This report is intended to help carriers design rewards and incentive-based products and programs fitting of the home insurance industry. Based on a Q1 2019 Aite Group online survey of 766 current U.S. policyholders, it provides insights on homeowners and renters insurance policyholders’ ownership and use of connected devices, and their willingness to share this information with their insurance carriers.

This 48-page Impact Report contains 47 figures and one table. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Amazon, American Express, American Family Insurance, Android, Apple, AXA, Beautyrest, Comerica Bank, Contour Next One, Dario, DiamondClean, Ecobee, Fitbit, Fitindex, Google, Green Dot, Honeywell, IBM, iHeart, Intel, Jawbone, Kolibree, Mastercard, MetaBank, Microsoft, Munich Re, MyFitnessPal, MyFoodDiary, Nest, Netspend/TSYS, Nokia, Omron, OnStar, Oral-B, Philips, Polar, QuardioArm, Renpho, Rhythm, Ring, Runkeeper, Samsung, Scosche, Snap ECG, Tacx, The Bancorp Bank, Visa, Walmart, Weight Watchers, Welch Allyn, and Withings.

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