DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "IoT Insurance Market - Global Forecast to 2022" report to their offering.
The global IoT insurance market is estimated to grow at a CAGR of 65.89% to reach USD 42.76 Billion by 2022.
The growing adoption of Internet of Things (IoT) products in developed and developing economies, growing demand for cloud platform and other value-added services in the insurance industry are the major drivers for this market. The IoT-enabled devices provide intelligent data for insurers to help them track health, detect abnormalities, and reduce risks for policyholders. The real-time assessment of data would increase the relationship between the insurers and policyholders.
Most of the automotive insurance industries offer usage-based insurance for drivers and car owners. The IoT-based devices such as in-vehicle sensors, global positioning systems, and other on-board devices generate informative data for insurance industry. Data such as speed, acceleration, and distance driven is collected by insurers and is used to accurately access premium policies and reduce frauds.
Additionally, the policyholders are able to get rewards for good driving behavior and improve the driving habits. Hence, IoT would be able to reduce the cost of premiums and strengthen customer relationships. The adoption of telematics in UBI enhances the underwriting process and speed up the insurance claim process.
Companies Mentioned:
- Accenture Plc
- Allianz Se
- American Family Insurance
- American International Group, Inc.
- Axa Insurance
- Berkshire Hathaway Inc.
- Cisco Systems Inc.
- Concirrus
- Google Inc.
- International Business Machines Corporation
- Lexisnexis
- Microsoft Corporation
- Oracle Corporation
- Sap Se
- Verisk Analytics, Inc.
- Zonoff, Inc.
- Zurich Insurance Group Ltd.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Industry Trends
6 Iot Insurance Market, By Insurance Type
7 Iot Insurance Market, By Insurance Application
8 Iot Insurance Market, By Geography
9 Competitive Landscape
10 Company Profile
11 Insurance Companies Outlook
For more information about this report visit http://www.researchandmarkets.com/research/72zq3n/iot_insurance
