BRISTOL, England--(BUSINESS WIRE)--Enterprise and IoT service Riot, part of Rethink Technology Research, has released a new report entitled “Insurance & the Internet of Things — navigating the emergence of the IoT.”
This 24-page report cites the opinions of major insurance groups worth $100 billions and asks how they plan to navigate the rising Tsunami of change that Insurance will go through as the IoT develops.
It asks and answers the questions about when and where Usage Based Insurance (UBI) will emerge for drivers, whether or not there will be a new technology start-ups growing out of IoT Insurance and evaluates new concepts, such as how insurance companies might handle consumer ‘Data-Sharing,’ and how and in which sectors, that could bring down insurance costs.
The report notes that already Tesla is talking about in-sourcing insurance if the industry continues to keep insurance prices high once self-driving cars reduce the number of accidents on American’s roads and creates falling driving risk. We talk through the implications of Vehicle as a Service (VaaS), and how that might bundle an insurance offering and be marketed entirely by automakers. We ask how might the IoT bring down the cost of Health insurance through the use of wearables and monitored fitness programs.
Will house content insurance be cheaper in an era where you are able to automatically and remotely lock doors and shut windows and prove they were locked, or where water damage from leaks can be avoided by triggering emergency water shut downs remotely – based on sensor alerts.
The insurance industry and car makers in particular, have a lot to talk about, but in the end, will the burden that insurance companies place on society go down over the coming years, or stay right where it is?
This report costs $400 Go here to see purchase options
About Rethink Technology Research
Rethink is a thought leader in OTT video delivery, Internet of Things and 5G. It offers consulting, research papers and forecasts, plus weekly research services; "Wireless Watch" is a major influence among MNOs and their suppliers; "Faultline Online Reporter," studies disruptive changes in media and Riot, offers analysis of Enterprise, Automotive and Utility based IoT.