Insurance and the Smart Home: Applications and New Programs

Property and casualty insurers can manage risk by leveraging smart home products, like smart smoke/CO detectors and water leak detectors, to detect and prevent fires, flooding, and device malfunctions. They also can use IoT sensor data to determine the most competitive premiums, provide great personalization of policies, and engage consumers on a regular basis. This report reviews insurance applications for the connected home, assesses benefits for both insurers and policy holders, explores consumer attitudes toward insurtech solutions, and evaluates paths to market for insurance programs seeking to leverage smart home data. It includes profiles of insurers taking the lead in the insurtech market and the technology providers whose products are making this market evolution possible.

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Publish Date: 1Q 2020

Pages: 40

Authored By:
Brad Russell - Research Director, Connected Home

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