Search
 

4 areas insurers should doublecheck prior to entering the connected home market

The challenge of jumping into the connected home market might seem daunting, but insurers can start by creating a vision of how to enter the connected home value chain.

By Cindy De Armond, John Mulhall | Updated on June 15, 2015
Service offerings in the connected home market include automated devices and appliances, weather notifications and security measures (Shutterstock/Chesky)

In the first part of this article, we looked at some of the ways insurers are exploring connected home technology to avoid or limit losses. These include using connections to in-home video cameras to perform digital inventories  of the home’s contents–expediting claims filings and making it easier  to remediate losses–and conducting continuous monitoring through connected smoke alarm detectors  and water leakage devices to enable quicker response in case of adverse events. 

As the connected home concept gains ground, however, we see new opportunities for insurers in areas outside the traditional scope of property and casualty underwriting. Insurers seeking to build customer relationships and establish a lasting competitive advantage through differentiation also should be thinking about new service offerings. 

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.