Computers, mobile devices, smart TVs and other connected technology are essential to our personal lives. They can entertain, delight, and connect people and things in new and different ways. We use technology to make our lives easier, safer and more secure.
At the same time, computers, smart phones and other internet-connected home devices create new risks: a reliance on digital information that can be damaged or stolen by a virus or hacker, and computer systems that can be exploited or corrupted by a cyber attack.
|Insurance must evolve
As the demand for new personal technology grows, it will create challenges and opportunities for the insurance industry. In a digital world, where we live and work online, insurance must evolve to cover cyber exposures for people and their homes.
With the proliferation of personal smart phones, high-speed internet and Wi-Fi, homeowners already have the technology to control, with a few clicks, all major appliances, electronic devices, heat, lights, door locks and alarms. In the future, almost every home device will have a "smart" option with remote monitoring that learns about family lifestyles and takes actions to anticipate their needs. Billions of equipment sensors will generate thousands of exabytes of personal data.
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