Insurance 2.0 is the evolution of the traditional insurance industry responding to the technological advancements of the Internet of Things (IoT), which are connecting our lives and reducing risk.
The IoT is already playing a significant role in managing risk and reducing and predicting claims — defining insurance 2.0. Connected homes can now use sensors to warn owners of the risk of potential fires or flooding. Driverless cars, which might not be able to eliminate car accidents by themselves, will change the balance of risk management and mitigation.
Doctors can now access data from wearable devices, preventing a serious problem by monitoring patients' activity in real-time and notifying them to adjust their behavior before it has an adverse effect.
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