Iot

Technology plays a key role in meeting customers where they are and capitalizing on market opportunities.

Also: Polly integrates with six mortgage providers; Roostify teams up with Covered.

The World Property and Casualty Insurance Report emphasizes the effects of climate change on the insurance industry.

More publicly available digital information means underwriters have greater access to information on potential risk.

Nationwide recently announced a new partnership and the expansion of another as the company continues to grow its Internet of Things capabilities.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.

As we look ahead, evolving technologies are presenting home and auto owners with new potential risks. Hacking and ransomware, once confined to computer networks, may become an endemic cyber vulnerability for our increasingly connected vehicles and “smart home” devices. Yet many of these same technologies could create new data sources and risk mitigation options for personal lines insurers.

New research from SMA shows that the plans and progress of some transformational technologies are accelerating ahead as others have hit the brakes.

Many of the opportunities that exist now and in the coming year are being shaped by the world around us and the uncertainty created by the pandemic.

It is no surprise that insurers are looking to health tracking technology to create new possibilities for accurate pricing and incentivizing better living.

Only 32% of 2,750 U.S. consumers surveyed by the company in fall 2021 had been offered telematics-based insurance, the company said. Of those that were offered, 49% took the offer, and 64% have stuck with it.

As the effects of the pandemic continue to play out, market activity indicates commercial lines insurers are reprioritizing their tech-oriented projects, with some plans continuing to move forward while others have slowed down.

New research highlights the evolving role of the insurance industry from reimbursements to incentivizing to reduce risk and prevent losses altogether.

Nationwide’s Sarah Jacobs, vice president of personal lines product development, spoke with Digital Insurance about a recent survey on smart home devices and the future of IoT at Nationwide.

In other news: Amerisure implements One Inc ClaimsPay tech; California drivers report distracted driving is getting worse; HSB adds social media income to home cyber protection.

General Manager Amrish Singh on how the company maintains a distinct strategy from the insurance business.

The data and decision-making insights gathered from IoT devices have been revolutionary for insurers, and the potential of this technology is just starting to be realized.

Smart sensors have the ability to offer insurers risk reduction and long-term return on investment in claims reduction while benefiting millions of homeowners.

The Simplisafe system, including HD camera, water and motion sensors, will be provided with eligible policies at no extra charge.

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