Jan 23, 2018

Smart Technology those are capable to adapt automatically and modify behaviour to fit environment providing data to analyze and infer from, drawing conclusions from rules. It also is capable of learning that is using the experience to improve performance, anticipating, thinking and reasoning about what to do next, with the ability to self-generate and self-sustain.

One of the issues with the insurance sector is lack of contact between the insurance provider and customer. To overcome such issues Smart technology is used, it helps the provider to build relationships between with their insurance customers, aiming to eliminate as many potential issues as possible while removing pain for the consumer and cutting costs for the insurer. It helps to understand what devices consumers currently use and may be interested in using, as well as what incentives insurers need to offer to help persuade them. Hence, it became important for Insurer.

Technology in medical insurance has targeted on solutions to keep consumers healthy and fit, as an instance with the aid of setting specialized activity goals. This leads to customers paying lower premiums and preserving a safer lifestyle, whilst insurers should grow to be paying out substantially much less in claims. For motor insurance efforts have been made to improve poor driving with devices to monitor speed, corners, and braking, while also monitoring car diagnostics to pre-empt breakdowns. For home insurance, the aim is to make the residence as comfortable as feasible – preventing water leakages or fires earlier than any harm is executed and securing against burglaries.


Source: GlobalData

2017 consumer survey report indicates that despite the increasing prominence of smart tech across the insurance sector, consumers are yet to be convinced of the benefits such solutions can offer.

Contents of the Report

  • Table of Contents
  • Executive Summary
  • Health Insurance
  • Motor Insurance
  • Pet Insurance
  • Home Insurance
  • Travel Insurance
  • Appendix

Key benefits of buying this profile include:

  • Understand consumer attitudes towards a range of smart devices across five different personal lines: home, travel, motor, pet, and health.
  • Learn which age groups are most likely to be interested in certain devices.
  • Discover what specific factors both encourage and discourage consumers from using smart technology alongside their insurance products.
  • Read about the key players transforming the five personal lines discussed..

About GlobalData 

GlobalData is a leading provider of global business intelligence including market, competitor, and product and customer information. It provides in-depth research, analysis, data and forecasts through a range of interactive online databases, reports and management briefings. GlobalData has a large team of experienced research and analysis, consulting, and marketing experts. It has a global presence, including key offices in the US, Europe and Asia. The group has over 50 years of experience of delivering market intelligence data and analysis and a highly experienced senior management team.

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