The Internet of Things (IoT) will change claims and risk forever
The insurance industry has been investing heavily into new technologies, and one particular technology has clearly demonstrated the potential to make a lasting impact at the core of insurance services. We’re talking about the Internet of Things (IoT), a broad term encompassing virtually all physical devices that connect wirelessly to networks and possess the ability to transmit and receive the very thing insurance companies need — data.
In recent years, the industry has witnessed that sensors, smart devices, and connected platforms can actually change its approach from simply being focused on recovery to being proactive in preventing and/or mitigating claims. Additionally, IoT devices can enable insurers to develop more complete and accurate risk profiles for each and every customer.
This insightful white paper from Crawford's Chief Information Officer, Hilton Sturisky, explores the impact of IoT on the insurance industry and examines several key ways in which this technology is changing the game for those who deal in claims and risk.