The future of insurance is going to be defined by connected devices that will provide data in short cycles over an infrastructure channel that will help carriers price products more dynamically and responsively to customers and market needs.
The ecosystem of connected devices will provide insights to predict a future that most insurance carriers did not have the infrastructure to foresee a few decades ago. Today, sensors present an opportunity to manage and prevent risks in an ecosystem, giving it a whole new dimension.
In this whitepaper, we discuss how IoT-connected devices in a connected insurance ecosystem can be leveraged for risk analysis. We will also highlight how data from different sources can be used for analysis and decision making, with insights based on current information vs historic experience.