The coming IoT revolution: a 6-point plan for life insurers
March 18, 2016 by Warren S. Hersch
In the not-distant future, many of the regular things you use every day — your car, interior lighting, the clothes you wear — will link seamlessly to the Internet. This near-omniscient data connectivity has huge implications, and not just for how consumers live their lives.
The advent of “smart” devices will also avail insurers of opportunities to better tailor their products, achieve operational efficiencies and boost their bottom line. But these gains will only be achieved if they upgrade IT systems and make other changes to keep pace with the revolution underway in consumer technology.
That’s the overarching theme of the “World Insurance Report: 2016” from Capgemini, a global provider of consulting, technology and outsourcing services. Based on a Voice of the Customer (VoC) Survey, the report polled 15,500 individuals in 30 countries, detailing respondents — both millennials’ and non-millennials’ — motivations, habits, preferences and behaviors.
