The likes of Google and Microsoft are investing billions of dollars in driving an agenda for the connected home. The vision is that the entire home will be a single connected entity, both internally and with an ecosystem of service providers, each of which monitors and reacts to data that’s relevant to itself. This includes the security team, emergency services, and of course the insurer.
The home owner will receive a variety of sensor and surveillance data, from energy consumption levels to alerts and even surveillance video feeds, on his mobile device or any other channel he prefers. As homes become more connected, this creates a range of interesting opportunities to rethink home insurance products and pricing models. That means home insurers should start thinking now about how and where they will play in the emerging ecosystem around the digital home.
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