One-third of U.S. internet-enabled households with homeowner’s/renter’s insurance would switch providers to acquire smarthome devices, a new study shows. Parks Associates’ research study, Insurance Opportunities in the Smart Home, examines 8,000 households to determine consumer preferences for IoT devices that …
Maintaining the safety of workers on a six-story job that spans 60,000 square feet is a daunting task, and a concern for not only the construction firm but also its insurer. A recently announced collaboration between Travelers, Gilbane, a large …
While insurers in the U.S. recognize the impact the data will have on the industry, few currently have an IoT strategy, are collecting IoT data or have dedicated resources in place, according to a new LexisNexis Risk Solutions research. This …
A report released earlier this year by research and advisory firm Novarica highlights how digital opportunities, analytics and the Internet of Things (IoT) are driving changes in claims. Customer service standards set by other industries is contributing to the digital …
Insurers have several concerns when it comes to selecting an Internet of Things provider, according to Dawn Mortimer, assistant vice president IoT/Telematics Claims Product Management for Verisk Insurance Solutions. Insurers also need to consider the challenges associated with offering an …
Though several factors affect a firm’s cyber risk, people remain the critical vulnerability, according to Scott Stransky, assistant vice president and principal scientist with AIR Worldwide. In an audio interview with Claims Journal, he explained the evolving risk and what …
Engaging customers and improved claims processes are the top goals for innovating the claims customer service experience, according to a new survey of 400 insurance executives released by Insurance Nexus. The insurance research and analysis firm found that 78 percent …
Artificial intelligence (AI) and the internet of things (IoT) now account for almost half of total investment in insurance technology (insurtech) startups globally, new research from Accenture shows. The research, which includes new analysis of CB Insights data on 450 …
Cyber hackers bent on chaos could potentially attack water treatment and chemical plants, power grids, financial institutions and disable weapon systems, and have stolen personal data of millions of federal employees and consumers. Every hour of every day, cyber warriors …
Declining cost barriers, the availability of cloud storage and telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk Insurance Solutions. Though predictive modeling has been used for some time …