Revolutionizing Home Insurance with IoT Technology
are revolutionizing the Home Insurance.
Date: Wednesday, October 25th , 2023 11:00 AM EST
Revolutionizing Home Insurance with IoT Technology
Smart Connected home devices are rapidly gaining popularity, becoming a commonplace feature in modern homes. From smart thermostats and lighting to security systems and sensors, homeowners are increasingly embracing the benefits of IoT technology. This trend is fueled in part by the development of the Matter protocol, an open-source, secure and interoperable standard that enables smart home devices from various manufacturers to work together seamlessly.
As smart home technology continues to evolve, it presents new opportunities for the insurance industry. The home insurance market is expected to reach $395.04 billion by 2027.
These devices provide valuable data that insurers can use to better understand and manage risk, develop innovative and personalized products. For example, sensors can detect water leaks and smoke, helping to prevent damage and reduce claims. Likewise, smart security systems can help prevent theft and provide critical data for processing claims and underwriting.
The convergence of IoT (Internet of Things) and AI/ML (Artificial Intelligence/Machine Learning) technologies within the home insurance sector holds the promise of transforming the operational landscape for insurance companies. Through the utilization of intelligent devices, instantaneous data, and sophisticated analytics, insurers can elevate their underwriting procedures, reduce risks, and simplify the claims handling process.
During the workshop’s interactive sessions and user-friendly lessons, attendees will gain insight into how smart home gadgets can provide valuable information for risk management, processing insurance claims, and determining insurance coverage.
The convergence of IoT (Internet of Things) and AI/ML (Artificial Intelligence/Machine Learning) technologies within the home insurance sector holds the promise of transforming the operational landscape for insurance companies. Through the utilization of intelligent devices, instantaneous data, and sophisticated analytics, insurers can elevate their underwriting procedures, reduce risks, and simplify the claims handling process.
During the workshop’s interactive sessions and user-friendly lessons, attendees will gain insight into how smart home gadgets can provide valuable information for risk management, processing insurance claims, and determining insurance coverage.
Agenda of the workshop
Outcome of the Workshop
- Gain insights into the latest advancements and trends in IoT-enabled smart home insurance from domain experts.
- Discover new opportunities to leverage the power of IoT and Matter Protocol to create value for your customers and improve your service.
- Understand the challenges and opportunities that lie ahead in leveraging smart home technology for insurance and gain practical knowledge to overcome them.
- Interact with industry and tech experts and gain insights into best practices and opportunities that lie ahead in leveraging smart home technology for insurance and gain knowledge to overcome them.
Who Should Attend?
