Internet of Things in Insurance - Thematic Research

Internet of Things in Insurance - Thematic Research

Summary

The IoT is among the most disruptive technologies in the insurance sector. It has the potential to redefine the traditional insurance business model, shifting the focus from merely protection to prevention. Related gains include new revenue streams, claims/risk prevention, and a more intimate and connected relationship with customers.

Through connectivity and constant engagement, insurers can act as a business partner, spreading the risk with their customer. Insurers can move from being a one-off contact during an unpleasant situation to providing regular advice to their clients on risk management and prevention. While investment in IoT can ultimately generate new tailored value propositions, it will require insurers to shape the right strategy and manage the increased risks.

Vendors and managed service providers can offer total support in multiple technology contexts, and those with credentials in adjacent sectors can position themselves equally strongly on as-a-service transformation.

Scope

- This report analyses the impact of the internet of things (IoT) on the insurance industry.
- It discusses how IoT is among the most disruptive technologies in the insurance sector.
- It identifies prominent areas in which IoT will impact insurance and the big tech players within this technology theme.

Reasons to buy

- The report highlights some of the big technology players within the IoT theme, classified by value chain segment.
- It identifies the technology trends within the IoT value chain, as well as trends showing how IoT is being implemented across the global insurance sector.
- The report analyses the IoT value chain across four layers - devices, connectivity, data, and control.
- It provides an industry analysis, explaining IoT, its stages of development, its broad market segments, and a competitive analysis.
- The report discusses the impact of IoT on insurance through key recommendations for insurers.
- The report offers a technology briefing, to explain the six big IoT market segments and the IoT value chain as four distinct layers.


PLAYERS 3
TRENDS 4
Technology trends in IoT 4
IoT trends in Insurance 8
VALUE CHAIN 12
Device layer 13
Connectivity layer 14
Data layer 16
App layer 17
INDUSTRY ANALYSIS 18
The standards battle 18
Market size and growth forecasts 22
The four stages of IoT development 25
Competitive analysis 25
Mergers and acquisitions 26
Timeline 28
IMPACT OF IOT ON INSURANCE 30
Key recommendations for insurers 31
COMPANIES SECTION 33
Public tech companies 33
Private tech companies 38
Insurance companies 40
TECHNOLOGY BRIEFING 42
The six big IoT market segments 42
Navigating the IoT value chain 44
GLOSSARY 45
APPENDIX: OUR “THEMATIC” RESEARCH METHODOLOGY 46


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Case Study: Woodside Energy - Internet of Things (IoT): Learnings from the use of Woodside Energy - Internet of Things (IoT) Case Study: Woodside Energy - Internet of Things (IoT) , a

USD 449 View Report

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