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Insurance & the Internet of Things – navigating the emergence of the IoT

IoT Insurance –

This 24-page report cites the opinions of major insurance groups worth $100billions and asks how they plan to navigate the rising Tsunami of change that Insurance will go through as the IoT develops.

It asks and answers the questions about when and where Usage Based Insurance (UBI) will emerge for drivers, whether or not there will be a new technology start-ups growing out of IoT Insurance and evaluates new concepts, such as how insurance companies might handle consumer “Data-Sharing,” and how and in which sectors, that could bring down insurance costs.

The report notes that already Tesla is talking about in-sourcing insurance if it continues to keep prices high once self-driving cars reduce the number of accidents on American’s roads and creates falling driving risk. We talk through the implications of Vehicle as a Service (VaaS), and how that might bundle an insurance offering and be marketed entirely by car firms. How might the IoT bring down the cost of Health insurance through the use of wearables and monitored fitness programs.

Will house content insurance be cheaper in an era where you are able to automatically and remotely lock doors and shut windows and prove they were locked, or where for water damage from leaks can be avoided by triggering emergency water shut downs remotely.

The insurance industry and car makers in particular, have a lot to talk about, but in the end, will the burden that insurance companies place on society go down over the coming years, or stay right where it is?


1). Introduction  p.3

Abstract  p.3

Introduction  p.3

The rise of IoT Technologies p.4


2). Automotive p.6

Mitsubishi & LexisNexis p.7

Octo Telematics p.7

Automatic & American Family Insurance p.8

Scope Technologies, Renault & Groupama p.8

Tesla & the threat of bundling p.9


3). Health and Consumer p.12

Qualcomm & UnitedHealthcare p.13

Vitality & Apple Watches p.14

Anthem & Data Breaches p.15


4) Industry IoT Consensus – a Panel Discussion p.17

UBI p.17

Data-Sharing p.18

Data Access Negotiations p.19

Impact of UBI p.19

Regulation p.21

Startups and Investment p.21

Discriminatory Pricing – the end of bad risk? p.22

Industry Confidence p.22