Despite many concerns that incumbent Insurers are reticent to adopt new technologies, the quoted article offers an excellent overview of how pre-existing connectivity can be exploited to the benefit of risk management practices.
If this topic is of relevance to you check out:
Insurance IoT Europe Summit, June 26-27, London
The biggest connected insurance conference in Europe, with 350+ attendees, 50+ speakers and 4 tracks (connected home, connected car, commercial insurance and wearables). Focusing on IoT for customer engagement, the event will explore IoT for product development, automating claims, reducing losses and more. With CXOs and Directors/Heads of R&D, Innovation and Strategy speaking, from the world’s largest insurance companies.
Find out more at http://bit.ly/2mg6jjt
More than 25,000 people a day are impacted by slip-and-fall accidents, leading to claims costs for the insurance industry downstream. Argo Group, a global specialty insurer, wanted to reduce the amount of such accidents in its grocery and restaurant segment. The frequency of these incidents is often attributable to disjointed performance and standards for safety inspections at these locations, according to the company. “Contrary to the popular belief that there’s a lot of fraud, ever since the advent of cameras, there’s actually not that much,” says Rooney Gleason, president of U.S. retail and grocery for Argo Group. “People slip and fall on stuff.” Digital technologies offer a new opportunity for accountability in this sector, Gleason says. His company is working to transform traditional safety inspection strategies by getting away from clipboards and checklists and into the Internet of Things...