Summary
Connected insurance (CI), which incorporates the internet of things (IoT) and sensors, has significant implications for elevating customer experience and simplifying workflows like underwriting processes and claims handling. The adoption and application of CI varies across personal and commercial auto, homeowner, life and health, and small commercial insurance. This report highlights the factors driving consumer adoption of CI; discusses the financial implications of CI for customer experience and the insurance value chain; identifies the headwinds for CI; and provides recommendations for building a CI strategy.
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