Register

I agree with the Privacy Policy

In The News

Smart home devices may lure insureds to new insurers

March 27, 2024

home automation

PropertyCasualty360

A research study by Parks Associates evaluated insurance opportunities in smart homes and found that 33% of U.S. households with internet would switch their homeowners or renters insurance provider to access smart home devices and discounts. The study surveyed 8,000 people to evaluate how Internet of Things (IoT) technologies could impact insurance premiums or claims. They found many policyholders want to upgrade their homes and improve safety and security with smart home devices.

“Insurance is a highly competitive industry, with numerous companies offering similar products,” said Jennifer Kent, vice president of research at Parks Associates. “Customers often have multiple options to choose from, making it easier for them to switch to a different insurer. Smart home devices can lure customers from their existing insurance providers and attract customers who are new to the home insurance category.”

Homeowners are recognizing the benefits of these technologies for fire prevention and are willing to switch insurers to access them, according to the Parks study.

From the article, "Smart home devices may lure insureds to new insurers" by Ashley Hattle-Cleminshaw

Previously In The News

The Near Future Of Voice Control

Awareness: Voice control of smartphones is building awareness of the potential for voice control of other products, Parks Associates research director Barbara Kraus noted. “Almost 52 percent of iPh...

What The Future Of Smart Home Voice Control Looks Like

For her part, Parks Associates research director Barbara Kraus expects voice control will likely spread to all manner of consumer electronics in homes, cars and on the go. But “at this time, voice tec...

Parks: Many Smart Home Products Used Daily

"Safety and security are the main drivers for consumer interest,” said Parks president Stuart Sikes. Once people get the products home, Sikes added, consumers use them frequently. Among owners of mos...

VR Headset Market Developing: Survey

“VR is an immersive experience, and more is better for gamers — more immersion, better sound, better graphics, and more players,” Kraus said. “The mass market is more likely to adopt mobile VR, which...

‹
1
2
...
551
552
553
554
555
556
557
...
636
637
›