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

Apple TV 4K: Save your money

But if you must have 4K movies and you already default to iTunes for your movie purchases, then you might as well upgrade to the Apple TV 4K. The device’s high price tag is partially subsidized by App...

Monday in CE: How Smart Home Products are Impacting the Insurance Market

A new report from tech industry research firm Parks Associates looked into how the smart home market is impacting the world of insurance. Specifically, according to Parks, consumers said they’d be wil...

The Impact of Voice Control: From the Smart Home to Connected Entertainment

Smart home adoption continues to be stymied by competing protocols and fragmentation, creating complexity for the end user. This is further intensified by the growing number of connected devices in co...

DirecTV is making an Android-powered streaming box. What gives?

“If (AT&T) had a box that came in at $35 or under, consumers would be interested,” Brett Sappington told me. He’s the senior director of research at Parks Associates, which pays extremely close attent...

‹
1
2
...
582
583
584
585
586
587
588
...
717
718
›