Providing market intelligence for more than 35 years

In The News

Smart home devices may lure insureds to new insurers

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

OTT Subs Rise, TV Everywhere Awareness Creeps Up

The number of over-the-top subscriptions has ramped up by 12% over the last two years. That’s the finding of a new research study from Parks Associates reporting that consumer adoption of services lik...

40% Already Use Voice Recognition Software, 70% Satisfied With It

Almost half (40%) of smartphone owners already use voice recognition capabilities from Apple’s Siri, Google Now or Microsoft Cortana, according to a 10,000-person survey of broadband households conduc...

Dish’s Sling Seen Passing 1 Million Users in Cord-Cutting Race

The milestone puts Sling TV ahead of Time Warner Inc.’s HBO Now in total subscribers, according to Brett Sappington, an analyst with Parks Associates, which bases its information on consumer surveys a...

OTT Growth Spreads Across Services

Parks notes that rising stars like Showtime and CBS are making big plays to capture market share in OTT. And MLB.TV has seen increases through partnerships, such as T-Mobile’s offering of a free subsc...