Thursday, February 07, 2019

35% of U.S. broadband households with insurance interested in getting proactive risk notices from their insurer

Webcast examines new opportunities for insurers and insurance services in the smart home markets

Parks Associates research finds 40-50% of U.S. broadband households with home or renters insurance are interested in additional insurance services, including 35% who are interested in proactive communication of potential risks. The firm will detail these findings and the market opportunities they create in the webcast “Smart Home and Insurance: Partnerships and Go-to-Market Strategies,” sponsored by Silicon Labs, on Tuesday, February 12, at 1:00 P.M.

Interest in Other Services from Current Insurance Provider | Parks Associates

“A restoration service that repairs damage is the most appealing service among insured households, but there is strong interest in proactive services, which would be enabled by smart home devices and AI capabilities to detect and prevent risk situations,” said Brad Russell, Research Director, Connected Home, Parks Associates. “Our research also shows a ‘halo effect’ among insurers, where customers are more interested in additional services like smart home solutions if they perceive their insurer to be ‘innovative,’ which a company can accomplish by offering and promoting smart home solutions.”

The webcast will feature findings from the new whitepaper “Leveraging Smart Home and IoT for New Insurance Business Models,” now available for download at the Parks Associates site. This whitepaper examines the crossover opportunities for the smart home and insurances sectors in the U.S. and Europe.

“Connected devices are reshaping the way consumers think about many traditional services and how they interact with their service providers,” Russell said. “These trends in consumer expectations, combined with the wealth of data derived from IoT solutions, are opening significant market opportunities for the insurance industry.”

“At Silicon Labs, we strive to simplify smart home IoT solutions for our customers and the entire ecosystem, and to enable new business models to emerge with as little friction as possible to take advantage of these exciting market trends that Parks Associates has highlighted in their research,” said Silvia Madrigal, insurance business development executive at Silicon Labs.

Webcast speakers include:

  • Shawn Barry, VP, Strategic Sales,
  • Silvia Madrigal, Insurance Business Development Executive, Silicon Labs
  • Brad Russell, Research Director, Connected Home, Parks Associates


To register, go to To schedule an interview with an analyst or to request specific research data, please contact Julia Homier at, 972-996-0202.

About Parks Associates: Parks Associates, a woman-owned and woman-led internationally recognized market research and consulting company, specializes in emerging technology solutions serving the consumer and small to medium business (SMB) markets. Celebrating its 35th year in 2021, Parks Associates is a partner to companies navigating the changing consumer technology landscapes through data-driven market insights, extensive consumer and industry intelligence, custom marketing services, and executive networking experiences and conferences.

The company's expertise includes home automation, control systems and security, digital media and platforms, entertainment and gaming, home networks, internet and video services, connected health and independent living solutions, mobile applications and services, support services, consumer electronics, and energy management solutions.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Connected Health Summit, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media.

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