In every sector, businesses are affecting organisational change through digital technologies and business models to improve performance. The insurance sector is well and truly part of this ‘fourth industrial revolution.’
How is Connectivity Shaping Insurance and Risk Management?
IoT technology is challenging risk-management fundamentals and insurance underwriting criteria, as sensors track both human behaviour and machine performance.
In commercial lines, risk management data is increasingly networked and automated in construction, real estate, engineering inspection and marine cargo. In personal lines: IoT is changing the way we look at cars and driving, while personal possessions are increasingly traceable.