Naval Goel: How Internet of Things May Transform the Insurance Industry

27/09/2015 - 09:53

IOT means any object with a capability to transmit data through Wi-Fi, bar codes, Bluetooth, sensors or radio frequency identification. (source)

Life is unimaginable without smartphones. We are connected to each other in a way we were never before. We rely on it not just to be in touch with family and friends but it has become an indispensable object in our professional lives too.  We are continuously evolving as technology-driven population. Digitization is making the world a smaller place by allowing us to connect and exchange information in no time. This inter-connection of digital information is analyzed and consequently a conclusion is provided as feedback which leads us to a means of control. This internet of things is making our day-to-day processes easier and our lives simpler.