How the Internet of Things is Changing the Face of Insurance

 By Catherine Powell

Image courtesy Pixabay

The Internet of Things, otherwise known as IoT, has made huge inroads into our lives.  All kinds of devices from smart TVs and smart locks to smart appliances have made their way into our homes.  Health-tracking smart watches and bracelets are sported by many people like so much automated jewelry.  Every vehicle that rolls off the assembly line worldwide is chock full of sensors, cameras and GPS trackers that are connected to the cloud.  So prevalent have IoT devices become, that it's predicted by 2025 they will outnumber us six to one.  It should come as no surprise that many of the uses of IoT can go far beyond making our lives more convenient.  They can also be used to change the way in which we access insurance.

Are You Ready for the Internet of Things?

By Catherine Powell

Image courtesy needpix

I can still remember back when personal computers were new and ultra-expensive.  Today, everything from my car to my TV is computerized and you can buy a laptop for under $500.  But what’s really scary is the fact that soon a lot of other dumb appliances and apparel are going to be internet-enabled.  If you don’t want to get left in the lurch, you need to learn a little about what is being called the Internet of things or IoT.