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Insurance and the Internet of Things

Explosive growth brings tremendous opportunity for insurers

OVERVIEW

The Internet of Things (IoT) is set to transform the way we work and live. Eighty-one percent of insurance executives believe the IoT and connected insurance will significantly or completely change the industry.

By 2020, an estimated 50 billion devices will connect the 8 billion people on our planet to their cars, homes, communities, medical information and work. This will generate a huge amount of data to be analyzed and monetized.

Insurers that make use of better data and embrace digital transformation will become leaders in the industry. Are you ready?

"46% of consumers will pay more for personalized, real-time services, and they’re willing to share more personal data to get them."

*Accenture’s 2017 Global Distribution & Marketing Consumer Study

WATCH: INSURANCE AND THE INTERNET OF THINGS


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EMBRACE THE OPPORTUNITY

The Internet of Things will provide immense amounts of data that can inform new ways of assessing risk and tailoring pricing. Insurers will be able to obtain better data for claims settlements and develop new, personalized risk protection services. They can also offer safe driving and home incentives. The opportunities are boundless.

To gain competitive advantage, insurers must develop new skills, build their data and analytics capabilities, and create new platforms and ecosystems. Accenture has the vision, the industry knowledge, the skills and the capabilities to help develop and execute the right strategies. Contact us to learn more.

David Regan

John Cusano
Senior Managing Director,
Global Insurance

Fabio Fantauzzi

Fabio Fantauzzi
Managing Director, Connected Insurance, Accenture Digital

Mail to David Regan. This opens a new window.