Boston, March 17, 2016 – Insurance companies are increasingly looking into ways to tap into the data generated by the Internet of Things. Insurers’ initial foray into the IoT was in car telematics, but sophisticated insurers are exploring a range of scenarios beyond the connected car, including connected homes, health and lives, infrastructure, factories, and transportation. As they investigate this range of IoT business cases, though, insurers quickly find they lack a single place where IoT data can be aggregated, normalized, analyzed, and made available to their various departments.
This report discusses the opportunities and limitations insurers face with IoT platforms and profiles the platforms from two types of vendors—enterprise IoT platform vendors (Accenture, Concirrus, IBM, LexisNexis, Microsoft, SAP, and Verisk) and specialty IoT platform vendors (Axiros, Ayla Networks, MachineShop, ROC Connect, Telit, and Zonoff). It is based on over 20 Aite Group interviews with IoT platform vendors and insurers conducted between January and February 2016.
This 43-page Impact Report contains eight figures and one table. Clients of Aite Group’s Health Insurance, Life Insurance, or P&C Insurance services can download this report.