Insurance on Demand
Understanding how introducing smart devices into your business can lower the risk of claims and the premiums you will need to pay your insurance company.
08/05/2021
https://www.kaspersky.com.au/blog/36c3-immobilizers/25765/
Will an immobilizer save your car from being stolen? Researchers presented a study on the reliability of modern vehicle immobilization systems at the Chaos Communication Congress.
27/04/2021
Future of insurance: Unleashing growth through new business building Insurance should consider building new digital businesses to compete.
Future of Insurance
Insurance is the fine art of mitigating damage to a perceived risk. While emerging technology will reduce risk in certain areas, it will also increase risk in others. At the heart of every insurance policy is a customer making a calculated decision to hedge his or her bets against the probability of disaster. 5G will offer companies the ability to automate probability curves in real time, significantly reducing transaction costs, and opening the door for micro policies that have never been profitable in the past.
Automation will enable the creation and monitoring of micro warranties and micro policies in thousands of niche areas previously deemed unprofitable
Situational risk assessment systems will be monitored in real-time
Automated holographic full-body scan security systems will replace “showing an ID”
Rapid-response drone scanning of households, vehicles, and businesses will take place following every claim
Specially designed drones will conduct client interviews, analyze damage, and issue payment within minutes of someone filing a claim
Increased use of blockchain will enable companies to better assess personal ownership networks and changing valuations in real time
A number of new robot insurance policies will be designed to cover the multi-dimensionality of robot uses
Life-mapping as a process will be used for uncovering a person’s risk patterns - By Futurist Thomas Frey, author of 'Epiphany Z – 8 Radical Visions Transforming Your Future'
Faster, more accurate, less boring
With the IoT industry growing at an accelerating pace and technologies such as 5G fast developing, it is clear that we’re still scratching the surface of the potential that exists. Insurance paperwork is fast becoming a thing of the past and is being replaced by automated processes and always-accessible mobile apps. Sensors are making it easier to calculate risks and adjust policies. Insurers know their customers better and are able to establish much more personal relationships.
All in all, the insurance industry is about to become less confusing and much more pleasant.
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