Providing Market Intelligence for 40 Years

In The News

Smart home devices may lure insureds to new insurers

A research study by Parks Associates evaluated insurance opportunities in smart homes and found that 33% of U.S. households with internet would switch their homeowners or renters insurance provider to access smart home devices and discounts. The study surveyed 8,000 people to evaluate how Internet of Things (IoT) technologies could impact insurance premiums or claims. They found many policyholders want to upgrade their homes and improve safety and security with smart home devices.

“Insurance is a highly competitive industry, with numerous companies offering similar products,” said Jennifer Kent, vice president of research at Parks Associates. “Customers often have multiple options to choose from, making it easier for them to switch to a different insurer. Smart home devices can lure customers from their existing insurance providers and attract customers who are new to the home insurance category.”

Homeowners are recognizing the benefits of these technologies for fire prevention and are willing to switch insurers to access them, according to the Parks study.

From the article, "Smart home devices may lure insureds to new insurers" by Ashley Hattle-Cleminshaw 

Previously In The News

Parks Associates: Security and Smart Home Research for 2017

CE Pro sister publication Security Sales & Integration recently revealed security and smart-home statistics from its annual Residential Market Report. Researched with Parks Associates, and now in its...

What Happens When Amazon Acquires a ‘Real’ Security Company Like Vivint, Guardian or Brink’s?

Professional security dealers report 36% of their alarm systems include networked cameras, according to smart-home research firm Parks Associates. The pros even manage to attach smart thermostats t...

10 Indications 2018 Will be a Big Year for Smart Home Installations

In the period of just one year, big-box retailers including Best Buy, Lowe’s, Apple, Target and Sears, dramatically increased shelf space and visibility for smart-home devices. Even Whole Foods, acqui...

Top 5 Home Tech Trends and Opportunities for 2017: From Voice Control to VR

Parks Associates research indicates 40 percent of U.S. smartphone owners use voice-recognition software, generally eclipsing the use of phones for streaming music to speakers or video to a second scre...

Phone:
972-490-1113
Mailing Address:
2301 West Plano Parkway, Suite 210, Plano, TX 75075
Expertise
Smart Home: Management and Safety Consumer Electronics Connected Health and Wellness Connectivity and Mobility Small-to-medium Business (SMB) MDU
Services
Research Memberships Visibility Memberships Streaming Video Tracker Smart Home and Security Tracker Broadband Market Tracker Channel Analytics
Events
CONNECTIONS™ CONNECTIONS™ Summit/CES Smart Energy Summit Connected Health Summit Future Of Video Smart Spaces
Resources
Press Releases Analyst Blog Parks in the News
About Us
Overview Team Contact Us
Store
View Your Cart

Follow:

© 2023-2026 Parks Associates. All Rights Reserved. Privacy Policy

Design & Developed By Agency Partner Interactive