Register

I agree with the Privacy Policy

In The News

Smart home devices may lure insureds to new insurers

March 27, 2024

home automation

PropertyCasualty360

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

Amazon just announced 5 offerings to shake up the home security market

It also hopes to bring new consumers into the market. The US smart home market has long been plagued by slow growth, largely due to device and platform fragmentation and high prices. However, consumer...

Pay-TV, OTT partnerships shake up competitive landscape

Over a half of US broadband households have a combination of pay-TV and at least one OTT service, Parks Associates found. Also, the research found that approximately 33% of cord-cutters would have sta...

Roku beats Q1 estimates as linear TV dies out

Broadly, Roku has been able to capitalize on the secular viewership shift from linear TV to OTT platforms. In August 2017, Parks Associates found that Roku had a 37% share of the streaming media playe...

PeerLogix sees momentum from demand-side integration

TV audiences have fractured, with over half of US households streaming OTT content daily, according to recent Parks Associates research. Advertisers have followed suit, and 2016 marked the first year...

‹
1
2
...
508
509
510
511
512
513
514
...
732
733
›