Providing Market Intelligence for 40 Years

In The News

Research: Homeowners Would Switch Insurance to Those That Offer Smart Device Discounts

Parks Associates’ research study, Insurance Opportunities in the Smart Home, finds that one-third of U.S. internet households with homeowner’s/renter’s insurance would switch providers to acquire smart home devices. The study of 8000 U.S. internet households investigates consumer preferences for IoT devices that can impact insurance premiums or claims and evaluates the opportunity for IoT growth through the insurance channel.

Parks Associates – Insurance Opportunities in the Smart Home

“Insurance is a highly competitive industry, with numerous companies offering similar products,” says Jennifer Kent, VP, research, 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.”

“These collaborations enable insurers to reduce risks, enhance customer engagement, differentiate themselves in the market, and tap into the growing smart home technology sector,” says Kent. “It’s a win-win strategy that benefits the insurance industry and homeowners seeking enhanced protection and peace of mind.”

Parks Associates will share this research and more at its 28th annual CONNECTIONS: The Premier Connected Home Conference, May 7-9, 2024, at the Hilton Dallas/Plano Granite Park in Plano, Texas.

From the article, "Research: Homeowners Would Switch Insurance to Those That Offer Smart Device Discounts"

Previously In The News

Ridesharing Is Making It Harder Than Ever to Commit to a One-Car Relationship

Rising rideshare statistics offer plenty of fodder for utopian predictions of a car-free, community-focused future. But just because we’re using these services doesn’t mean we’re ready to give up on o...

Building the Future of Smart Home Security > Engineers must invent new technology to enhance security products' abilities

It’s nearly impossible to find a household today that doesn’t have at least one connected smart home device installed. From video doorbells to robot vacuums, automated lighting, and voice assistants,...

Can Traditional TV Keep Up In A Digital-First World?

The ongoing disruption was made manifest in the number of consumers tuning into alternate channels: 63% of broadband-enabled households have at least one OTT subscription, according to research from P...

Smart Home Evolution: Elephant in the Room

While I’m eager to watch the unfolding evolution of smart home technologies, with mind-blowing features like voice-enabled technology, machine learning, virtual reality, location services, and demand...

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
Store
View Your Cart
About Us
Overview Team Contact Us Privacy Policy

Follow:

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

Design & Developed By Agency Partner Interactive