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
“Our computer vision systems are now even better than humans,” Pichai told a crowd of 7,000 people at the Shoreline Amphitheatre during his keynote speech Wednesday morning at Google I/O, the company’...
“Getting consumers to interact with Apple in a whole bunch of different ways helps develop that positive relationship early,” said Jennifer Kent, a director of research at Parks Associates, a Dallas r...
Brad Russell, a senior analyst with the research firm Parks Associates, said only about 7 percent of U.S. homes with broadband Internet service have installed Internet-connected door locks. Device...
Only about 22 percent of U.S. homeowners have a professionally monitored home-security system, and most of those have been installed by the companies, said Parks Associates senior analyst Brad Russell...
