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.
“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"
“A major pain point with ad-based streaming is when the ad repeats too many times or viewers seeing ads they don’t feel are relevant to them,” explained Sarah Lee, a research analyst with Parks Associ...
Ring is now the second-largest seller of security systems in the U.S., according to research firm Parks Associates, and it recently became profitable, Hamren told Bloomberg in May — six years after Am...
In fact, Parks Associates reported that 18% of American dwellings have at least more than half a dozen smart home devices in 2024. From the article, "4 Tips To Make Your PS4 Download Faster" by Qui...
New data from Parks Associates found that the use of free ad-based streaming video services is on the rise, with the number of U.S. internet households that used one of these services in the past 30 d...
