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"
More than 25 percent of U.S. smartphone owners use payment apps at least once a month, according to recent data compiled by Dallas-based research and consulting firm Parks Associates. The firm said...
However, this is a noticeable change from our summer 2016 survey that showed Roku with over 70% of the market share, the Fire TV at just over 33%, and the Apple TV at just 18%. (Note: We did allow our...
The latest Parks Associates study is out, and it has more bad news for traditional pay TV companies. Once again, satellite and cable companies are seeing losses. And it’s not just streaming services t...
Over 50% of U.S. broadband households now watch Internet video on a television screen, according to a new connected entertainment research deliverables by market research firm, Parks Associates. Th...
