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"
Google’s Chromecast streaming-TV device didn’t lose ground, but given that it’s only utilized as a streaming TV device by 17% of streaming video viewers — despite launching in 2013 with considerably l...
Using its OTT Video Market Tracker tool, Parks Associates has found that the number of OTT services in the United States has reached nearly 300. The firm said the total is more than double the amou...
“In the past year we keep seeing more and more services coming up, more niche services,” said Glenn Hower, an analyst with market research firm Parks Associates. There’s Netflix, which has been str...
Distributing its video out to its various websites could be a boon to Yahoo. Parks Associates' Brett Sappington predicted that traditional magazines may make a leap to presenting their content via onl...
