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
The data is relatively similar to U.S. data from consumer technology market research firm Parks Associates, which also found Samsung in the lead for the U.S. market, but at a much higher rate of 35%....
In a surprising statistic from new Parks Associates research on connected health, 40% of 18- to 24-year-olds report using a device or app that automatically calls for help in case of an emergency -- c...
Parks Associates Research Director Kristen Hanich said FWA and satellite internet are the "fastest growing" segments in broadband. According to Parks Associates’ newly launched Broadband Market Tra...
Parks Associates today announced a new white paper, Smart Tech for Multifamily Properties: Understanding ROI, developed in partnership with SKBM SmartTech, with insights from recent interviews with mu...
