Register

I agree with the Privacy Policy

In The News

Smart home devices may lure insureds to new insurers

March 27, 2024

home automation

PropertyCasualty360

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

Previously In The News

3 reasons why your cable bill keeps going up

Between 1995 and 2013, the average price of an expanded basic cable package has increased by 6.1% each year, according to the FCC. Brett Sappington, the director of research at Parks Associates, a...

300MN 4K TVs to be sold by end of 2019

More than 330 million 4K Ultra HD TVs will be sold globally by the end of 2019 according to connected CE research from Parks Associates. That's an increase from just two million in 2013, while the...

Nearly half of Western European broadband homes have smart TV

Research from Parks Associates has revealed that 45% of Western European broadband households own a smart TV. SES-09 Boeing Satellite SystemsGermany is the region's smart TV hot spot with the highe...

Most US broadband homes now watch OTT monthly

The research, from Parks Associates, also found that more than 25% of households use two or more services. "Despite impressive penetration, growth of US OTT services has slowed recently, indicating...

‹
1
2
...
477
478
479
480
481
482
483
...
719
720
›