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
And companies are already catching on. Amazon, Apple, and Roku (ROKU) allow consumers to buy individual channels through their platforms that they can pay for through a set billing option and view usi...
However, research firm Parks Associates, in a report earlier this year, pegged overall losses by streaming services from password sharing at $9.1 billion, projecting that the figure will reach $12.5 b...
These devices are proving to be quite popular, too. It’s estimated that the number of video doorbells sold in the U.S. in 2022 will top 5 million, according to the market research companies Parks Asso...
Paul Erickson, research director of entertainment and consumer electronics at Parks Associates, said the “DWTS” move is smart programming and a win for both ABC and Disney+. "They’re looking at ‘Da...
