August 16, 2018
Standing in one line with other disruptive technologies, IoT keeps on popping up in discussions here and there as one of the overarching trends. With IoT breaking into insurance, the alliance spawned yet another concept – Insurance of Things, which is driving a new era of digital disruption of the insurance markets. Digitization has raised the bar, and it changes the game dramatically.
For years and years, the insurance industry has been known as a technological dinosaur. Fortunately, the most passionate and forward-thinking visionaries saw technologies a tremendous opportunity rather than a threat. Today, the insurers see a massive window of potential coming from IoT.
The pioneers in InsurTech have been concentrated mainly on vehicle telematics. Insurers want to create solutions working on quintessential technology, combining telematics, military-grade AI, and photogrammetry to name a few. The application that tackles all the existing challenges of the auto insurance industry and much more – is a proponent of a philosophy of safe driving, ...