Internet of Things (IoT) News

Willis Towers Watson, Tech Firm Roost to Form Home Telematics Testing Consortium

Global insurance consultant Willis Towers Watson is partnering with technology firm Roost to establish a claims data sharing consortium to help insurers test the effectiveness of water and fire smart home technologies. The two companies said the consortium will be …

How ‘Exposure Data Tracking’ Is Taking Over Personal Lines Insurance

Today’s insurers want to be there for their customers—literally. With sensors of various kinds in policyholders’ cars, homes and personal devices, “exposure data tracking” is rapidly becoming a competitive imperative in personal lines underwriting and rating. That was the message …

Disruptive Tech Dominates 2nd Annual Efma-Accenture Innovation Awards

Emerging technologies such as artificial intelligence, the internet of things (IoT) and blockchain were prominently featured among the winners of the second annual Efma-Accenture Innovation in Insurance awards. Aimed at showcasing the best examples of insurance technology innovations in multiple …

Driver Privacy at Risk when Telematics Data Stored in the Cloud: Researchers

Drivers’ private information can be compromised when stored in the cloud for usage-based insurance (UBI) programs, according to researchers. Using connected-device, or telematics, functions in vehicles, UBI programs determine a consumer’s or fleet’s insurance premium rate by considering several driving …

RMS Expands Range of ‘Cyber-Physical’ Models for Property Insurers

RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the expansion of its range of cyber models to include a new class of “cyber-physical” models. These include a range of cyber attack scenarios that can cause physical damage to …

Why Predictive Modeling Is Gaining as Fraud Fighting Tool

Declining costs, the availability of cloud storage and the rise of telematics will likely increase predictive analytic adoption rates, according to Dan Donovan, assistant vice president of Claims Solutions at Verisk Insurance Solutions. Though predictive modeling has been used for …

Expect the Unexpected in U.S. Casualty Insurance Market in 2017: Marsh

Insurers and customers are increasingly embracing the Internet of Things but greater reliance on these technologies could bring problems that ripple through an entire connected system. The unintended consequences from greater use of IoT will be a major trend in …

2017 Cyber Risks to Intensify as Hackers Become More Cunning: Report

Top cyber threats during 2017 are expected to include nation state cyber espionage, a rise in data integrity attacks and an increase in attacks harnessing Internet of Things (IoT) devices, according to a report published by Stroz Friedberg, an Aon …

How to Gain ‘Digital Trust’ of Employees in Age of Internet of Things

Employers will need to accept tradeoffs to foster “digital trust” with employees if they want to gather the workplace data necessary to realize the full benefits of the Internet of Things (IoT) and the sharing economy. That’s according to a …

Recent Cyber Attacks Reveal Dangers, Vulnerabilities of Internet of Things

Recent cyber attacks harnessing everyday devices such as cameras, video recorders, printers, routers and speakers are a wake-up call to the hidden dangers of the Internet of Things. The problem for the device makers, though, is that few are well …