Internet of Things (IoT) News

AmTrust’s TapSafe Covers All of a Consumer’s Connected Devices with a Single App

A property/casualty insurer wants consumers to be able to easily locate and protect all of their tech devices with one app rather than having a warranty or service contract for each device. Specialty insurer AmTrust Financial Services launched its new …

Octo Telematics Buys Usage-Based Insurance Assets of Willis Towers Watson

Octo Telematics, the the London-based provider of telematics for the auto insurance industry, announced it has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson, which was announced on Oct. 11, 2017. The financial details of …

Top Technology Investments of Workers’ Compensation Carriers: Novarica

Workers’ compensation insurers are looking to technology to deliver operating efficiencies, underwriting insights and product development as they navigate a fragmented market with high sensitivity to state regulation, According to technology research and consulting firm Novarica in its latest report, …

Octo Telematics to Buy Usage-Based Insurance Assets of Willis Towers Watson; Partnership Announced

Octo Telematics, the London-based provider of telematics for the auto insurance industry, announced it will acquire the usage-based insurance (UBI) assets of Willis Towers Watson and will create a partnership with the broker to develop insurance products. These UBI assets …

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 …