InsurTech Insider Episode 10: Connected Homes
On today's episode we were joined by a plethora of insurance wizards to discuss Connected homes. Zurich head of market management Arslan Hannani, Cocoon co-founder Colin Richardson, PolicyCastle co-founder Kristian Feldborg and Fing head of business development Patrizia Cozzoli. How are IOT and data going to change a fragmented retail market with regards to insurance?
So what are Connected Homes? The panel begin by actually explaining the concept. How do these smart devices feed information to home owners and to third parties, such as retailers and insurers? More importantly- how comfortable are consumers- in an era where data is starting to become more sovereign, in allowing insurers access to this data?
Next we discuss the benefits and negatives for the consumer. What demographic loses out?
Moving on, the panel talk about consumer awareness. 77% of people have never heard of connected homes- so how does the insurance market create a more trusting image? Is it through education? Or must be wait until IOT becomes part of our daily lives. As Arslan rightly puts it "Netflix wasn't part of our daily lives 5 or so years ago....now it is. In 5 years, we'll be looking back and saying exactly the same about smart homes".
We also bring you a fantastic interview from Head of Innovation at Zurich, Mark Budd, who tells us all about their brand new Innovation Foundry.
Enjoy the show! Don't forget to subscribe so you never miss an episode and leave us a review on iTunes. If you want to get in touch, reach out to us on Twitter @InstechInsiders or email firstname.lastname@example.org.
Special Guests: Arslan Hannani, Colin Richardson, Kristian Feldborg, Mark Budd, and Patrizia Cozzoli.