Experts Agree, A Connected Home To Be As Common As Smartphones Within A Decade
Smart devices are the latest technological trends that have been making the rounds. Just as it seems impossible to realize a lifestyle without mobile phones, in a decade, connected smart homes will be the norm, according to Cocoon’s CEO, Parekh.
As well as helping customers better manage their risks within the home, potentially reducing claims and ultimately insurance premiums, the technology also offers insurers a way to revolutionize their relationships with policyholders, according to Parekh.
Usually, the insurers only get in touch with the customers for home loans when the latter is making a claim. Cocoon says they have a high interaction rate of around 1.5 minutes via their app. By making the interaction much more common, the insurers are able to instill value instead of looking bring price-driven.
The insurers need to offer the customers an integrated proposition when they are dealing with a smart home so as to be able to aid the policyholder in many ways and help them avoid the hassle of making a claim.
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