Insurers See Value In Smart Home Growth But Ability To Collect Data Continues To Be A Challenge
The smart home market across the globe is booming. Millions of devices are being used for household applications including services like temperature monitoring and leak detection.
Our homes are becoming technical hubs connected by the Internet of Things (IoT), and the value of the data our homes are streaming is enormous. Using smart home devices to understand how a home works and where exposures lie can be extremely valuable for both the homeowner and the insurance carrier or broker.
The problem here is that the connected home market is saturated with devices such that the ability of these devices to seamlessly work together is obstructed. Data is the most valuable with regards to connected technology.
Insurtech firm Plasmatic Technologies has a solution that can help P&C carriers to leverage the IoT assets. Alana Connected Home System, cloud-connected SaaS, harmonizes data from the smart gadgets the owners are using and gives the insurers the opportunity to develop smart products that enhance their services.
This platform assists the customers in living better and having a peace of mind with regard to their home security. It has multiple interfaces including apps. It can send the owners messages about the home situation. It offers solutions like carbon monoxide monitors and water leak detectors.
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