Friday, December 15, 2017

Impacts of information technology in insurance industry

Impacts of information technology in insurance industry

Increased Use of Internet of Things By Insurers:

Decline in the cost of sensors, improved communication methods and increased data processing power have enabled the widespread use of the Internet of Things (IoT).



The data transmitted by IoT can be further analysed using data processing techniques for useful insights.in the insurance industry, the property and casualty (P&C) line of business was the first to adopt IoT in the form of vehicle telematics and other forms of it such as connected home technologies and wearables[6] have a slower rate of adoption, but they are expected to have widespread adoption in the future.
Post a Comment