Proactive protection for the connected consumer

IBM® IoT for Insurance can deliver a customized shield of protection to increase customer satisfaction, lower costs and mitigate risk.

The volume of data generated by the Internet of Things is staggering. Insurers need to aggregate and analyze this data proactively to shield people and their property. 

IoT for Insurance

IoT for Insurance collects and analyzes data about the policyholder to help insurers customize shields of protection for each customer.

Lower costs

IBM Watson® Customer Insight for Insurance

Customer retention costs less than acquisition. But interactions with policyholders must be timely, personalized and relevant. With IBM IoT for Insurance, insurers can gather sensor data from the home, car and other sources while applying advanced analytics for insights—leading to higher customer satisfaction, less churn and lower costs.

Improve performance

Cloudy with a chance of mishap

Many claims could be avoided if insurers and policy holders had the right information at the right time. IoT for Insurance uses data generated from connected devices, applying advanced analytics to preempt the potential impacts—and claims—that may result from events like bad weather, health issues, water leaks and car wrecks.

Manage risk

Use advanced analytics for proactive insights that influence critical decisions

Sensor-equipped devices transmit huge amounts of data, but analysis is needed to gain actionable insights. Advanced analytics can identify a policyholder’s risk profile, but also provide valuable feedback. With IoT for Insurance, insurers can use both structured and unstructured data to help policyholders manage a multitude of risks.

Featured product: IBM IoT for Insurance

With IBM IoT for Insurance, insurers can provide holistic protection personalized to the consumer, therefore shifting the very nature of risk. Real-time risk assessments are derived, influencing the behavior of the policyholder.

Resources

      

Blog: IoT for Insurance

Delivering proactive protection for the connected consumer.

Capturing hearts, minds and market share

How connected insurers are improving customer retention.

Harnessing the power of data and analytics for insurance

Gain fresh insights that can be put into action.

Video: IBM Weather Alerts for Insurance

Increase policyholder loyalty and reduce claims.