The Internet of Things has changed the data collection processes .With everything around us being connected there is more in-depth information around personal preferences and our living habits. The insurance companies have a wealth of opportunities available to them with the data collected from wearable devices if they can make good use of the available data. Personal lifestyle and living habits can be a key differentiator while offering insurance products.
Planning The Future With Wearables, IoT, and Big Data
According to Dataconomy , this year's BARC study shows 83% of companies already invested in , or planning future engagement - a 20% increase on Gartner's 2013 calculations. The Internet of Things has changed our data collection processes from computer-bound functions to real-world operations, with newly-connected everyday objects providing in-depth information around individual habits, preferences, and personal stats.