Three-Step Plan for Insurance CIOs to Build an Effective IoT Initiative

Published: 04 January 2018 ID: G00328870

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Internet of Things initiatives in insurance are largely focused on customer retention and, at most, risk-based pricing. Insurance CIOs looking to transform key business processes by using IoT will need a defined value proposition, advanced IT capabilities and an extensive partner ecosystem.

Table of Contents

  • Analysis
  • Impacts and Recommendations
    • Use a Clear Value Proposition for IoT Initiatives With the Application of IoT data
      • Auto Insurance
      • Home Insurance
      • Life Insurance
    • Insurance CIOs Need Modern Data Collection and Analytical Capabilities to Handle and Process IoT Data
      • Auto Insurance
      • Home Insurance
      • Life Insurance
    • Insurance CIOs Need Multiple Business Partnerships Within the IoT Ecosystem to Develop Rich Insurance Offerings
      • Auto Insurance
      • Home Insurance
      • Life Insurance
  • Gartner Recommended Reading
© 2018 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartners research may discuss legal issues related to the information technology business, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein are subject to change without notice.

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