Monday in CE: How Smart Home Products are Impacting the Insurance Market
A new report from tech industry research firm Parks Associates looked into how the smart home market is impacting the world of insurance. Specifically, according to Parks, consumers said they’d be willing to switch insurance providers if it meant they’d have the opportunity to obtain smart home products as part of a new insurance service.
It’s typical Americanism to want something new and shiny without having to pay for it (embrace it), but according to Parks survey, 40 percent of broadband households in the U.S. with an insurance policy, said they’d be happy to find a new insurance provider in order to get a smart home product or bundle of products.
Insurance companies can use that finding to their advantage, though.