The Connected Home

To transform their claims operations, insurance companies must evolve from reacting to preventing property damage. One way to move in this direction is that their customers get comfortable with the concept of connected homes.

But the case for the connected home is not clear yet, as demonstrated by a recent report from Walnut Unlimited and Nelson Bostock Unlimited, two marketing agencies from the UK.

It is easy to forget that it takes a long time for any innovation to go mainstream. Indeed, we often do not remember the time when everyday items, like smartphones or streaming, did not even exist.

The Smart Home is a relatively new concept that is getting better with each new technology wave. But better technology is not enough to reach a mainstream audience.

The authors point out that companies must “reconsider how products and even the concept of the Connected Home are communicated”, since “whatever they are doing currently is missing the mark”.

Could insurance companies be the ones that tip the balance towards a wider adoption of the connected home by communicating real-life benefits to their policyholders?

After all, waiting on the sideline and doing nothing is unlikely to be a viable option.