Parks Associates: Nearly One-half of Consumers With Insurance Are Interested in Receiving Additional Services From Their Insurance Provider
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"Forty percent of
Consumers likely to purchase smart home products are also considerably more interested in receiving additional services, including restoration services after damage has occurred. The research firm notes that consumers looking to purchase smart home devices are generally more comfortable with data sharing and likely to recognize the value in data analytics in simplifying and expediting claims processes. Further automation can also relieve consumers of some notification responsibilities in exchange for receiving discounts.
"There are multiple go-to-market strategies for 'insurtech' solutions, from OEM and platform partnerships to device rebates, premium discount incentives, and free devices," Russell said. "These arrangements have significant benefits to insurers as well, from competitive differentiation to expanded service offerings. The race now for both OEMs and insurers is to develop smart home solutions that can manage the data needs within this industry."
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