Plano, TX – April 4, 2017 – According to research findings released today by NTT DATA, a top 10 global business and IT services provider, 83 percent of U.S. homeowners insurance carriers believe Smart Home and Internet of Things (IoT) technology will attract new property and casualty customers. However, the complete report, “IoT Disruption and Opportunity in the U.S. Insurance Industry,” found that more than two-thirds (68 percent) believe that the inability to gain access to data from Smart Home devices will remain a major hurdle to finalizing carrier programs nationwide.
“While enthusiasm for and investment in the Smart Home ecosystem is high among carriers, major challenges still exist in its evolution,” said Normand Lepine, Senior Practice Lead, Insurance Data and Analytics for NTT DATA. “If carriers are to realize the anticipated benefits of Smart Home technology, they must first lock down the necessary business capabilities for adoption including data analytics and data security, and find partners with proven IoT capabilities to help them prepare to deliver innovative services and products to their homeowner policy holders.”
Key Study Findings
In October 2016, NTT DATA surveyed over 1,000 U.S. homeowners online and more than 100 insurance carrier executives involved in decision-making, budgeting, strategy and execution.
Download a copy of NTT DATA’s research report, “IoT Disruption and Opportunity in the U.S. Insurance Industry.”
View NTT DATA’s IoT research on SlideShare.
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