New data from Parks Associates (www.parksassociates.com)p says 51% of U.S. broadband households find an IoT [Internet of Things] device that alerts them to smoke and fire highly appealing, and 41% find a device that alerts them to a water leak to be highly appealing.
The research group notes these smart home use cases would benefit insurance companies in both saving costs and adding value to their customers. lso, 38% of U.S. broadband households have very strong intentions to buy a smart home device in 2016.
“The insurance industry is quickly emerging as a key player in multiple smart home ecosystems,” said Tom Kerber, director, Research, Home Controls & Energy, Parks Associates. “The advanced detection and alert capabilities in smart home devices give insurance companies new and innovative ways to avoid risks and reduce fire or water damage. State Farm and Liberty Mutual have both announced plans to offer incentives or discounts to customers to encourage adoption of smart home devices.”