Simplifying IoT Connectivity for Insurance
Risk assessment and management has been taken to the next level with IoT. Adjusting for behavior has never been more available and the insights derived from this unprecedented data collection is revolutionizing the Insurance Industry.
Choice IoT has the experience and the award-winning CAMPTM platform that empowers IoT Solution Providers to offer the best connectivity, simply managed deployment, while increasing profitability.
Connected Homes: From security to maintenance, IoT helps Insurers in creating detailed risk profiles with home sensors and video. Claims process becomes simple as notification is routed automatically through sensors in real-time.
Usage-based Insurance: Tracking driving patterns with IoT devices fitted to the Insured’s vehicle enables personalization including being able to provide value-added services to customers. As a result, the Insured needs to pay a premium only for the actual distance travelled.
Commercial Insurance: Heavy-duty machines and boiler units are now experiencing the power of Industrial connected devices capable of collecting and transmitting information in real-time. This IoT-enabled approach accumulates new data points at frequent intervals, this, in turn, enables effective risk management and loss minimization practices for Insurers.
Fraud Prevention: Cases of fraud may cost insurers billions of dollars annually and that’s why securing insurance technology solutions is recommended. IoT solutions can help secure data collection and simplify the process of analyzing statistical information.
Better forecasting: Extracting driving habits from their customer base allows insurance companies to take a more predictive approach to set premiums and renewals. This data allows insurance companies to take averages and compare the data to outliers, as well as analyze their specific customers to ensure they renew the proper classification of drivers.
Choice IoT provides custom IoT plans for Insurance applications that simplify your deployments and maximize your bottom line. Get all your connectivity needs with whatever transmission technology your devices use:
- 4G LTE
- Narrow-Band IoT (NB-IoT)
- CAT M1
Choice IoT also provides:
- Carrier Certification Assistance
- CAMP™, award-winning connectivity management platform
- Private APN
Choose Choice IoT as Your Insurance Industry Connectivity Partner Today
To find out more how Choice IoT is simplifying wireless connectivity within Insurance, make an appointment with Choice IoT to learn more!