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The insurance industry is entering a distinct new phase of disruption, driven by the impact of IoT. Over the next five years, IoT has the potential to fundamentally reshape today's mainstream insurance proposition.


  • Ovum's research has found that 67% of insurers believe IoT will have a significant impact on the industry within 36 months, and that insurers believe tech giants such as Amazon present a greater competitive threat than rival carriers.

Features and Benefits

  • Evaluates how the IoT-insurance space will evolve over the next five years and the implications for insurers.
  • Identifies key partner models and strategies required by insurers to enter this space.

Key questions answered

  • How will IoT reshape today's mainstream insurance proposition?
  • What are the key implications, opportunities, and threats for insurers resulting from developments in IoT?

Table of contents


  • Catalyst
  • Ovum view
  • Key messages


  • Recommendations for insurance carriers
  • Recommendations for vendors

Technology is now challenging the way insurance has operated for decades

  • Despite forces for change, the insurance industry has remained essentially the same
  • IoT is a catalyst to a reshaped insurance proposition

IoT will enable risk management services to become a mainstream offering

  • IoT changes the fundamental nature of the mainstream insurance proposition
  • IoT offers insurers a new kind of customer relationship
  • IoT is not the end of "traditional" insurance, but new threats will emerge

Most insurers believe IoT will have a significant impact and attract new entrants

  • "Wait and see" is a rational strategy but carries some risk
  • Insurers see new entrants as a greater threat than their peers

Choice of partnership model is critical

  • A carrier-led model offers control over proposition development
  • Carriers must ensure a "partnership of equals" within an affinity model
  • An IoT platform-led model offers access to a large potential market that is accepting of IoT insurance


  • Further reading
  • Author

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