Smart home and consumer IoT solutions promise significant opportunities for the insurance industry to reduce costs, alleviate risks, deepen customer engagement, and create new services and revenue streams. There are many barriers ahead, but given the tremendous upside, insurance companies have begun attacking these challenges with a multi-tiered strategy. The currency of these opportunities is data, and the level of integration required to realize the insurtech vision and enhance aspects of the insurance business is a huge undertaking.
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