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Internet Of Things In Insurance - Thematic Research
Published on: Jun 2018 | From USD $3995 | Published By: GLOBAL DATA | Number Of Pages: 47
Internet of Things in Insurance - Thematic Research
The IoT is among the most disruptive technologies in the insurance sector. It has the potential to redefine the traditional insurance business model, shifting the focus from merely protection to prevention. Related gains include new revenue streams, claims/risk prevention, and a more intimate and connected relationship with customers.
Through connectivity and constant engagement, insurers can act as a business partner, spreading the risk with their customer. Insurers can move from being a one-off contact during an unpleasant situation to providing regular advice to their clients on risk management and prevention. While investment in IoT can ultimately generate new tailored value propositions, it will require insurers to shape the right strategy and manage the increased risks.
Vendors and managed service providers can offer total support in multiple technology contexts, and those with credentials in adjacent sectors can position themselves equally strongly on as-a-service transformation.
- This report analyses the impact of the internet of things (IoT) on the insurance industry.
- It discusses how IoT is among the most disruptive technologies in the insurance sector.
- It identifies prominent areas in which IoT will impact insurance and the big tech players within this technology theme.
Reasons to buy
- The report highlights some of the big technology players within the IoT theme, classified by value chain segment.
- It identifies the technology trends within the IoT value chain, as well as trends showing how IoT is being implemented across the global insurance sector.
- The report analyses the IoT value chain across four layers - devices, connectivity, data, and control.
- It provides an industry analysis, explaining IoT, its stages of development, its broad market segments, and a competitive analysis.
- The report discusses the impact of IoT on insurance through key recommendations for insurers.
- The report offers a technology briefing, to explain the six big IoT market segments and the IoT value chain as four distinct layers.
Companies Discussed are -
Hong Kong Telecommunications (HKT)
Table of Contents
Technology trends in IoT 4
IoT trends in Insurance 8
VALUE CHAIN 12
Device layer 13
Connectivity layer 14
Data layer 16
App layer 17
INDUSTRY ANALYSIS 18
The standards battle 18
Market size and growth forecasts 22
The four stages of IoT development 25
Competitive analysis 25
Mergers and acquisitions 26
IMPACT OF IOT ON INSURANCE 30
Key recommendations for insurers 31
COMPANIES SECTION 33
Public tech companies 33
Private tech companies 38
Insurance companies 40
TECHNOLOGY BRIEFING 42
The six big IoT market segments 42
Navigating the IoT value chain 44
APPENDIX: OUR THEMATIC RESEARCH METHODOLOGY 46
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
The process usually includes collection and interpretation of market data by using statistical and analytical techniques to support the decision making process.
The report helps in identifying and tracking emerging players in the market and their portfolios, enhances decision making capabilities and helps to create effective counter strategies to gain competitive advantage.
Market research reports provide in-depth analysis about the market conditions and requirements for effective decision making.
The report provides a snapshot of the global market size, segmentation data, marketing growth strategies, market share, export and import information, analysis and forecast of market trends, competition, domestic production, best sales prospects, statistical data, tariffs, regulations, distribution and business practices, end-user analysis, contact points and more.
These research reports include information about competitive strategies, solutions, fact-based research, key takeaways, recommendations, market considerations, emerging business models and market opportunities for multiple segments of an industry.
Market research reports assist in solving business problems and making better decisions to improve business as per the prevalent market trends.
Any person who has the capacity to make decisions for the business must buy the reports. These reports help management in decision making process. Market research helps person to obtain market information from different sources, and in multiple formats. It aims to study supply and demand, analyze data as per geography, age factors, demography, technology, product, psychographic & gender differences, and many other parameters. Access to in-depth market trends helps person to assess the market effectiveness. Some of the multiple techniques used for market research include customer analysis, choice modeling, competition and risk analysis, product research, advertising the research, marketing mix modeling, simulated test marketing, and more.
Market research studies several features of business environment, such as competitors, market structure, government regulations, economic trends, technological advances and financial analysis of companies, industries, and sectors. This helps person in the decision-making process of planning and implementing strategies for their markets.
1. Choose a topic.
2. Make skeleton catalogue.
3. Fill content. As for report content, there are two main information source, Primary and Secondary data collection. Secondary data collectionrefers to information searched from the Internet or data bought from database. Primary data collection refers to information concluded from telephone interview, face-to-face interview, expert’s interview, meeting etc.
4. Audit the report
5. Publish the report.
With regard to information cost, information searching costs the least, database support the second least, and telephone interview the third least. Face-face interview cost higher, in-depth interview much higher and expert interview the highest. A research may adopt all of these approaches, or just some of them.
In general, a good-quality research report needs 1-3 months to be finished. Time and method varies according to different Publishers. Thus, it’s difficult to define an exact procedure or process of making research report. Both time and cost vary. However, specialization has become a basic industry standard. Professional and dedicated products will be more and more popular.
There may be exceptions to this if you place order on a non-working day specifically because our publisher partners are located all over the globe. In case of physical delivery report will be couriered to you within 3 working days from the date of the receipt of payment and delivery time will differ based on your location
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