U.S. Consumer Survey: A Connected-Devices Insurance Roadmap

More than half of consumers using connected devices are interested in earning rewards for sharing data with their carriers: Aite Group report

Boston, MA (May 29, 2019) – Insurance carriers’ customers are purchasing and using connected devices in ever-increasing numbers and generating personal information about themselves and their lives. These connected devices and the data they generate constitute a hidden gem for insurance carriers, which are in search of new ways to engage with customers and maximize retention. But can carriers influence consumers’ decision to share their data? Aite Group’s new report, U.S. Consumer Survey: A Connected-Devices Insurance Roadmap, offers fresh insights into consumers’ willingness to share data with their carriers in exchange for a range of rewards.

“Insurance carriers looking for consumers accustomed to using connected devices and ready to talk about how to use that data will find millions of opportunities to engage with their customers in a customized, highly relevant, and timely manner,” states Greg Donaldson, senior analyst at Aite Group.

This report provides a baseline of U.S. consumers’ use of connected devices and offers fresh insights into consumers’ willingness to share that data with their carriers in exchange for a range of rewards. It will be of interest to insurance companies that want to develop deeper, more meaningful relationships with existing customers.

Consumer interest in insurance rewards program based on information collected from devices connected to the internet

This 46-page Impact Report contains 41 figures and three tables. Clients of Aite Group’s Health Insurance, Life Insurance, or P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.

Click here for the online report summary or to download the table of contents.

This report mentions Amazon, American Express, Apple, Comerica Bank, Fitbit, Green Dot, Google, Mastercard, MetaBank, Netspend/TSYS, Nest, Ring, The Bancorp Bank, Visa, and Walmart.

The report is based on a Q1 2019 Aite Group survey of 766 U.S. consumers who were asked about their thoughts concerning connected devices and technology.

About Aite Group

Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.

Source: Aite Group

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