With more than $22 billion in losses recorded annually, fire insurance is burning a hole in the insurance industry’s proverbial pocket. Having used the same approach to assessing public fire protection (PFP) risk for the past 30 years, insurers have failed to evaluate the impact it has on overall loss cost.

Our houses are more than buildings; with the advances in smart home technology, they’re becoming technology centers, all focused on keeping us healthy, safe and protected. It’s an exciting advancement in the personal lines industry – but where should insurers focus their efforts, and how can they keep up with the rapid changes in home technology?