As today’s families fall asleep at night, they rest assured that they are protected from home perils. When thinking about keeping our homes safe, many think of the standard home perils: fire, floods, and burglary. However, as we delve further into the age of technology, many people forget that their homes are susceptible to more than physical perils. Danger can lurk within their phones, computers, and other IoT devices.

Advancements in technology have brought great strength to home security systems, transforming what we once considered an average house into a modern smart home.

Robots – once the subjects of science fiction books, movies and TV programs – are now real-life partners involved in our daily lives in many ways.

Robotic applications are cropping up everywhere to replace an assortment of jobs that
have been performed by humans for decades. Often times, they’re designed to perform a very specific task, allowing them to deliver enhanced productivity, reduced operating costs and decreased error rates. They can be found in various locations and industries, completing repetitive tasks such as assembling orders in a warehouse, harvesting crops on a farm and even preparing meals at a fast-food restaurant.

“Insurtech.” It’s a buzzword that’s ricocheting across the insurance industry. But what does it really mean, and how can regulators and carriers leverage insurtech to support their goals and objectives?

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?

Insurance and technology have been linked together since the papyrus and quill.  While the technology has changed, from paper to electronic, from documents to apps to web-enabled experiences, the functionality provided by technology has always supported the business – and not the other way around.  While the latest technology is being marketed as “transformational” and “disruptive” to insurance, what is often lost is HOW that might take place. And without that, there’s little value in that transformational technology.