The Internet of Things (IoT) can help the insurance industry make "effective predictions and develop great preventive measures", according to the IoT Worm blog. In a blog post on Thursday, the company said it had developed an app that would allow insurers to track their customers' movements in real time using sensors embedded into smartphones.
The Internet of Things (IoT) can help the insurance industry make "effective predictions and develop great preventive measures", according to the IoT Worm blog. Sensors and communication devices sending granular data from animals, people and vehicles can help improve consumer involvement, while at the same time effectively calculate prices and reduce risks in the agricultural, health and car insurance sectors.