The document discusses how the Internet of Things (IoT) will disrupt the property and casualty (P&C) insurance industry through connected devices and sensors that generate vast amounts of data. It identifies opportunities for insurers, including using data to better understand customer risks and behaviors, improving core business models, and developing new customer value propositions. Insurers need to prepare for IoT by partnering with emerging companies, developing new offerings, and using data to differentiate themselves as the industry becomes more commoditized.
Insurance, Gen Y and Internet of Things: World Insurance Report 2016 InfographicCapgemini
The evolution of the Internet of Things, combined with changing behaviors and preferences from Gen Y customers, is pushing the insurance industry toward massive disruption. This year’s Report explores how these trends are driving an urgent need for insurers to transform or risk falling behind new competitors.
Insurers are exploring the blockchain as they see vast potential in this new technology, most common research topics being : travel insurance and crop insurance. With crop insurance : If the bad weather causes any damage to the crops then a smart contract can confirm the loss using weather data and pay claims automatically. Similarly, in case of travel insurance, if the flights gets cancelled by the airline due to a covered reason, then a smart contract built using blockchain technology could automatically enact payment to those with insurance.
7 Ways Insurance Brokers Should Approach InsurTechSiren Group
“InsurTech” is a term used quite often these days – a spin-off of the even more popular word “FinTech.” It refers to technologies and platforms. These platforms can help optimize any of the principles for success or requirements of insurance.
InsurTech encompasses companies that provide insurance, but engage technology in a user-centric way.
Here are 7 ways of making InsurTech the heart of your business:
The insurance industry has remained much the same for more than 100 years, but over the past decade it has seen a number of exciting new innovations and new business models.
The Insurance Reporting Challenge: Building an Integrated FrameworkAccenture Insurance
The reporting component of Solvency II has become a major concern for insurance companies operating in Europe. Solvency II Pillar III increases reporting requirements in terms of volume, frequency, timeliness and complexity. These, in turn, have a direct bearing on insurers’ data, processes, methodologies and organization. The pressure put on insurers to enhance their reporting calls for a revamped closing and reporting framework where integration is part of the approach. Beyond the new Solvency II requirements, reporting, in our view, remains a pressing issue at the global level.
The paper provides a concrete and pragmatic view of the smart home opportunity for insurers: a deep-dive into key aspects of the smart home trend, the implications for the US home insurance market, and into customer preferences. The paper concludes with a list of “must-have” elements for an insurer in order to deliver the promise of a smart home value proposition.
Insurance, Gen Y and Internet of Things: World Insurance Report 2016 InfographicCapgemini
The evolution of the Internet of Things, combined with changing behaviors and preferences from Gen Y customers, is pushing the insurance industry toward massive disruption. This year’s Report explores how these trends are driving an urgent need for insurers to transform or risk falling behind new competitors.
Insurers are exploring the blockchain as they see vast potential in this new technology, most common research topics being : travel insurance and crop insurance. With crop insurance : If the bad weather causes any damage to the crops then a smart contract can confirm the loss using weather data and pay claims automatically. Similarly, in case of travel insurance, if the flights gets cancelled by the airline due to a covered reason, then a smart contract built using blockchain technology could automatically enact payment to those with insurance.
7 Ways Insurance Brokers Should Approach InsurTechSiren Group
“InsurTech” is a term used quite often these days – a spin-off of the even more popular word “FinTech.” It refers to technologies and platforms. These platforms can help optimize any of the principles for success or requirements of insurance.
InsurTech encompasses companies that provide insurance, but engage technology in a user-centric way.
Here are 7 ways of making InsurTech the heart of your business:
The insurance industry has remained much the same for more than 100 years, but over the past decade it has seen a number of exciting new innovations and new business models.
The Insurance Reporting Challenge: Building an Integrated FrameworkAccenture Insurance
The reporting component of Solvency II has become a major concern for insurance companies operating in Europe. Solvency II Pillar III increases reporting requirements in terms of volume, frequency, timeliness and complexity. These, in turn, have a direct bearing on insurers’ data, processes, methodologies and organization. The pressure put on insurers to enhance their reporting calls for a revamped closing and reporting framework where integration is part of the approach. Beyond the new Solvency II requirements, reporting, in our view, remains a pressing issue at the global level.
The paper provides a concrete and pragmatic view of the smart home opportunity for insurers: a deep-dive into key aspects of the smart home trend, the implications for the US home insurance market, and into customer preferences. The paper concludes with a list of “must-have” elements for an insurer in order to deliver the promise of a smart home value proposition.
Being connected has become the talk of the town and insurance companies are surely one of the main interested parts in this discussion, some of them being actual promoters of change and innovation. Traditional players will have a more tough time in adapting to the new paradigm but my view is that they will have to adjust on the long term to the new rules of the game if they want to stay competitive.
Consumers are becoming more and more connected whether it is at home, at work, behind the wheel, when they engage in sports & leisure activities and so on. This is happening quite fast due to the adoption of smart devices and thus the companies have to be able to react accordingly in order to maximize value both for its clients and for itself. The surrounding environment is becoming smart and is being incorporated in the connected ecosystem thus creating new opportunities for insurance companies, opportunities which must be managed appropriately in order to maximize value. Here big data analytics plays a huge role, as the number of collected data & variables is getting higher and higher. To be precise, the discussion focuses on how companies will be able to read the data in order to identify patterns and optimize their business models by controlling loss, perfecting risk assessment and prevention etc.
Accenture Distribution and Agency Management Survey: Reimagining insurance di...Accenture Insurance
The global Distribution & Agency Management Survey draws insights from 400+ insurance distribution executives about connected devices, data and analytics, agent compensation and more. The research covers topics such as the customer experience, channel optimization, the changing role of agents and the Internet of Things, among others and how digital is affecting insurance distribution and customer interactions.
Blockchain technology will make a shift of tectonic proportions in the Insurance and Financial Services Industry. It will change industry’s business model, reorganize relationships, revolutionize existing revenue channels and value creation models. The new eco-system based model will be created, with new principles of value creation, with reformatted customer engagement experiences and with value added business relationships. Industry operations will undergo dramatic change, shifting away from service and request fulfilling activities, to transaction management and orchestration of eco-system activities.
Technology and Innovation in Insurance– Present and Future Technology in Indi...Dr. Amarjeet Singh
Insurance companies are unique — most of their interactions with customers happen through an agent. In effect, a chunk of technology investment goes into improving agent experience. Insurers have developed systems to advise agents on products tailored for specific customers, depending on their history with the insurer and income band. Bajaj Allianz Life Insurance has a mobile app to hire agents. This helps in training, exams and licensing. It has brought on board 15,700 consultants digitally in the past year, cutting down processing time by half.
Insurers have launched mobile phone apps, making it easier for customers to transact with them. They are, slowly and surely, moving towards paperless claims as well. These are, however, only the first steps in digital transformation. Changing core systems is expensive and complicated. So, most transformation initiatives focus on improving systems of engagement with customers.
With the constant advancements and better use of digital tools in the last few years; most of these challenges seem to be addressed efficiently. While technologies such as Robotic Process Automation (RPA), Artificial Intelligence (AI), Block chain, and Advanced Analytics are working as promoters to enhance the importance of insurance, the insurers are working hard to create a more streamlined and integrated insurance system.
Accenture research reveals how transforming to a living business enables insurance companies to achieve sustainable growth through hyper-relevance. To learn more visit: https://www.accenture.com/us-en/insights/insurance/living-business
The IoT Insurance Observatory is a four year old think tank specialized in insurance IoT
The Observatory generates and promotes innovation in the insurance sector: representing the cutting edge of global innovation; offering a strategic vision to exploit the insurance IoT full potential; stimulating research and debate between the participants.
New survey finds that over 50% of companies will increase investments in the Internet of Things over the next two years. How is this transforming business models? This infographic recommends the three actions companies should take to prepare for a future with the IoT. Find out more here: http://bit.ly/1RgN17w
Digital disruption in the insurance sector in indiaPrayukth K V
The Insurance sector in India will see massive digital disruption dislodging conventional business and customer engagement paradigms in the years to come...find out more
Please find here our first Insurance Review on Digital Disruption of the Insurance sector. We've put together the best, most shared and liked articles on this topic. All articles have been published before on our Financial Services blog
The first think tank dedicated to the Connected Insurance (Telematics & Insurance IoT), the most relevant insurTech trend (representing around 80% of the $16,5B invested on IsurTech globally as of today)
I'm pleased to share the first Singapore InsurTech Landscape. The focus is on the start-ups founded in SG, as well as those with regional HQs or major projects (such as Collab). Hats off to a vibrant ecosystem!
Please note that landscapes are living documents. Feel free to DM me on LinkedIn to agree, disagree or add your start-up to the landscape!
ACES Q3 2020 Mortgage QC Industry Trends ReportRomina Cusenza
ACES’ Mortgage QC Industry Trends Report represents an analysis of nationwide quality control findings based on data derived from the ACES Analytics benchmarking software.
CII-EY report titled Insurer of the Future reveals that technology will power the new wave of change for the Indian Insurance Industry. The report recommends pursuing technology to improve the traditional insurance process and to re-configure the insurance business model.
A survey created by InsurtechNews in collaboration with InsurTech 2016 Singapore, involving over 120 respondents. Based on the answers collected, the most relevant area of Insurtech is Connected Insurance and this is not surprising at all. According to a preliminary release of a study jointly developed by Venture Scanner together with the Connected Insurance Observatory, connected insurance initiatives represent 30% of start-ups but have gathered an astonishing 80% of insurtech funding. Online purchases continue to be deemed as very relevant although such promise is everything but new and has yet to materialize. Things may change though if the new purchase innovation is push sales...
Unsurprisingly, respondents also indicated that insufficient knowledge and understanding of the insurance market is the most important challenge for InsurTech start-ups and creates an imperative for collaboration between incumbents and start-ups. The second barrier is the incapacity to engage and partner with incumbents. This point confirms the importance of all open innovation initiatives of the last few months: from hackathons to co-creation labs, from incubators to accelerators. They are all fundamental to allow start-ups to access incumbents and vice-versa.
Are you ready to be an Insurer of Things? How the Internet of Things is chang...Accenture Insurance
The traditional business model for insurance, though still a tremendous source of revenue, is becoming less sustainable in the long term due largely to the rapid innovation that the Internet of Things is driving throughout the economy. Yet, in the midst of this disruption there is opportunity. Insurers will need to dramatically reshape their business model, combining insurance with technology, ecosystem services and partners.
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
Being connected has become the talk of the town and insurance companies are surely one of the main interested parts in this discussion, some of them being actual promoters of change and innovation. Traditional players will have a more tough time in adapting to the new paradigm but my view is that they will have to adjust on the long term to the new rules of the game if they want to stay competitive.
Consumers are becoming more and more connected whether it is at home, at work, behind the wheel, when they engage in sports & leisure activities and so on. This is happening quite fast due to the adoption of smart devices and thus the companies have to be able to react accordingly in order to maximize value both for its clients and for itself. The surrounding environment is becoming smart and is being incorporated in the connected ecosystem thus creating new opportunities for insurance companies, opportunities which must be managed appropriately in order to maximize value. Here big data analytics plays a huge role, as the number of collected data & variables is getting higher and higher. To be precise, the discussion focuses on how companies will be able to read the data in order to identify patterns and optimize their business models by controlling loss, perfecting risk assessment and prevention etc.
Accenture Distribution and Agency Management Survey: Reimagining insurance di...Accenture Insurance
The global Distribution & Agency Management Survey draws insights from 400+ insurance distribution executives about connected devices, data and analytics, agent compensation and more. The research covers topics such as the customer experience, channel optimization, the changing role of agents and the Internet of Things, among others and how digital is affecting insurance distribution and customer interactions.
Blockchain technology will make a shift of tectonic proportions in the Insurance and Financial Services Industry. It will change industry’s business model, reorganize relationships, revolutionize existing revenue channels and value creation models. The new eco-system based model will be created, with new principles of value creation, with reformatted customer engagement experiences and with value added business relationships. Industry operations will undergo dramatic change, shifting away from service and request fulfilling activities, to transaction management and orchestration of eco-system activities.
Technology and Innovation in Insurance– Present and Future Technology in Indi...Dr. Amarjeet Singh
Insurance companies are unique — most of their interactions with customers happen through an agent. In effect, a chunk of technology investment goes into improving agent experience. Insurers have developed systems to advise agents on products tailored for specific customers, depending on their history with the insurer and income band. Bajaj Allianz Life Insurance has a mobile app to hire agents. This helps in training, exams and licensing. It has brought on board 15,700 consultants digitally in the past year, cutting down processing time by half.
Insurers have launched mobile phone apps, making it easier for customers to transact with them. They are, slowly and surely, moving towards paperless claims as well. These are, however, only the first steps in digital transformation. Changing core systems is expensive and complicated. So, most transformation initiatives focus on improving systems of engagement with customers.
With the constant advancements and better use of digital tools in the last few years; most of these challenges seem to be addressed efficiently. While technologies such as Robotic Process Automation (RPA), Artificial Intelligence (AI), Block chain, and Advanced Analytics are working as promoters to enhance the importance of insurance, the insurers are working hard to create a more streamlined and integrated insurance system.
Accenture research reveals how transforming to a living business enables insurance companies to achieve sustainable growth through hyper-relevance. To learn more visit: https://www.accenture.com/us-en/insights/insurance/living-business
The IoT Insurance Observatory is a four year old think tank specialized in insurance IoT
The Observatory generates and promotes innovation in the insurance sector: representing the cutting edge of global innovation; offering a strategic vision to exploit the insurance IoT full potential; stimulating research and debate between the participants.
New survey finds that over 50% of companies will increase investments in the Internet of Things over the next two years. How is this transforming business models? This infographic recommends the three actions companies should take to prepare for a future with the IoT. Find out more here: http://bit.ly/1RgN17w
Digital disruption in the insurance sector in indiaPrayukth K V
The Insurance sector in India will see massive digital disruption dislodging conventional business and customer engagement paradigms in the years to come...find out more
Please find here our first Insurance Review on Digital Disruption of the Insurance sector. We've put together the best, most shared and liked articles on this topic. All articles have been published before on our Financial Services blog
The first think tank dedicated to the Connected Insurance (Telematics & Insurance IoT), the most relevant insurTech trend (representing around 80% of the $16,5B invested on IsurTech globally as of today)
I'm pleased to share the first Singapore InsurTech Landscape. The focus is on the start-ups founded in SG, as well as those with regional HQs or major projects (such as Collab). Hats off to a vibrant ecosystem!
Please note that landscapes are living documents. Feel free to DM me on LinkedIn to agree, disagree or add your start-up to the landscape!
ACES Q3 2020 Mortgage QC Industry Trends ReportRomina Cusenza
ACES’ Mortgage QC Industry Trends Report represents an analysis of nationwide quality control findings based on data derived from the ACES Analytics benchmarking software.
CII-EY report titled Insurer of the Future reveals that technology will power the new wave of change for the Indian Insurance Industry. The report recommends pursuing technology to improve the traditional insurance process and to re-configure the insurance business model.
A survey created by InsurtechNews in collaboration with InsurTech 2016 Singapore, involving over 120 respondents. Based on the answers collected, the most relevant area of Insurtech is Connected Insurance and this is not surprising at all. According to a preliminary release of a study jointly developed by Venture Scanner together with the Connected Insurance Observatory, connected insurance initiatives represent 30% of start-ups but have gathered an astonishing 80% of insurtech funding. Online purchases continue to be deemed as very relevant although such promise is everything but new and has yet to materialize. Things may change though if the new purchase innovation is push sales...
Unsurprisingly, respondents also indicated that insufficient knowledge and understanding of the insurance market is the most important challenge for InsurTech start-ups and creates an imperative for collaboration between incumbents and start-ups. The second barrier is the incapacity to engage and partner with incumbents. This point confirms the importance of all open innovation initiatives of the last few months: from hackathons to co-creation labs, from incubators to accelerators. They are all fundamental to allow start-ups to access incumbents and vice-versa.
Are you ready to be an Insurer of Things? How the Internet of Things is chang...Accenture Insurance
The traditional business model for insurance, though still a tremendous source of revenue, is becoming less sustainable in the long term due largely to the rapid innovation that the Internet of Things is driving throughout the economy. Yet, in the midst of this disruption there is opportunity. Insurers will need to dramatically reshape their business model, combining insurance with technology, ecosystem services and partners.
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
Tech scouting in Banking & Insurance Project.pptxGiorgia Zunino
This is the final report for Mastre in Fintech and Digital Transformation at LUMSA about innovation team tech scouting for insurtech startups. The analysis process was set up in 5 different steps and worked as following:
Panoramic view of Insurance market and last years trends
Identification of needs and issue about Insurance market and what industry is working on
Selection of 4 startups which are working on technology related to insurance new waves
Description of the chosen startups and the tech features involved
Our consideration about different aspects improvements:
Shaping the right strategy, managing thebiggest risk.Until recently, the Internet of Things (IoT) was on the strategic agenda of only the largest and most progressive insurers. The IoT was largely viewed as a futuristic concept, and many insurers adopted a “wait and see” attitude.
Stand on the Sidelines, or Boost Competitiveness? How to Make Bold Moves on t...Accenture Insurance
Sweeping changes across consumer behavior, technology innovations and big data are reshaping traditional insurance business models and what it takes to compete. The most successful insurers are the ones that will proactively adapt their game plan to the evolving environment and rules of competition. This piece explores three strategies to better position insurers for the future.
Engineering the Next-Gen Digital Claims Organisation for Australian General I...Cognizant
In recent years, insurers have invested in technology platforms and process improvements to improve
claims outcomes. Leaders will build on this foundation across the claims landscape, spanning experience,
operations, customer service and the overall supply chain with market-differentiating capabilities to
achieve sustainable results.
Reshaping Underwriting Landscape With Focussing On CX – WhitepaperIndusNetMarketing
80% of customers lost interest in buying life insurance due to the poor underwriting process. These top 3 strategic solutions are imperative to enhance CX.
Optimizing the Internet of Things: Key Strategies for Commercial InsurersCognizant
The Internet of Things (IoT) is having a significant effect on both consumer-facing and commercial enterprises. At the consumer level, this can be seen in the increasing number of sensor-based smart devices flooding the marketplace. Yet the biggest economic impact is in the industrial and service-based segments, including commercial insurance. By aligning their business requirements with the capabilities of the Internet of Things, insurers can sharpen operational efficiencies, open new revenue streams, drive profitable growth and keep customers close.
Etude PwC "Insurance 2020" : dommage et digital (2014)PwC France
http://bit.ly/AssuranceEnLigne
Pour les compagnies d’assurance, multiplier les échanges numériques avec les clients est un élément essentiel pour les fidéliser et se différencier des concurrents. C’est ce que révèle le rapport de PwC "Insurance 2020: The digital prize – Taking customer connection to a new level". Le cabinet d’audit et de conseil a interrogé plus de 9 000 consommateurs dans le monde, dont 500 français.
Why Mobility Matters to U.S. P&C InsurersCognizant
Insurers that holistically embrace mobility to improve customer service and internal operations can gain competitive advantage, even in a difficult economy.
The slides depict the Top five trends in the Insurance Industry in the year 2020. Go through these trends so you can plan your insurance policies accordingly.
https://www.goodison.com/
Catching the Consumer Data Wave: A New Opportunity in the Insurance EcosystemCognizant
With the profusion of insurance consumer data coming online, the role of data intermediaries is emerging as a key player in the insurance ecosystem. Insurance distributors are especially well-suited to take the lead in analyzing leveraging user data and sharing insights to drive innovative product offerings and growth.
Similar to Internet of things opportunity for insurers (20)
Connector Corner: Automate dynamic content and events by pushing a buttonDianaGray10
Here is something new! In our next Connector Corner webinar, we will demonstrate how you can use a single workflow to:
Create a campaign using Mailchimp with merge tags/fields
Send an interactive Slack channel message (using buttons)
Have the message received by managers and peers along with a test email for review
But there’s more:
In a second workflow supporting the same use case, you’ll see:
Your campaign sent to target colleagues for approval
If the “Approve” button is clicked, a Jira/Zendesk ticket is created for the marketing design team
But—if the “Reject” button is pushed, colleagues will be alerted via Slack message
Join us to learn more about this new, human-in-the-loop capability, brought to you by Integration Service connectors.
And...
Speakers:
Akshay Agnihotri, Product Manager
Charlie Greenberg, Host
Dev Dives: Train smarter, not harder – active learning and UiPath LLMs for do...UiPathCommunity
💥 Speed, accuracy, and scaling – discover the superpowers of GenAI in action with UiPath Document Understanding and Communications Mining™:
See how to accelerate model training and optimize model performance with active learning
Learn about the latest enhancements to out-of-the-box document processing – with little to no training required
Get an exclusive demo of the new family of UiPath LLMs – GenAI models specialized for processing different types of documents and messages
This is a hands-on session specifically designed for automation developers and AI enthusiasts seeking to enhance their knowledge in leveraging the latest intelligent document processing capabilities offered by UiPath.
Speakers:
👨🏫 Andras Palfi, Senior Product Manager, UiPath
👩🏫 Lenka Dulovicova, Product Program Manager, UiPath
DevOps and Testing slides at DASA ConnectKari Kakkonen
My and Rik Marselis slides at 30.5.2024 DASA Connect conference. We discuss about what is testing, then what is agile testing and finally what is Testing in DevOps. Finally we had lovely workshop with the participants trying to find out different ways to think about quality and testing in different parts of the DevOps infinity loop.
Transcript: Selling digital books in 2024: Insights from industry leaders - T...BookNet Canada
The publishing industry has been selling digital audiobooks and ebooks for over a decade and has found its groove. What’s changed? What has stayed the same? Where do we go from here? Join a group of leading sales peers from across the industry for a conversation about the lessons learned since the popularization of digital books, best practices, digital book supply chain management, and more.
Link to video recording: https://bnctechforum.ca/sessions/selling-digital-books-in-2024-insights-from-industry-leaders/
Presented by BookNet Canada on May 28, 2024, with support from the Department of Canadian Heritage.
State of ICS and IoT Cyber Threat Landscape Report 2024 previewPrayukth K V
The IoT and OT threat landscape report has been prepared by the Threat Research Team at Sectrio using data from Sectrio, cyber threat intelligence farming facilities spread across over 85 cities around the world. In addition, Sectrio also runs AI-based advanced threat and payload engagement facilities that serve as sinks to attract and engage sophisticated threat actors, and newer malware including new variants and latent threats that are at an earlier stage of development.
The latest edition of the OT/ICS and IoT security Threat Landscape Report 2024 also covers:
State of global ICS asset and network exposure
Sectoral targets and attacks as well as the cost of ransom
Global APT activity, AI usage, actor and tactic profiles, and implications
Rise in volumes of AI-powered cyberattacks
Major cyber events in 2024
Malware and malicious payload trends
Cyberattack types and targets
Vulnerability exploit attempts on CVEs
Attacks on counties – USA
Expansion of bot farms – how, where, and why
In-depth analysis of the cyber threat landscape across North America, South America, Europe, APAC, and the Middle East
Why are attacks on smart factories rising?
Cyber risk predictions
Axis of attacks – Europe
Systemic attacks in the Middle East
Download the full report from here:
https://sectrio.com/resources/ot-threat-landscape-reports/sectrio-releases-ot-ics-and-iot-security-threat-landscape-report-2024/
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
GraphRAG is All You need? LLM & Knowledge GraphGuy Korland
Guy Korland, CEO and Co-founder of FalkorDB, will review two articles on the integration of language models with knowledge graphs.
1. Unifying Large Language Models and Knowledge Graphs: A Roadmap.
https://arxiv.org/abs/2306.08302
2. Microsoft Research's GraphRAG paper and a review paper on various uses of knowledge graphs:
https://www.microsoft.com/en-us/research/blog/graphrag-unlocking-llm-discovery-on-narrative-private-data/
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
"Impact of front-end architecture on development cost", Viktor TurskyiFwdays
I have heard many times that architecture is not important for the front-end. Also, many times I have seen how developers implement features on the front-end just following the standard rules for a framework and think that this is enough to successfully launch the project, and then the project fails. How to prevent this and what approach to choose? I have launched dozens of complex projects and during the talk we will analyze which approaches have worked for me and which have not.
UiPath Test Automation using UiPath Test Suite series, part 3DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 3. In this session, we will cover desktop automation along with UI automation.
Topics covered:
UI automation Introduction,
UI automation Sample
Desktop automation flow
Pradeep Chinnala, Senior Consultant Automation Developer @WonderBotz and UiPath MVP
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
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Internet of things opportunity for insurers
1. 1The Internet of Things: Opportunity for Insurers
The Internet of Things:
Opportunity for Insurers
IoT will accelerate existing pressures and disrupt
traditional insurance models—while opening
new frontiers for growth. Can an old industry
learn new tricks?
2. 1The Internet of Things: Opportunity for Insurers
For P&C insurers, it's not the rapidly changing environment that poses the biggest threat—it's
acting on future challenges with strategies linked to the past. As near-term macroeconomic
indicators trend toward the positive, long-term signs are pointing to accelerated change and
new challenges for an industry already facing long-term growth and profitability issues.
In addition, changing consumer preferences and concurrent technological developments—
including the Internet of Things (IoT), a web of connected devices, machines, people, and
organizations that can interact with one another—are likely to further accelerate existing
industry stresses and have a material impact on the relatively static industry landscape.
By 2025, IoT will be pervasive, with connected “things” driving a data explosion with sensors
embedded in cars, buildings, and wearable devices—so much so that a family of four could
have more than 100 connected devices.
The Internet of Things, a web of
connected devices, machines, people,
and organizations, is just one techno-
logical advancement that will have
a material impact on the relatively
static P&C insurance industry.
IoT will fundamentally change what consumers know and how they interact, both among them-
selves and with insurers. The change will impact the core P&C business model and create new
opportunities, including the shift from restitution to prevention. New realities will challenge the
way insurers traditionally conduct business, as risk determination based on individual customers’
characteristics and behaviors becomes more common, advice-led customer interactions become
more frequent and real-time, the role of brand evolves in the context of privacy and data
concerns, and the cycle of invention and customer adoption continues to accelerate. Insurers’
growth prospects will be impacted by a shifting risk landscape, new competition from both within
and outside the traditional insurance industry, and increasing risk of dis-intermediation.
The following perspective highlights evolving trends in IoT and their implications for the P&C
industry—as well as broader potential areas of opportunities for P&C insurers in traditional and
emerging domains. It recommends strategic and tactical responses required to respond to and
take advantage of IoT and provides perspectives on internal capabilities that Insurers should
develop to successfully compete and sustain agility in a changing world.
Innovation Is the “New Normal” for Insurers
The path to winning P&C insurance consumers will become more complex over the next
decade as an industry already under pressure will face more challenges. Changes in consumer
expectations and emerging technologies trends such as mobile connectivity, digital, big data,
and IoT will shake the P&C industry in an unprecedented fashion.
3. 2The Internet of Things: Opportunity for Insurers
The P&C industry faces long-term pressures in terms of both growth and profitability (see figure 1).
Despite recent gains driven by the “hard” market, longer-term growth is expected to be flat.
The low interest rate environment will continue to put pressure on insurers to generate under-
writing results to deliver earnings; their ability to do that will be constrained as the market softens
and excess capital and continued competitive pressures limit their ability to raise prices. That
said, players with strong balance sheets have greater flexibility to invest in their business and
make strategic bets.
We expect premium growth to slow in the next four to five years, shifting to a sustained
decline beyond the next decade as risks fall and sustained shifts in ownership patterns
emerge. This trend is already occurring: There has been a 10 percent decline in inflation-
adjusted auto insurance premiums compared to a decade ago—$18 billion total, or roughly
the size of Geico.1
Advances in safety technologies will impact accident frequency, reducing losses and, thus,
premiums. In the longer term, the continued rise of autonomous vehicles and car sharing will
change the nature of insured assets. These trends will lead to a meaningful shift in premium
mix, increasing the strategic importance of the home in the future. Players with an advisory-
focused value proposition may be well positioned to capitalize on this shift.
Notes: ROE is return on equity. COE is cost of equity.
Source: A.T. Kearney analysis
Figure 1
P&C situation and trends
P&C industry pressures
• Greater competitive intensity
• Shrinking auto insurance
• Unfavorable macro environment
(interest rates, excess capital)
Technology and consumer trends
• Aging demographics
• Declining loyalty, privacy concerns
• Lower ownership of major assets
(cars, houses) but more tech-
nology items
Regulator dynamics at play
• Rising in some areas (such as
automotive safety)
• Some risk to data aggregators;
European-style data privacy
Value creation (ROE-COE) (%)
NWP growth (%)
–5
0
5
10
15
20
2005 2010 2015 2020 2025
Telematics reaches
~20% penetration
ADAS technology in
95% of new car sales
2030+ AV and car sharing reduces
number of cars by ~5% in car parc
Value destruction
3
3
2
2
1
1
–15
–10
–5
0
5
10
2005 2010 2015 2020 2025
1
Auto Insurance Report, National Conference 2014
4. 3The Internet of Things: Opportunity for Insurers
The Always-Connected Consumer
Insurers are operating in an environment where consumer expectations and the technologies
available to meet them are evolving rapidly. Advances in digital technology not only provide
new methods to connect with consumers but also create new imperatives as always-connected
consumers demand greater digital sophistication from the companies they do business with.
These technological changes continue to accelerate. Consumers already expect to research,
shop, and transact seamlessly across channels. IoT will further shift consumer expectations by
offering consumers a wealth of relevant, real-time information about themselves and their
physical assets, requiring P&C insurers to engage customers in context relevant, just-in-time
dialogs about their cars, homes, and the like. While in the past, the P&C industry has remained
largely unaffected by such changes, current trends will shake the industry as they change the
consumer dialogue about risk, and alter the very nature of the risk landscape.
Disrupting Existing Insurance Models—
and Unlocking Growth
IoT has the potential to drive fundamental change in the P&C insurance industry (see figure 2).
Innovations will shift market boundaries. The new IoT ecosystem of sensors, applications
—and the behaviors they provoke—will entice players from disparate markets such as
automotive OEMs, home security companies, cable and mobile providers, and insurers to
compete across traditional industry boundaries.
IoT will lead to new value propositions that unlock new sources of revenue. Insurers can
use IoT-enriched relationships to connect more holistically to customers and influence their
behaviors. IoT data will have value beyond insurance for market segmentation, offering
Core business model
Source: A.T. Kearney analysis
Figure 2
Implications for insurance industry
Finer customer
segmentation
Improved risk
understanding
Enhanced loss
management
Value
propo-
sition
Shift in source
of liability
New business model
Holistic solutions to meet
customer needs
Alternative models to
monetize assets
Market structure
Shift in industry
boundaries
Shift in nature
of risk
Shift in product
portfolios
• Expansion from reactive restitution to proactive protection
and prevention
• Shift from event-based transactions to richer and more
frequent life episode-based interactions
5. 4The Internet of Things: Opportunity for Insurers
customer services related to emergency conditions, lifestyle, or other factors. Always-
connected lifestyles will also generate new types of risks, such as for information security.
The better insurers understand these opportunities and risks, including which ones to cover
and how to price them, the more successful they will be in the transformed marketplaces.
IoT can improve the economics of core business models. Economics will improve in several
ways, particularly from the use of data analytics to identify and understand risks. Less risky
behavior such as safer driving or better roof maintenance will lower preventable losses. For
example, speed and miles driven, derived from telematics device, can serve as underwriting
factors that improve the loss experience and core business operations, including claims
management, servicing, and acquisition. Better, more timely information can make claim
payments speedy and efficient, while data analytics can make detection of potential fraud both
easier and more successful.
The connected ecosystem creates new
opportunities for insurers, and more
relevant engagement for consumers with
their cars, homes, and selves.
IoT will shrink the traditional insurance market and change the nature of the risk landscape.
IoT will provide new ways to avoid preventable losses—some of which will be carved off by new
competitors from outside the industry. As insurers begin to provide prevention solutions, the
fundamental economics of the industry will shift, and they will incur greater up-front costs to
lower loss payouts in the future. The nature of insurable risk will shift to low-frequency, high-
severity events that are harder to predict and price. These effects are already playing out in
selected segments, such as high-net-worth customers.
The Impact of IoT: Where Should Insurers Focus?
By 2025, IoT will have a significant impact in three areas highly relevant to P&C insurers: the
connected car, the connected home, and (to a somewhat lesser extent) the connected self.
This connected ecosystem creates new opportunities for insurers, and more frequent, more
relevant engagement for consumers with their cars, homes, and selves. The hype will eventually
give way to commercially viable and sustainable business models. Google’s pod-shaped
autonomous car prototypes provide a glimpse into this future. In a project run by University
of Michigan, some 3,000 drivers have fitted wireless Internet connections on their cars to
interact with both road infrastructure (such as traffic lights) and other cars on the road, in
order to inform them about potential collisions.2
The connected car. The usage-based insurance (UBI) market for connected cars is currently
nearing the end of its experimentation phase on the growth curve, with nine of the top 10
insurers offering UBI commercially or in various stages of pilot. Today, growth in telematics
insurance is driven by pricing offers, but by 2025 a broader, modular set of value-added services
2
The Economist, Technology Quarterly, 2014.
6. 5The Internet of Things: Opportunity for Insurers
that integrate seamlessly into the lives of customers will draw more customers. By 2025,
telematics will grow to 30 percent of the market, and features such as ADAS (advanced driver
assisted systems), semi-autonomous or autonomous vehicles, and recovery of stolen vehicles
will be in use for nearly half of the cars on the road (see figure 3).
The future of the connected car can play out in several plausible scenarios: OEMs as branded
integrators; large tech companies such as Apple’s CarPlay dominating with popular closed
platforms; or open platforms and consortia emerging, such as MirrorLink. The connected car is
critical to P&C insurers. They must prepare for multiple potential futures, and develop strategic
partnerships with these emerging gatekeepers while reinforcing their value proposition to the
consumer to sustain customer pull.
The connected home. By contrast, the connected home market is something of a Wild West.
An increasing range of potential business models and value propositions are emerging, and by
2025, half of U.S. households will be connected, thanks to IoT-enabled, integrated monitoring
and control solutions, many of which will include simple DIY installation.
The market has some time before it fully matures, but within the next decade we do expect key
players to move from individual product offerings to service platforms or integrated hubs. Just
as consumers demanded universal remote controls to replace their collection of remotes, it
seems likely that they will want a single hub for their connected home. For example, Quirky’s
Wink hub is enjoying support from major players such as GE, Honeywell, and Philips as it strives
to unite diverse gadgets into a single ecosystem. Meanwhile, the startup SmartThings and
Lowe’s Iris are seeking to serve as central platforms or hubs for DIY solutions and value-added
services. Google also cannot be counted out, as its acquisition of Nest illustrates.
2014 2025 2030 2050
Source: A.T. Kearney analysis
Figure 3
Advanced safety penetration through 2050
Implications
• By 2025, half of cars on the road will
have ADAS.
• Autonomous vehicles are first expected
by 2020, and will reach roughly 20%
saturation. Key players will include Tesla,
Google, and traditional OEMs.
• Car parc growth slows to 0.6% CAGR
compared to the 0.8% to 1%historic rate,
due to demographic shifts, car sharing,
and continuous penetration of AVs.
Autonomous vehicles Semi-autonomous vehicles ADAS Other Parc reduction
0
50
100
150
200
250
300
350
U.S. auto parc
7. 6The Internet of Things: Opportunity for Insurers
Over the next decade, the connected home will continue to gain significance as a revenue
generator and as an entry point for other products and services. For insurers, the key is getting
the trust and value components of future offerings correct, by initiating pilots and working
alongside customers.
The connected self. This is a smaller, more nascent market that may be the catalyst for
convergence across connected homes and cars. For that reason alone, it should remain a
focus area of P&C insurers. For example, future wearable devices could report on the physical
or emotional environment of the wearer, potentially leading to independent living solutions
for the elderly or physically challenged. New business models could emerge, perhaps with
employers buying wearables for their insured employees or companies monetizing the health
data by providing relevant referrals. Actively monitoring and identifying targeted opportunities
is a prudent step for P&C insurers.
Can Insurers Turn Change into
a Sustainable Opportunity?
IoT has only started to affect P&C insurance, but the situation is rapidly changing. Key insurance
players already recognize the potential of IoT. Most national auto players already offer UBI for
their general populations. State Farm has already progressed to consumer rollout of an early
connected home product and is providing discounts based on DIY installations.
To remain relevant and to benefit from IoT,
insurers must prepare and act now.
OEMs, large telcos, and tech companies are already moving in and could be a threat, potentially
relegating insurers to white-label providers or disintermediating them from the customer
entirely. SmartThings was recently acquired by Samsung, and BMW is making significant
investments in the connected car space, focused on the driving experience.
To remain relevant and benefit from IoT, insurers will have to prepare and act now. IoT offers
many accessible, significant opportunities, both to support and refine the existing P&C
business model and to provide new offerings for consumers.
Improving existing business. As sensors and devices proliferate inside the car and, even
more so, at home, they will generate a wealth of data, leading to better decision making
across many industries, including insurance. In the connected car, telematics is creating UBI
offerings, which will influence driving behavior and smooth the processes of accident repair,
roadside assistance, and car maintenance. Meanwhile vehicle safety and security will improve
with systems that can detect imminent collisions and take evasive action, or even interact
with road infrastructure and brake for red lights. At home a combination of mobile and sensors
across major home systems will provide home monitoring and control solutions that can
mitigate preventable losses (such as water hazards) and provide ability to control the home
environment (such as lighting and HVAC). In addition, these sensors will provide better
information on the condition of the home, improving the timeliness and impact of home
maintenance and repairs, and hopefully educating consumers in the process.
8. 7The Internet of Things: Opportunity for Insurers
Expanding customer value propositions. Sensor data is rapidly coming online. With the right
analytics, this data will provide more complete behavioral- and needs-based pictures of
consumers and distinct segments than exists today. Insurers will have the opportunity to develop
more holistic value propositions beyond risk management—and indeed may need to do so in
order to maintain control of the customer. In both the car and the home, other incumbents are
broadening their value propositions. Insurers can do the same, using their data to help consumers
make wise purchase decisions and maintain the value of their assets afterwards. A first car or
home purchase is a significant customer event, and insurers can build out their value propositions
to own the right to advise and serve customers from that point forward.
Overall success for insurers will come by
the ability to differentiate in an increasingly
commoditized market. IoT is one way
insurers can achieve that differentiation.
New approaches, such as gamification (for example, Fitbit) are engaging younger consumers
to change behaviors and, subsequently, their risk profiles. Insurers can similarly work with
consumers to change their driving and maintenance behaviors through UBI and then extend
that influence to OEMs. In the home, insurers can shape a similar dialogue, integrating a
wealth of data to educate homeowners on timely maintenance, access to quality material,
and recommended contractors.
Success Heading into the Future
How to capitalize on each opportunity depends on its time to maturity. For each of major domain,
some opportunity areas will mature within the next five years, requiring immediate action toward
the market; others may take more than 10 years and will benefit from experiment-based develop-
ment. Together, these opportunities will bring about the fundamental industry shift.
Overall success for insurers is the ability to differentiate in an increasingly commoditized
market. IoT is one way to achieve that differentiation. Leading insurers will be able to position
their brand as innovative and responsive to customer needs, which leads to more valuable
customer trust. Insurers have an opportunity to learn and adapt while the market is still evolving
and take a unique position in strengthening the value of their offerings for new and existing
customers. This will drive future growth in a compressed landscape.
Succeeding in IoT will require a different way of doing business, requiring shifts in structure,
capabilities, and culture. The new, fast-changing, less predictable business environment will
favor players that can execute strategies faster and more flexibly. Adopting a mindset of
continuous renewal will create a supportive culture that motivates the behaviors required for
success. Incorporating this mindset into the strategic planning process is crucial for making the
most of IoT opportunities. The right governance model and leadership commitments will allow
insurers to manage the risks and trade-offs while moving with the necessary urgency to capture
the opportunities presented by an IoT-enabled future.
9. 8The Internet of Things: Opportunity for Insurers
Overall, we see several actions for getting in position to capitalize on IoT:
• Emphasize a mind set that acknowledges that good innovation means taking risks.
Create a culture that allows for risk taking. Define smart risk so that people know acceptable
boundaries within which to fail and move forward, through a gated innovation process.
• Establish a “living” business planning approach. Maintain flexibility to address changing
business conditions but maintain structure and stick to your overall vision. The environment
will change, and the innovation journey will take years.
• Maintain a flexible partnership approach. Have some flexibility in managing multiple
partners within the ecosystem, without knowing which partner or partnership will be
successful. Understand that some partnerships may be “test and learn.”
• Build around a deep understanding of customers and their needs. Effective innovation
management requires the ability to clearly articulate the desired outcome in customer
terms. Not all IoT applications will be relevant.
• Set expectations with customers. Rapid innovation will put pressure on the customer
experience. Understand and manage key customer episodes—and how IoT will change them.
Maintain transparency by sharing key learnings and benefits with existing customers.
• Change customer behaviors. Ultimately, IoT’s true value depends on customers adjusting
their behaviors and risk profiles based on feedback from their “things.” Understand and identify
those customer episodes where new, more informed habits form.
Capitalizing on Uncertainty
A significant degree of uncertainty exists about how much of IoT’s potential is hype and how
much is truly likely to materialize. But the need to innovate more rapidly and effectively is
undeniable. It is crucial that insurers develop strategic plans to address technological
disruptors such as IoT and their related risks and opportunities.
The winning plans will define an overall path for each asset (car, home, and self), allowing for
differentiated approaches, the ability to be informed and adjust direction, and flexible
investment and resource planning to navigate a new and evolving landscape.
Authors
Joseph Reifel, partner, Chicago
joseph.reifel@atkearney.com
Alyssa Pei, partner, Chicago
alyssa.pei@atkearney.com
Neeti Bhardwaj, consultant, Chicago
neeti.bhardwaj@atkearney.com
Mike Hales, partner, Chicago
mike.hales@atkearney.com
Shamik Lala, principal, Chicago
shamik.lala@atkearney.com