The Future Of Risk Mitigation: Connected Devices

 Friday, April 9, 2021

 Risk & Insurance

As the world continues to invest in growing technology and the internet of things (IoT) evolves to offer more in the way of risk solutions, it’s no wonder that businesses and their risk teams are looking to utilize the capabilities offered.

One prominent method is through connected devices, which enable businesses to proactively assess and address risk concerns that could lead to future claims.

These devices include any sensor that is capturing and sharing data on a network in real time.

‘We could be looking at cameras, smart devices — like wearables, watches or cell phones — or even smart vehicles equipped with sensors,’ said Dan Campany, Head of IoT Innovation Lab at The Hartford.

‘Such devices are being utilized by companies to mitigate the risks associated with water, fire, theft, automobile accidents and worker injury,’ he said.
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