At a glance
- The Internet of Things (IoT) is offering new ways for customers to manage common household risks
- Four million UK homes now own some form of smart technology, with uptake expected to accelerate in the coming years
- We have partnered with a pioneering smart home technology provider to enable brokers to unlock the IoT’s risk management potential
The Internet of Things (IoT) is a hot topic, with commentators enthusiastically discussing its potential applications and benefits.
Risk management is one area where the IoT offers some exciting solutions, with a range of internet-enabled smart technologies now available to help your customers deal with common household risks.
Our infographic tracks this thriving smart home market and shows how customers can unlock the IoT’s risk management potential.
Losing your keys could become a thing of the past, with the ability to unlock your door at the touch of a button. Grant temporary virtual keys to friends and tradesman, allowing somebody to fix a leak or check a smoke alarm while you are away.
Sense when a visitor arrives on your doorstep and get a HD video of them sent to your smart phone – decide whether to grant them access remotely, or retain video evidence of any unwanted visitors.
Position smart moisture sensors at key locations within your property – such as behind a washing machine or under the sink – to be notified immediately if a leak occurs.
Install a smart stopcock to enable you to remotely shut off the mains supply and avoid a costly escape of water incident.
Monitor a range of variables, from heat and carbon dioxide, to humidity and pollen.
Receive notification immediately of any alerts, ensuring your smoke alarm is never ignored, and remotely turn off any false alarms.
With 70% of IoT devices suspected to have cyber security vulnerabilities, it is important that customers always choose a product that is secure, and take steps to avoid common vulnerabilities.
Cocoon’s all-in-one security system, for example, processes audio and video data on the device itself, sending only encrypted data across your network. Small steps, such as changing your internet router’s passwords from its factory defaults, will also greatly mitigate any potential cyber risks.
Smart security cameras and microphones can constantly monitor your home and notify you of any unusual activity. Pioneering smart security device, Cocoon, uses sound-based Subsound™ technology to monitor multiple floors from a single location, constantly learning normal activity, alerting you when someone unusual happens.
- Stream and record HD video and audio to see what is happening at your home.
- Activate an alarm to scare off any intruders.
Smart home devices in numbers
- By 2008, there were more devices connected to the internet than people on the planet – Cisco
- 4 million UK homes now have some form of smart home technology – CBR
- The UK’s smart home market grew by 30% in 2015 – CBR
- 91% of smart home device owners would recommend these devices to a friend – Cnet
- Two-thirds of consumers plan to buy a home smart device by 2019 – Accenture
- ‘Security and control’ is the most appealing smart home feature for 55% of consumers – GfK
- 70% of consumers would value the safety and security features a smart home offers – Raconteur
Managing risk the smart way
Four million UK households now feature some form of smart technology, with adoption expected to accelerate in the coming years. This presents an exciting opportunity for brokers to start exploring the IoT’s risk management potential.
We also recognise the possibilities offered by the IoT, and are pleased to announce a trial partnership with smart home security provider Cocoon.
Customers can achieve a 10% discount on their Zurich home insurance premium if they purchase a Cocoon home security device and brokers can access a £50 discount on Cocoon products for their customers (terms and conditions apply).
For more information on how your customers can benefit from smart home technology, and to gain access to exclusive benefits and discounts on pioneering solutions, please speak with your local Zurich contact