While the IoT has been disrupting almost every business, the insurance sector has been a reluctant adopter of one of the most fast-growing and strategic technologies. The IoT was largely seen as a futuristic concept best suited for the largest corporations and insurance providers. However, the pace at which IoT has become ubiquitous has forced the insurance industry as a whole to look at IoT as an integral component in shaping business strategies and models. To gain a significant competitive edge and to establish a significant value proposition, insurance companies must look to leverage data coming from home systems, automotive sensors, mobile and telematics devices, networked appliances, wearables, GPS and drones. The way forward for insurance companies is to structure and analyse these data streams for enhanced and personalised customer service, better risk assessment and engage policy holders for loss prevention.
Mobiliya offers end-to-end IoT solutions targeted to enable insurers to gather data from multitude of sources like home, automotive, wearables or any other connected device and convert the data into actionable insights
Insurance companies can employ robo-advisors that can be on-call always to help customers
Solutions for automating processes related to handling of customer enquiries, updating contact information like phone numbers and addresses and generating customer IDs
Robo-advisors can help in reducing time taken to perform tasks by 80-90% which can be critical especially in areas like claim settlement or complaint resolution
Robotics or RPAs can help insurers in predicting the eventual outcome of claims processes and suggest the most appropriate strategy based on that prediction
Provides scalable solutions that can blend seamlessly in existing enterprise setups