Global Internet of Things (IoT) in BFSI Market was valued 338.65 Mn in 2018, and expected to reach XX Mn in 2026, at CAGR of XX % during forecast period.
Global Internet of Things (IoT) in BFSI Market
IoT is helping the insurance companies in more effectively determining insurance prices and providing services that keep people and their assets safe. IoT devices, such as smart devices and phones, can use accelerometers, gyroscopes, GPS, and sensors to provide data on consumers. This usage pattern can be further used by insurance companies to provide UBI solutions. For instance, with the emergence of telematics, cars are now able to transmit drivers’ behaviour data back to the car insurance companies, so that they can evaluate drivers’ risks and premiums accordingly.
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