Where telematics in Motor Insurance has been around for 20+ years, the adoption has remained focused on the younger generation of drivers. Similarly in commercial property insurance, IoT has had a slow adoption journey with a focus on water leak…
The moral imperative: embracing IoT for proactive risk management
Insurance is traditionally reactive, responding to claims after incidents occur. However, with IoT and real-time data analytics, these technologies enable a shift towards proactive risk management. Not only do the devices alert that an incident is going to happen/ starting…
IoT in business: the impact and evolution of GSS Analytix’s Pollobot
IoT is significantly altering the business landscape across multiple industries with agriculture being a prime use-case. Real-time data solutions are increasingly being used for decision-making and an example of such an innovation is one being trailed by GSS Analytix’s called…
The IoT conundrum – navigating cyber risk
The deployment of IoT devices is rapidly transforming industries where organisations are leveraging real-time data from IoT devices to better manage operations, risk and ESG metrics. From a risk management perspective, IoT and real-time data enable a shift from a…
How can IoT help mitigate the devastating impacts of active assailants?
In 2022, according to The Gun Violence Archive, an active shooter statistics database, 645 mass shootings occurred in the United States. This year, there have already been 50 more active shootings than this time last year with 477 active shootings…
Including risk management & insurance in your IoT business case for commercial property
The use of IoT in commercial property to manage the total cost of risk (risk management and insurance spend) involves careful consideration of the commercial property’s unique risk profile, the particular perils they are exposed to, and the type of…
Unleashing the potential of IoT for enhanced ESG reporting in insurance and commercial property
While the significant potential of IoT is starting to be understood and real-time data solutions adopted in various industries, insurance and commercial property sectors appear to be lagging behind adopting this technology. However, with the advent of Environmental, Social, and…
IoT devices for commercial property and insurance: The Iceberg Effect
In the world of commercial property and insurance, the traditional risk assessment method has been that a human being visits a site once a year (or possibly longer) with a clipboard manually recording issues and required risk improvements. [It should…
How does IoT impact risk management & insurance in manufacturing?
IoT technology is revolutionising manufacturing by improving efficiency, productivity, and profitability. Alongside these identified benefits, IoT technology also enables a reduction in specific types of risk: worker safety, machinery breakdown, business interruption and product recall. IoT technology can also improve…
The three lenses of IoT in commercial property – operations, risk & ESG: a focus on Risk
IoT technology and real-time data insights are becoming increasingly prevalent in the management of Commercial Property. Building owners and facilities management organisations realise that by deploying devices and responding to the data alerts, leaks can be fixed quickly, machinery repaired far…
