IoT Insider Editor Kristian McCann speaks with COO of InConnect Onno Bloemers on IoT as a way to reduce risks vs IoT as a source of new.
Bloemers has over 20+ years experience as consultant and changemaker. This has seen him gain experience across a broad range of financial services, eventually specialising in insurance.
It is his time in insurance over the last decade that lead him to the belief that IoT has an integral part in it. In addition to his work at InConnect, he works with several insurers & insurtechs on smart home; safe mobility, and climate resilience & service innovation concepts.
Yet having an in-depth understanding of risk from working in the insurance industry, he sees that IoT’s proliferation in both sophistication and in growing consumer use can yield equal amount of problems as it does solutions.
“The speed at which this technology is spreading across the globe is tremendous,” says Bloemers. “My impression is, however, that as countries around the world coalesce around security of IoT and devices, risks subside. But will it see an end of incidents? I don’t think so.”
Bloemers points out that IoT’s greatest strength, interconnectivity, is also one of its biggest risks, and the bigger the network, the impact of such an event would be even higher. Security of IoT becomes increasingly controversial when examining where such IoT enabled devices are standing to be largely utilised – in smart homes.
Yet should more security be implemented as is the trend, then Bloemers is confident that the benefits squarely outweight the risks. Bloemers goes on to give an example of IoT’s use in insurance, and how not only has it saved companies money, but people’s lives.
“One of the insurers I was working with installed IoT-enabled sensors in Chimneys, with a signal to alert that the chimneys where getting too hot, helping them to prevent fires. In one case, it actually did just that.”
In the podcast, Bloemers discussed incoming IoT legislation around the world, how hesitant companies can implement IoT, and case studies highlighting the versatility of IoT in private and business settings.
IoT reduce risks vs IoT new risk – IoT Unplugged
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