Internet of Things

The “Internet of Things”: tools to assess & manage risk in insurance

Imagine being able to stop the bad stuff from happening…

The ability to do this is real in many instances, enabled by the use of Internet of Things (IoT) sensors. Real-time monitoring and predictive capabilities can:

• Prevent incidents such as water leaks and equipment failures

• Unlock new revenue streams for insurers

• Provide precise data for dynamic pricing

• Strengthen client relationships for brokers with tailored risk solutions

• Mean faster resolution for claims handlers with IoT evidence

Despite this, the IoT remains underutilised in our industry.

This webinar will explore how the IoT’s untapped potential could reshape your approach to commercial property insurance. It equally applies to other physical assets - such as marine or fine art. It includes practical examples alongside insights into newer underwriting models such as parametric and digital twins, and gives consideration to cybersecurity risks.

Learning Objectives

By the end of the webinar, you will understand:

• What is the IoT & why IoT data is a must for commercial insurance

• How to use IoT data to enhance risk assessment, pricing, and claims processes

• Examples of effective uses of IoT to mitigate risk and improve operational efficiency

• How IoT underpins innovative underwriting, including parametric and digital twins

• The cybersecurity risks of IoT - practical mitigation strategies for insurers and clients

• Why IoT is underutilised in insurance - with actionable next steps

BIO

Hélène Stanway has been working with the IoT & sensors in insurance since 2018 and launched the Digital Risk Engineer IoT solution for 24/7 building health monitoring with a start-up partner as part of her role as Global Head of Technology Innovation at AXA XL.

As an independent advisor, Hélène helps London Market firms with process optimisation, Blueprint Two, and to utilise new technologies. She also helps technology vendors enter the Lloyd’s and London Market. As the former President of the SENSE Consortium, Hélène led initiatives that drove risk prevention and IoT/ AI enabled sensor adoption in commercial real estate.

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