Aftership Case Study Based in Hong Kong, AfterShip provides automated shipment tracking as a service, supporting shipping services worldwide and handling over 30 million packages every month. The government agency is responsible for maintaining road infrastructure in the Flemish part of Belgium. AirAsia flies to over destinations across Asia, Australia and the Middle East with an estimated 60 million pax flown annually. Since moving its website and booking platform to AWS, they have been able to better cope with customer demands; auto-scaling to receive almost 10 million to 40 million requests per day on normal and peak seasons respectively.
A key driving factor for the growth of the market is the growing adoption of Internet of Things IoT for various insurance applications such as health, life, automobiles, travel, and agriculture sectors, among others.
The IoT-enabled devices provide intelligent data for insurers to monitor and track the status and monitor data that helps insurers to manage claims and reduce risks.
The IoT-based devices such as in-vehicle sensors, global positioning systems, and other on-board devices generate informative data for insurance industry.
Data such as speed, acceleration, and distance driven is collected by insurers and is used to accurately access premium policies and reduce frauds. Additionally, the policyholders are able to get rewards for good driving behavior and improve the driving habits.
Hence, IoT would be able to reduce the cost of premiums and strengthen customer relationships. The adoption of telematics in UBI enhances the underwriting process and speed up the insurance claim process. The growing adoption of IoT devices such as smartphones, drones, and Wi-Fi dongles, among others in the Asia-Pacific region has increased the demand for IoT insurance in the region.
Breakdown of profile of primary participants: Research Coverage In this report, various segments such as insurance type, insurance applications, and geography have been covered.
It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across five main regions: The political, economic, social, and technological PEST factors analysis has been included in the report along with the description of each of its factors and their impact on the said market.
Reasons to Buy the Report: This report includes statistics pertaining to the IoT insurance market on the basis of insurance type, insurance application, and region. The PEST analysis, value chain analysis, and key strategies adopted by the market players have been provided for the IoT insurance market.
Major drivers, restraints, opportunities and, challenges for the IoT insurance market have been provided in detail in this report.
Stories about business and industry issues in health, technology, environment, and society. Self- service business intelligence for insurance companies can be transformational in this respect, giving users across the business the ability to create and manage their own reports easily, without requiring a high level of technical expertise. Customer retention is at the heart of many businesses, and insurance is no exception. When a leading insurer realized that about 60 percent of the customers who purchased policies in previous years had allowed them to lapse, it sought a way to change that trend. The insurer wanted to improve.
The report includes illustrative segmentation, analysis, and forecast for the IoT insurance market based on its segments and subsegments.Accenture is a leading global professional services company providing a range of services & solutions in strategy, consulting, digital, technology & operations.
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