From Drone Inspections To Automated Home Repairs: 11 Ways The IoT Is Driving Innovation In Insurance

The Internet of Things will encompass between 20 and 30 billion connected devices by 2020, according to estimates. Many corporate investors and smart money VCs have placed significant bets on the Internet of Things industry, which is expected to see nearly $2B in annual funding to private companies in 2015. After digging into company partnerships and news in the CB Insights database — across both Internet of Things startups and corporates — we found different ways the insurance industry is using the IoT to price risk, lower prices, and rollout new products. Here are 11 examples of how connected devices are changing the landscape for insurers and their customers.