Internet of Things: A Transformational Force for the Insurance Industry

The Internet of Things (IoT) is the third wave in the development of the Internet, following the development of Internet connectivity for desktops and then mobile devices. IoT is making everyday objects smarter and more connected. Although the adoption of this networking technology has been slow, companies that have incorporated IoT technologies have experienced soaring profits and enhanced efficiency. Due to the ability of the Internet of Things to collect and report real-time data in a healthcare, business, and industrial environment, it is projected to revolutionize the way we perceive things.