Insurance of Things

Problem:

All activities have an associated risk

Harmful events are hard to predict

Harmful events could have a high negative impact

Solution:

Cover unpredictable harmful events with

finance compensation.

Customers want:

Reduce harmful events

Reduce business negative impact

Reduce premium costs

Insurancers want:

Improve decision on insurance approval

Improve the terms of insurance

Reduce harmful events and thus compensations

Insurance missing activities:

Real-time data collection

Real-time events alerts

Insurance of things:

Add trackers and sensors to assets

Real-time reporting of location and environment conditions (e.g. temperature, humidity, shock,…)

Real-time alerts and data analytics based decisions

Use cases:

Store thefts

Luxury fashion e-commerce

Maritime containers

Home

THEFTS

Organized Retail Crime:

Retail Stores

Mobile products

High value products

Solution:

"Bait": one of the packages is a tracker

Once starts moving sends GPS location

Benefits:

Theft alert

Product recovery

Criminal detention

LUXURY FASHION E-COMMERCE

High-end e-commerce:

E-commerce

Expensive

Shipping

Problems during shipping:

Stolen

Lost

Damaged

Solution:

Add a tracker into the package

Get alerts and location

Benefits:

Product recovery

Product re-order

Brand trust

MARITIME CONTAINERS

Maritime containers

Damaged

Container fire detection

Cold-chain breaks

Solution:

Add a tracker into a container's vent hood

Define geofences

Receive alerts on location and impact

Benefits:

Damaged responsability identification

Longstanding notification

Demurrage prevention

HOME

Home

Rooms humidity

Refrigerator cold-chain break

Solution:

Add a tracker to every room

Add a tracker to the refrigerator

Actions:



Humidity alert:

open windows or turn on dehumidifier

Refrigerator temperature alert:

turn power on or fix temperature configurations

Benefits:

Home owners, landlords, airbnb can:

Prevent wall damages

Prevent food waste

Prevent floods

Insurance of things

Better insurance policies

Better risk evaluation

Reduce costs

New revenue streams