the internet of things – the next wave - insurance
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Copyright © Arqiva Limited 2014 Company confidential 1
The Internet of Things – The Next Wave of Change
Copyright © Arqiva Limited 2014 Company confidential 2
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Rise of the Machines
2020 451m connected devices in the UK
2013 100m connected devices in the UK
24% CAGR
Source: Machina Research
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Data is the lifeblood of insurance
“The more the Internet of Things knows about you, the more that insurance companies are able to slurp that data and incentivize you to walk the straight and narrow”
The Register – May 2014
"You know the way that advertising turned out to be the native business model for the internet? I think that insurance is going to be the native business model for the Internet of Things”
Tim O’Reilly – May 2014
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Connected Smoke Alarms The internet of things creates opportunities
Property
Auto
Liability
Health Pet
Travel Livestock
across a broad range of insurance sectors
And others….
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Arqiva’s Business
TV and Radio
“Market leader in terrestrial TV and radio
broadcast infrastructure”
“Nearly 50% market share of
UK channels uplinked”
Satellite
“Own largest independent
portfolio of WiFi/wireless sites”
Telecoms and WiFi
“Building a smart network for 10m homes and a
national IoT network”
Smart Metering and M2M
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Arqiva’s role in the Internet of Things Arqiva provides a unique breadth of connectivity technologies
IoT Connectivity
Satellite
LRR (Sensus)
UNB (SIGFOX)
2G
3G/4G
WiFi ►Delivering smart metering to connect electricity and gas in 10 million homes –
►Partnered with SIGFOX to create new national Internet of Things network
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Car Insurance Leading the way in use of technology to better inform of risk
Automotive telematics market will grow to 1.4B connections by 2020
GPS location for stolen vehicles reported 479,000 incidents of car theft in 2010
Even more possibilities for the future
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Connected Smoke Alarms
►EU Insurer anticipating the new French regulation that every
household will be equipped with a smoke detector by 2015. ►SIGFOX network enables insured customers to be alerted of any
issues. • In case of intrusion/fire warnings. • Replacement battery if running low.
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Home Security
Smartphone enabled home security allowing:
• On-demand access to cameras • Home temperature monitoring • Noise detection with push notifications to smartphones
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Home Access Control Innovative access control through smartphones
Keyless, encrypted locking technology Give access to a cleaner a couple of hours a
week. Log history of who’s entered and exited
Landlords issuing new tenants keys and
removing access from previous tenants.
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Flood Insurance
Richer data for better forecasts, revising flood protection investment and infrastructure Key defence mechanisms to limit damage and increase
commercial property protection in insurance. Insurers could incentivise investment in protection and resilience.
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Tracking Devices Asset Tracking examples
Bike Insurance Agricultural Insurance Pet Insurance Travel Insurance
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Pet Insurance Smart collars enable pet owners to foresee early signs of diseases and behavioural issues, sending owners alerts via SMS.
Sensors that monitor
temperature, pulse and respiration, allowing owners to share information with vets. • Activity patterns • Calories consumed • Heart rate variability
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Insuring valuable items
Valuable objects will have electronic sensors manufactured into them
‘Smart Dust’
Tracking items in real-time
location.
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Smart Technology in Construction
Autonomous and low cost SIGFOX modems provide connectivity for sensors with mechanical constraints in construction
Issues affecting construction insurance:
• Site theft and fire supervision • Worker protection • Real time building monitoring • Optimized fleet management
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Health Insurance
Digital technology to facilitate changing behaviour. Lack of exercise, imbalanced diet and lack of medication adherence
provide opportunities in connected health and health insurance. Connected pill bottles to remind patients when to take their pills, and
track when they haven’t
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The Internet of Things – The Next Wave of Change