Octo was proud to sponsor the 4th Annual Connected Insurance Summit USA; the biggest IoT event for insurance professionals, with over 500 visionaries and leaders attending.
On November 28th, Senior Sales Director, Claims - John Heffernan - spoke on how to "Realize the Benefit of IoT: How to Balance Data Value, Risk, Loss and Engagement".
Here's a key takeaway from the session:
"Insurers need a way to take in IoT data, analyze it for risk assessment, loss management and customer engagement. Telematics services providers have been fantastic at doing this for the auto insurance vertical. Realistically, insurers need to expand this beyond auto to use IoT data across industry verticals. A platform approach is the best way to bridge the gaps in the customer experience and get the necessary ROI and scalablity".
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