5 Insurance Impacts of the Internet of Things

Smart devices are poised to alter policyholders' lives — and the way they are insured.
February 01, 2013


4. Water pumps

Munich Re says that the 2012 drought in the U.S. was one of the costliest crop insurance events for reinsurers on record. With an uncertain climate, insurers might be interested in this system that "enables irrigators to monitor water-use quotas, set alarms to indicate high/low usage rates, and track crop data."

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