McKinsey sees insurers allocating 20% of resources to prevention rather than risk sharing in "Claims 2030: Dream or Reality". When it comes to home and contents that means connecting to the "Home-as-a-Platform".
"Haap" might turn out to be "Happless"
AS The Economist states "Ben Wood, the chief of research at ccs Insight, another firm of analysts, says that installing and maintaining smart gadgets—let alone trying to get them to work together—can be a chore. “It’s a very Heath Robinson kind of patchwork, a jigsaw puzzle of connectivity.”
This involved 2km of network cabling in Woods own home. Add to that "Another problem is that products from one manufacturer often fail to work well with those from another."
This moves into the world of the system integrator rather than the strengths of incumbent insurers. The idea is that insurers will be partners of "ecosystems" but that could mean being junior partners. The integrators, OEMs and digital giants like Amazon may become the senior partners and how many insurers will they want to work collaboratively with?
Then at least insurers will tackle ecosystems and the connected home from a position of strength and market leadership.
Mr Wood is a keen tinkerer who has converted his own house into a home smart enough to win a European award in 2017, complete with voice-activated lighting and windows, room-by-room heating, phone-controlled speakers and a camera-equipped door that can be locked or unlocked from anywhere in the world. Making it work required installing 2km of network cabling, all of which feeds back into a cupboard containing a set of rack-mounted computers that would not look out of place in a data centre.