As pointed out in Insurtech: Processes are Ripe for Disruption, wearable technology can make an impact on the insurance industry’s product development, customer service, and claims processing processes. Wearable fitness devices, like watches and wristbands, are already providing insurers with access to customer data by tracking health behaviors and habits. Insurers are using this data to offer personalized service, improve risk assessment and pricing, and build customer engagement. The health insurance sector, pointed out by Dorota Zimnoch in How Digital Is Disrupting the Insurance Sector, is using IoT and wearable technology in these ways: Vitality, the UK health and life insurer, rewards customers for being healthy by collecting data via wearable devices like Garmin, Polar, Read more
Posts Tagged 'Internet of Things'
With data being collected by organizations at a staggering rate, the demand for analytics to leverage the insight from this data is growing just as fast. Big data can viewed as a gateway to new opportunities, as a means of managing risks, or as a tool to improve business sustainability. Oftentimes, big data is associated with two keywords: analytics and technologies. These keywords represent an evolving suite of trends – from descriptive, predictive and prescriptive analytics to the application of Machine Learning, and Cloud technologies. Continuously monitoring these trends in analytical approaches and technological breakthroughs in the context of Big Data and applying them to produce business value is the key to survival in this Read more
Last week’s DDoS attack against Dyn Inc. had an impact on many organizations beyond the reported hits to PayPal, Twitter, Amazon, Spotify, and others. Even Cutter’s website search function was out of commission for a short while! Experts have warned that at some point, smart versions of devices such as refrigerators, televisions and thermostats could be manipulated to alter their basic functions, but did anyone foresee that these devices would be used to launch a third-party attack? This isn’t the first time it’s happened, and it’s not likely to be the last. In the July 2016 Cutter article Securing the IoT: It Takes the Global Village, author David Tayouri discusses the threats Internet of Things Read more
This upcoming issue of Cutter IT Journal seeks articles on new approaches, strategies, and solutions to help IT professionals address and prevent the possibility of cyber attacks stemming from IoT related devices. Cyber threats have been on the rise, and more so with the advent of the Internet of Everything (IoE). Common appliances are now featuring intelligent processing and real-time connections to the Internet. Health measurements are now collected in real-time by smart wearables, including general purpose smart watches. The latest models from automobile manufacturers feature cloud connectivity for enabling remote software updates, tracking fuel consumption, and streaming dashcam activity. On a larger scale, the smart grid ensures seamless and dynamic allocation of energy where Read more
The Internet of Things (IoT) is rapidly emerging as a transformational paradigm with a multitude of products and services now available and being adopted by corporations as well as individuals seeking to harness the vast opportunities it offers. But we do face a major obstacle in realizing the full potential of the IoT. The sheer variety, volume and velocity of data generated by the IoT presents unprecedented challenges in deriving meaningful and actionable insights and calls for a strategic approach to data management and usage. These approaches also need to address business strategies, business processes, enterprise architecture, systems and applications, and security and privacy considerations. It is also important to examine and decide what data Read more
The Internet of Things was much in the news in 2014, and will continue to develop. In the last months of 2014, the emphasis seems to have shifted toward wearable devices for health and fitness improvement. These devices are particularly intrusive into our personal lives, yet the sensing and communication capabilities, as well as the analytics provided in the cloud for the data being gathered, are not being matched by an equal emphasis on information security and privacy. Will we see leaks and a backlash? Will the security part of the IoT architecture catch up, or will it just muddle along? Makers of devices and apps: take care of this before it hurts you. Buyers: Read more
The “Internet of Things” will take further hold and become more fully embedded as a reality in our society. However, a tipping point is likely to be reached in 2015 as public awareness of the potential for these technologies to violate personal privacy increases. This will lead to an associated public outcry for stricter controls and government legislation regarding how people, organizations and government collect and use this information. The public will no longer be satisfied to leave technology companies and users to self-police their uses of their personal data. Surveillance and other technologies that permit the collection of data about people will continue to proliferate. Analytical tools are emerging to interpret this information, and Read more