Many a discussion about IOT in the insurance sector generates the discussion as to how additional data from myriad sensors can cost-effectively improve pricing decisions.

This conversation will run and run. While in the meantime the sensors will mean claim volume and intensity will be reduced across many classes of business and as a result companies and customers will have fewer claims pains.

At a recent Smart Home event there was a debate over whether the insurance industry, utility industry or electronics industry was best positioned to win in the Connected Homes space. Frankly, the consumer is more interested in avoiding a leaking pipe and the restaurateur is more interested in avoiding an open fridge than either is in saving 10% on their premium.

Yes, the data from IOT will ultimately be invaluable to pricing actuaries. In the meantime smart carriers will be directly and with partners looking to how the sensors and resulting data can be used to stop the need for a claim at all.