How can we bring insurance businesses into the future?

Client: Mirabeau – Stakeholders: Insurance companies, Smart device companies

EnsureYou is an innovative IoT integrated service for Insurance companies, designed for Mirabeau. Since one of the newest trend in the IoT domain is interoperability among different IoT devices, we focused on newly developed Smart Home products (e.g. Nesta thermostat). When these products “cooperate” in a meaningful way, they can fulfil a new range of customers needs.

During the development process we asked ourselves: How can we provide P&C policyholders with a service that would allow them to be more aware of their house condition, in relation to their policies? How can this new awareness enhance their preventive behaviour? How can we guarantee a transparent and seamless way of claiming house damages, when they occur?

EnsureYou allows policyholders in posses of smart home devices to:

  • receive preventive alerts when something might fall in the exclusions of their insurance policy;
  • tips on how to prevent major damages, by performing cheap house maintenance;
  • a chatbot service, allowing to claim damages seamlessly by receiving the damage assessment based on the data gathered by their smart home devices;

Privacy and security are a main concern in the Internet of Things domain. However, this concept disrupts the traditional way of “insuring” by creating a direct, transparent and trustworthy relationship between insurances and clients.

In order to allow a sustainable implementation of this concept, a strategic road map has been developed, both from an ethical and economical perspective. More details about the concept can be shared on request.