What emerging technologies are shaping the future of personal lines?

Change, it’s said, is the only constant. For many insurers, change can be a harbinger of new opportunities and new risks.

As we look ahead, evolving technologies are presenting home and auto owners with new potential risks. Hacking and ransomware, once confined to computer networks, may become an endemic cyber vulnerability for our increasingly connected vehicles and “smart home” devices. New sources of energy may help reduce our reliance on dirty fuels but could introduce new fire hazards into the home. Yet many of these same technologies could create new data sources and risk mitigation options for personal lines insurers, potentially providing them with new opportunities to help their customers manage these evolving risks.

Connected vehicles

Cars can stall. Cars can crash. And many of today’s cars can be hacked.

Article By: Sandee Perfetto

Source: Digital Insurance