NTT DATA Study Finds Consumers Would Switch Insurers to Get Discounts for Using Smart Home Devices
According to research findings released by NTT DATA, two out of three U.S. homeowners insurance customers would be willing to change insurance companies to get policy discounts for using smart home devices, including smart thermostats, smoke/carbon monoxide detectors and garage door openers.
“Our study found that there is a large distinct group of homeowners insurance customers – 64 percent of survey respondents – who are willing to invest in smart home technology. However, these ‘Seekers’ are less loyal to their current carrier,” said Normand Lepine, senior practice lead, Insurance Data and Analytics for NTT DATA. “Seekers are the most important customer segment for insurers to pay attention to as they pose both a sizable opportunity for growth and a potential risk for disruption.”