A recent report from TCS shows that the insurance industry is expected to spend $102.9million on IoT-related technology and solutions in 2018 alone, up from $77.7million in 2015. This huge growth in investment demonstrates the financial potential of untapped data, and the ability to access this is now presenting the whole industry with a huge opportunity to reduce losses.
Founded upon its ability to predict risks, the insurance industry is a prime example of a sector that is under threat due to the adoption of IoT.
