Writer John Brownlee, recently summed up a topic that I’ve been struggling with for quite some time regarding the impact of the Internet of Things (IoT) and how it connects (or will ultimately connect) to every object in our homes. I’m probably in the minority here, but I just don’t see it. At least not yet. I fully embrace the IoT’s connectivity in the industrial sector.
But on the consumer level is the sun really rising and setting on our ability to communicate with our refrigerator, coffee maker or garage door?
The manufacture of sensors and related components on the other hand are fast finding their place in the world of automation.
IoT as risk management
The jury is still out on the IoT’s impact on the smart home but what IS turning heads, according to the aforementioned article on FCD, is the attention IoT technology is getting from Munich Re and why their interest speaks volumes on the IoT’s real-world applications.
Munich Re is an insurance and risk management company. According to its website, in the United States, “Munich Re operates through several US-based subsidiaries that provide coverage for non-life, life, or health insurance or reinsurance issues.”
These companies evaluate risks of every type and complexity and offer expertise, financial strength, and innovative solutions to strengthen your market position and create lasting value.
All about loss prevention
You’re asking why that should matter and I’ll tell you: from an insurance perspective, let’s say you’re a biomed insurer, and you have to pay off a quarter-million dollar claim because someone left the laboratory door open by accident, exposing sterile materials to dust and germs on the outside. As an insurer you’d want some way to detect that as soon as it as possible.
The use of IoT sensors that can send alerts the minute the temperature of air quality changes is worth its weight in gold.
And certainly more than your fridge telling you that it’s time to buy a quart of milk. But I digress.
What about for everyday people?
On a smaller scale I can see the smart-home application: a sensor that warns you the stove is still on thus sparing you the agony of a house on fire. Now that’s smart.
The reality of smart homes and smart cars and smart this and that is that sooner or later, it will all converge. But right NOW, it seems the IoT is on the brink of really shaking things up. Just ask your local insurance company.