1 2 3 The Dilemma of Smart Things 4 5 Enterprises across all industries are making big bets on a connected future. The internet of things market is expected to grow to 75.44 billion connected devices by 2025, with a projected market value of $1.1 trillion by 2026. 32,33 Insurers, too, are looking at ways that they can play a role in the smart device ecosystems emerging in homes, public spaces and workplaces, often in partnership with industrial equipment companies, tech companies, auto manufacturers, insurtechs, home appliance brands and other innovators. Generali in Italy, for example, has spun out an independent business As enterprises begin to design updateable products with the ability This applies to insurance as much as it does to other industries— called Generali Jeniot to focus on opportunities in connected to expand services and experiences in the future, they are making it a once stable product is evolving into a set of dynamic living services insurance. In partnership with organizations such as Fiat Chrysler possible to respond to changing customer demands and expectations with insurers like Generali embracing mobile apps and smart devices as Automobiles, DriveNow and Google, the company is developing at a moment’s notice. This sets the stage for feedback loops that support customer interfaces. In some cases, the aim is not only to gather richer a growing set of products powered by the internet of things and true partnerships, where companies can get closer to customers and data for underwriting or marketing, but also to interact with customers designed for the urban mobility, smart home, smart health and customers can see the value and utility of products grow over time. more often and deliver value-added functions such as lifestyle services 34 connected workplace ecosystems. or business advice. Enterprises across all industries are making big bets on a connected future. 34 Technology Vision for Insurance 2020 | We, the Post-Digital People