SMART SUMMIT London – The Opportunity for New Business Models in IoT
Last week was the third edition of Smart Summit London. Smart Summit London is Europe’s leading IoT and connected living event.
The conference attracts attendees from all over the world from diverse fields. From government to smart home OEMs as well as telecom operators, healthcare organizations, insurance or semiconductor companies. 65% of the attendees are from senior management level or higher. All were present and brought innovative ideas and network opportunities with them.
The six stages, the conference featured, highlighted its innovative and comprehensive program. All the stages; Smart Homes, Smart Utilities, Smart Cities, Smart Insurance, Smart Retail, LPWAN World Forum, were designed to complement each other. Through the 180 visionary speakers these stages displayed the IoT ecosystem and how it will impact our digital society.
The conference covered many interesting and innovative topics and ideas. A good example is the talk of Maarten Ectors, of Legal in General, about Transforming Potential Disruptors into Constructive Innovators.
At Digital Salutem, we pride ourselves in collaborating in innovation contributing with our expertise and developing relationships with stakeholders and innovators.
Our CEO, João Bocas, a recognized thought leader in Digital Health, named in the Top 100 Global Digital Health influencers and expert in wearables and innovation, was invited to share this knowledge at the Smart Insurance Summit stage. The learning opportunities were great, especially for those working in the insurance industry. They got to gather insight and knowledge about what this new digital society means for and how it will reshape their current business in the future.
João Bocas discussed connected health and the opportunities this for new business models in the insurance industry. He gave insight in how this new digital society can be beneficial and cost effective for both health insurance companies and their customers and how wearable devices play a key role in these new models.
To finalize we would just like to say that this event gave great insight into our smart, even so close future. For every business it is of the utmost importance to plan and make sure you are ready for it so you can keep your competitive advantage. Many questions are still to be answered when it comes to IoT innovation. Here are some questions you should ask yourself when you are in the insurance business.
- How is IoT transforming your business?
- Evaluate the true potential and direct impact right now and in the future remains a huge challenge
- Find the right expertise to solve complex IoT challenges
- In which ways are you adapting business models to leverage IoT capability?
- Innovation is a must have and not a nice thing to do anymore. IoT must become a forefront of any Insurance carrier.
- How are new connected services changing insurance propositions?
- For example in health insurance we start to see examples where connected health devices can be used to engage and compensate consumers.
- How are insurance providers leveraging data to better engage with their customers?
- Getting insights about your customer is extremely important. This makes that you can truly disrupt with new business models and maximize the opportunity to upsell other products.
- What are your predictions for IoT transformations in the insurance industry over the next couple of years?
- IoT will be the norm is a few years’ time. Right now we live in the connected world and the tendency is to gradually become even more connected, whether we are talking about people, transport, healthcare, leisure or even education.
Sooo…. Make sure you are ready!
If you would like to receive any advice or more information regarding the best ways to innovate and use IoT in your business. Please don’t hesitate to contact us.