Skip to main content

Amazon reportedly weighs entrance into home insurance biz

Amazon could be getting into the home insurance business, according to a news story published today in subscription technology publication The Information. The Seattle-based tech and e-commerce giant has been creeping further into the home services sector recently. In May, Amazon and home construction company Lenner announced a partnership to build new smart homes with, “built-in Wi-Fi, smart locks, doorbells, thermostats and lights — all controlled by Alexa.” There have also been some signs, and lots of speculation , that Amazon may be considering entering the mortgage market either on its own or by partnering with existing lenders, though no concrete plans have been announced or leaked in that department yet. Amazon is also reportedly engaged in a no-longer top-secret plan to development robots for homes — not exactly like the maid Rosie from the futuristic cartoon The Jetsons — that could act as a mobile Alexa device and monitor home security. Theoretically, the home insurance program could work as an offshoot of these home security devices, as the robot could look out for things like smoke, detect a loud crash or monitor entrances and exits. It’s not uncommon for insurance companies to partner with companies that make smart home devices. In 2016, Liberty Mutual partnered with August Home , a maker of smart locks, to offer insurance customers that purchased a smart lock through the company, a discount on insurance, according to The Information. There’s been some technology gains in the home insurance sector in recent years. Lemonade , a New York-based fintech company is among the contenders that have attempted to disrupt the traditional market model and offer lower-cost home and renters insurance. In the wake of Amazon’s supposed foray into the insurance sector, insurance company stocks are trading down, according to CNBC . A similar drop occurred when Amazon, Berkshire Hathaway and JPMorgan announced plans to disrupt the health insurance marketplace in January 2018. Amazon did not respond to a request for comment.
Labels:

Comments

Post a Comment

Popular posts from this blog

Study: Majority of U.S. Broadband Households Concerned About Security of IoT Devices

As Internet-connected devices become more ubiquitous, security and privacy concerns of end users are also on the rise. Simply installing security systems in smart homes is no longer enough. Security integrators must also consider bolstering cybersecurity measures when installing their systems. A recently released whitepaper from IoT research firm Parks Associates, titled “Residential Security and Encryption: Setting the Standard, Protecting Consumers,” reveals that 64% of U.S. broadband households are concerned about security and privacy when using their connected devices. Parks Associates also found that the majority of homeowners assume security integrators are addressing their cybersecurity concerns. In fact, a Parks Associates survey of U.S. security owners found 63% of professionally monitored subscribers believe the wireless signals from their system are encrypted, even though encryption is currently not the industry-wide standard. While the whitepaper outlines a few ...
Post a Comment
Read more

The Benefits of a DIY Home Security System

This week’s mailbag addresses the pros and cons of a DIY home security system, how to browse the internet without being tracked, the best way to secure firearms in your home — and more. Let’s get started. I am investigating home security systems since I am not at home constantly. What are some things I should look for in a good home security system? Do you have any recommendations? — Ken R. First, decide whether you want to install a “do-it-yourself” home security system or have a professional company come to your home and install it for you. Before making this decision, check with your local police department and ask if they respond to residential alarms. In most larger cities, they won’t — but the company providing your home security usually has private guards who will respond. If you live in a small town like I do where the police department does respond to intrusion alarms, you might want to go with an alarm company. If you live in a ...
Post a Comment
Read more

Home and Consumer IoT Security Solutions

Why Consumer IoT Products Need Security Home IoT products offer many conveniences but there are massive amounts of private consumer data being transferred to and from these services vulnerable to attack if left unsecured. Security across an entire IoT home demands proper device authentication and data encryption to ensure that all connections are trusted and communications are protected. PKI Isn’t Just for Web Security Despite common misconceptions, PKI is a perfect match for the exploding IoT sector, providing trust and control. An ideal security solution for smart homes and appliances, PKI can be incorporated during product design, build, deployment, or ongoing maintenance. Streamline management for all your IoT certificates using our scalable platform. Provision, issue, renew, and revoke certificates in one place without additional hassle or manual error. Secure storage and management for certificate keys Custom certificate profiles Automated high-volume deployment Scanning an...
Post a Comment
Read more