This report is the second instalment in our Horizons series, which examines technologies likely to shape the insurance industry over the long term. Where the inaugural report, "Horizons: Harnessing Insurance Technology for Tomorrow," mapped the broad set of emerging technologies and strategic trends, this edition focuses in depth on one of the most discussed— the Internet of Things (IoT).

IoT has long been touted as a transformative force for insurers: enabling richer risk data, new product models, real-time loss prevention and deeper customer engagement. In practice, however, its influence to date in the insurance sector has been more evolutionary than revolutionary. Adoption has been uneven across lines and geographies, and progress has been tempered by technical, regulatory and commercial barriers that slow scalable deployment. This report takes a pragmatic view of IoT’s current footprint in insurance, assesses the obstacles that have constrained its impact so far, and outlines practical pathways by which IoT can deliver sustainable value to insurers, intermediaries and policyholders over the next decade.

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Horizons: Harnessing Insurance Technology for Tomorrow - Horizon Scanning