Connected devices could hit a tipping point says Broker Forum speaker

Published: March 3, 2017

Updated: July 24, 2018

Author: Luke Jones

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A speaker suggested on Wednesday at the Insurance-Canada.ca Broker Forum that connected things will play a major role in the future of insurance, but a “tipping point” is coming.

Ryan Spinner, head of innovation with Aviva Canada was talking as part of the panel titled Distribution in the InsurTech Age at the broker forum. He cited connected smoke alarms and thermostats not working as being a problem if the “whole house is offline.”

“I think the house can actually call 911 on my behalf,” he suggested. “I don’t think I need to call 911. I think the house can start the claims process for me. I don’t think I need to call 911 or call my broker or call my agent. I think the house can do that.”

“I think we’re actually very close to that,” he said. “I think it’s going to happen quicker than we can all imagine.”

Spinner says you could even switch the scenario to a car accident. “I think the car can start the claims process for me. I think the car will also start not only the claims process, but will also have a simplified supply chain, so parts are ordered to the correct dealership and what not,” Spinner said. “When we start getting into driverless vehicles, I’m sure the tow truck industry is going to start getting very nervous when a driverless car comes to pick you up at the scene of an accident.”

“The technology is advancing so quickly,” Spinner added, “personally what I think we are going to see is dedicated lanes devoted to driverless cars… [or] 50 to 100 transport trucks without drivers driving right beside each other from Windsor to Vancouver.”