New tools and ways of doing business are required to stay relevant and compete with the InsurTechs, particularly with younger policyholders.
The insurer has added the new service to its existing Roost Protection360 Commercial Property Telematics Service.
Beyond digital transformation based on largely proven technology, insurers must patiently explore the capacity of emerging technologies, such as AI and Big Data, for reshaping business processes over the longer term.
The unmatched advantage of fiber optics is that, unlike discrete sensors that have to be placed on the precise detection spot, linear fiber sensors utilize the entire length as a continuous detector to provide hundreds of separate sensing points.
The offer, which includes financial incentives from American Family and Ring, exemplifies a trend of new insurance offerings that use IT-driven services that prevent losses and increase customer engagement.