CYBERSECURITY
WHAT INDEPENDENT AGENCIES NEED TO KNOW ABOUT SECURE IoT DATA by RedBird Security
The insurance industry sits on a goldmine of data, and independent agencies increasingly operate within the systems and workflows that move it. This industry has always relied on data to evaluate risk, price policies, and manage claims. What’ s changing is the speed and granularity of that data. Connected devices now give insurers access to realtime information about driving behavior, property conditions, equipment performance, and other factors that can influence risk.
Now, IoT( Internet of Things) data for insurance is becoming a core part of how policies are priced, how claims are processed, and how customers are served. But with that opportunity comes a serious responsibility: keeping that data safe.
HOW IOT DATA IS CHANGING INSURANCE WORKFLOWS
Insurers have traditionally evaluated risk using a combination of historical claims data, policyholder characteristics, geographic exposure, asset information, and other established underwriting factors. IoT data adds another dimension: continuous information about how a risk is behaving in the real world.
TELEMATICS, SMART DEVICES, AND WEARABLES
Today, telematics and connected devices are causing the shift.
Telematics: Auto carriers can use telematics data to evaluate actual driving behavior rather than relying solely on historical or demographic indicators. Agencies may not manage the telematics platform directly, but they still need to understand how these programs affect client conversations, data privacy, carrier workflows, and service expectations. Data such as mileage, hard braking, acceleration, time of day, and driving patterns can support usage-based insurance( UBI), risk segmentation, driver safety
14 KANSAS INSURANCE AGENT & BROKER