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Internet of Things, Augmented and Virtual Reality: Remote Sensing Tools for Insurance Value Chain

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19 December 2020
Max Ang

Abstract

Today's technological innovations are increasingly powered by artificial intelligence, fuelling possibilities for novel technological development and application. In this report, we will examine how the Internet of Things (IoT), augmented reality (AR), and virtual reality (VR) could support (or are supporting) the insurance value chain, empowering insurers, policyholders, and domain specialists.

Sensors and self-tracking devices are providing new data insights for insurance. AR and VR are remote technologies that are gaining continual application for education, training, claims, and risk management. This report cites past Celent reports from insurance, wealth management, and payment practices on IoT, AR and VR. In addition, use cases from domains outside of financial services are shared to provide a general overview of remote sensors and digital immersive applications. This report aims to provide an updated view on emerging technology in a post-pandemic future.

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