IoT technologies will provide the insurance industry with new tools such continuous monitoring with sensors for sensitive food and drug shipments, wearables for machinery users and many other devices that monitor operations, prevent fraud prevention, and improve claims management and customer engagement. This can include “pay-as-you-go” or “pay-as-you-live” insurance products that are enabled by IoT.

Sourced through Scoop.it from: www.paymentsjournal.com