B&TB&TB&T
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Search
Trending topics:
  • Cairns Crocodiles
  • Nine
  • Seven
  • Cannes Lions
  • NRL
  • WPP
  • B&T Women in Media
  • AFL
  • Thinkerbell
  • Pinterest
  • State of Origin
  • Anthony Albanese
  • imaa
  • Meta
  • ARN
  • AI
  • Spotlight on Sponsors
  • TV Ratings
  • Radio Ratings
  • Sports Marketing

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
Reading: Why The Internet Of Things Is The Ultimate Disruptor: A Case Study
Share
B&TB&T
Subscribe
Search
  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Technology
  • Regulars
    • Agency Scorecards
    • Best of the Best
    • Campaigns of the Month
    • CMO Power List
    • CMOs to Watch
    • Culture Bites
    • Fast 10
    • New Business Winners
    • Spotlight on Sponsors
  • Jobs
  • Awards
    • 30 Under 30
    • B&T Awards
    • Cairns Crocodiles
    • Women In Media
    • Women Leading Tech
Follow US
  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise
© 2025 B&T. The Misfits Media Company Pty Ltd.
B&T > Technology > Why The Internet Of Things Is The Ultimate Disruptor: A Case Study
Technology

Why The Internet Of Things Is The Ultimate Disruptor: A Case Study

Staff Writers
Published on: 10th December 2015 at 9:15 AM
Staff Writers
Share
2 Min Read
SHARE

The internet of things (IoT) will disrupt global insurance markets according to Accenture. The management consulting firm says “Insurers will need to dramatically reshape their business model, combining insurance with technology, ecosystem services and partners”.

According to the company the IoT is driving a connected, as-a-service economy, and forcing change upon the sector. For their part, the insurers already overwhelmingly agree, with 80 per cent saying they expect the IoT will disrupt their traditional way of doing business.

Accenture has identified three dimensions of the sector it says will be most affected:

  • Consumer Expecting not just a product but a unique “always-on” service oriented experience
  • Offerings and risks Moving from product to service, without ignoring the impact of new risk pools.
  • Competition New competitors creating contestable markets from unexpected industries.

Insurance companies will need to decide if they prefer the role of service provider where they focus on supplying innovative technology-based insurance products to a third-party ecosystem of if they are value aggregators where they will need to launch innovative and extended offerings, beyond traditional insurance, and directly selecting and managing the partners they need, according to the authors of the Accenture paper.

Accenture insurance

The report called Are you ready to be an Insurer of Things? argues that “The traditional business model for insurance, though still a tremendous source of revenue, is becoming less sustainable in the long term1 due largely to the rapid innovation that the Internet of Things is driving throughout the economy.”

The authors say market participants are  about to become “Insurers of Things.”

“Every industry is being disrupted by the Internet of Things (IoT)— the universe of intelligent devices, processes, services, tools and people communicating with each other as part of a global ecosystem. As technology evolves, products, homes, enterprises and entire cities will be continuously connected .”

As the IoT drives a connected, as-a-service economy, traditional insurers will need to decide whether to move up or out, they say.

This article originally appeared on B&T’s sister site www.which-50.com

Join more than 30,000 advertising industry experts
Get all the latest advertising and media news direct to your inbox from B&T.

No related posts.

TAGGED: Advertising Standards Bureau, einsights, organic media
Share
Staff Writers
By Staff Writers
Follow:
Staff Writers represent B&T's team of award-winning reporters. Here, you'll find articles crafted with industry experience spanning over 50 years. Our team of specialists brings together a wealth of knowledge and a commitment to delivering insightful, topical, and breaking news. With a deep understanding of advertising and media, our Staff Writers are dedicated to providing industry-leading analysis and reporting, both shaping the conversation and setting the benchmark for excellence.

Latest News

NSW Blues & Adidas Kick-Off Game III With ‘House Of Blue’
04/07/2025
TV Ratings (03/07/2025): Nearly 800K Tune In For Joanna Lumley’s ‘Absolutely Fabulous’ Danube Tour
04/07/2025
Google’s Veo 3 Being Used To Create Racist Videos For Social
04/07/2025
Enrichd Group & Greg Inglis Launch ‘Stick With It’ Mental Health Movement
04/07/2025
//

B&T is Australia’s leading news publication magazine for the advertising, marketing, media and PR industries.

 

B&T is owned by parent company The Misfits Media Company Pty Ltd.

About B&T

  • About
  • Contact
  • Editorial Guidelines
  • Privacy
  • Terms
  • Advertise

Top Categories

  • Advertising
  • Campaigns
  • Marketing
  • Media
  • Opinion
  • Technology
  • TV Ratings

Sign Up for Our Newsletter



B&TB&T
Follow US
© 2025 B&T. The Misfits Media Company Pty Ltd. All Rights Reserved.
Welcome Back!

Sign in to your account

Register Lost your password?