Development of an IoT-Enabled Home Insurance Platform with Customer Self-Service Portal

The client faces difficulties servicing the homeowners insurance market due to high fraud rates, elevated operating costs, and declining customer trust. Policies are often canceled or left unrenewed, with an urgent need for digital transformation to improve customer experience, reduce claims severity, and enhance operational efficiency, especially in high-risk areas prone to natural disasters.

A regional homeowners insurance provider aiming to modernize customer engagement, reduce claims costs, and incorporate IoT technology for damage mitigation.

• Develop an intuitive, user-friendly customer self-service portal integrated with policy management, claims, CRM, and IoT device systems.
• Implement a multi-provider IoT device strategy, including water leak sensors, remote shutoff capabilities, and automated incident detection to reduce property damage and claims severity.
• Create a centralized data warehouse to aggregate data across multiple sources, enabling automated KPI reporting, real-time incident alerts, and advanced analytics.
• Reduce claims-related damages and expenses by enabling early detection of water leaks and other hazards through IoT technology.
• Proactively initiate First Notice of Loss (FNOL), streamline claims handling, and improve customer trust and satisfaction.
• Support future AI initiatives to enhance predictive analytics and fraud prevention.

• Self-service portal with policy management, bill payments, and claims initiation
• Complex integrations with policy administration, claims management, CRM, and third-party IoT devices
• Multi-provider IoT device management, including device registration, installation guidance, and real-time monitoring
• Automated water leak detection, notifications, and incident escalation workflows
• Centralized data warehouse to aggregate and clean data from multiple sources
• Business intelligence dashboard providing insights into claims, incidents, and KPIs
• Automated communication system for proactive alerts and customer support escalations
• Support for future AI modules for predictive modeling and fraud detection

• Policy administration and management systems
• Claims processing platforms
• Customer Relationship Management (CRM) systems
• Third-party IoT device management providers
• Notification and communication services (SMS, email, push)

• System scalability to handle increasing IoT device data and user load
• High system availability with 99.9% uptime
• Data security and privacy compliance, including encryption and access controls
• Real-time processing capabilities for instant incident detection and alerts
• Performance metrics ensuring low latency in user interactions and data retrieval

The implementation is expected to significantly reduce property damage costs and claims severity through early detection (targeting a $6 million damage avoidance within 12 months), improve customer trust and satisfaction via transparent self-service options, and streamline operational workflows. Additionally, the platform will enable data-driven decision-making, facilitate AI-driven fraud detection, and support scalable growth into new markets.