IoT devices give insurers a steady stream of data that helps them make more accurate risk assessments. Insurers will still need to subsidize those who pose a higher risk, but better risk models will yield more equitable premiums. This will also help them learn more about their customers and create better products and services that address their specific needs. IoT is the best idea for Insurance companies which have their own mobile apps. Furthermore, the data gathered by connected devices will help insurers drive strategic initiatives. Risk management The Internet of Things (IoT) is a network of connected devices that…