IoT will lead to data capture and management at an unprecedented scale, according to the latest Emerging Risks report from Lloyd’s of London, the world’s leading specialist insurance market. The report was launched in the Innovation Lab at the Lloyd’s Building in London yesterday.
The Internet of Things (IoT) – devices that are connected to the Internet and collect and use data to operate – is about to transform society. Everything from smart fridges and lightbulbs to remote sensors and cities will collect data that can be analysed and used to provide a wealth of bespoke products and services.
The impacts will be huge – by 2020, some 25 billion devices will be connected to the Internet with some studies estimating this number will rise to 125 billion in 2030. These will include many things that have never been connected to the Internet before. Like all new technologies, IoT offers substantial new opportunities which must be considered in parallel with the new risks that come with it.
Loqiva’s CEO, Marcus Chidgey, was approached as an expert in IoT to provide input and comment on the report’s content. As a result, Loqiva has been highlighted in the report as an example of an IoT-capable citizen engagement platform.
For further information and to download the report, please click here. (See Box 17, Page 53 for Loqiva).