<ul><li>The insurance sector is undergoing a transformation driven by the convergence of cloud computing and the Internet of Things (IoT), redefining how policies are managed, risks are identified, claims are processed, and customers are engaged.</li><li>The IoT insurance market is set to exceed $70 billion by 2029, with early adopters reporting up to a 40% increase in operational efficiency and flexibility compared to traditional systems.</li><li>A multi-layered architecture including device, gateway, cloud processing, and application layers supports the scalability and intelligence of IoT-powered insurance, revolutionizing core functions in auto and property insurance.</li><li>To ensure security and compliance, insurance IoT systems employ robust safeguards such as secure boot, encryption, self-protection mechanisms, and over 40 security controls in cloud-based systems, while focusing on seamless system integration and real-time reaction.</li></ul>

Smart Insurance: How Cloud-IoT Integration Is Redefining Risk and Engagement

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