The introduction of smart devices and the Internet of Things (IoT) have enabled businesses to streamline and automate many of their everyday processes that were previously human driven. From smart burglar alarms to sensors that detect irregular actions, there is the potential for businesses to transform the way they operate.
These new technologies bring many benefits to businesses including:
- Security and risk management – smart devices enable SMEs to monitor their business premises remotely. If irregular movements are detected, notifications are then sent to their smart phones. Businesses can also control their premises from their smart phones, such as controlling lights, blinds and speakers.
- Efficiency – smart devices can automate business processes by removing the need for human intervention, therefore allowing them to work on other tasks and increasing the overall business efficiency. Other devices can also intelligently identify faults before they happen using sensors, and alerting staff that input needs to be made before the fault happens.
- Impact on insurance – as smart devices and IoT focus on detection of irregularities before they occur, the risk on an error actually occurring should be lower. SMEs should use this as an advantage when working with their insurers to create personalised premiums, taking into account their lower risk of an error occurring.Despite the many benefits of smart devices for SMEs, they also need to be aware of the security issues that come with connected devices. The more connected devices that are in use, the higher the chance of one of them being hacked. For more information on how businesses can protect their data and connected devices, contact Insync Insurance today. We can create bespoke solutions to meet your business needs so that you only pay for what you need.