The application of Internet of Things to Insurance and Banking....Auto tracking, House Insurance, inventory tracking, Trade tracking etc.
As M2M becomes more widely understood, the use cases for insurance will only be limited by the imagination of technologists and insurance managers. With UBI and telematics, devices located on a vehicle could transmit vehicle operation data (date and time, miles driven, speed, location, maintenance issues and air bag deployment) in real time back to the insurance company or the vehicle owner. That data can be used by insurance companies to provide more accurate rating information. For example, crop insurance is a little arcane when compared to other lines of insurance, but its use M2M technology is transferable to many other types of insurance. Crop Ventures is a company that has developed the capacity to monitor a myriad of data inputs coming from farm equipment such as a tractor or a combine.