{"id":81385,"date":"2022-12-21T16:24:04","date_gmt":"2022-12-21T16:24:04","guid":{"rendered":"https:\/\/www.techrepublic.com\/?p=4014971"},"modified":"2022-12-21T16:24:04","modified_gmt":"2022-12-21T16:24:04","slug":"pepper-and-notion-launch-joint-iot-venture","status":"publish","type":"post","link":"https:\/\/cloudnewshub.com\/?p=81385","title":{"rendered":"Pepper and Notion launch joint IoT venture"},"content":{"rendered":"
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Image: elenabsl\/Adobe Stock<\/figcaption><\/figure>\n

Consumer IoT platform Pepper and Comcast\u2019s insurance tech unit Notion have combined, the companies announced, declining to name the financial terms. The joint effort will offer insurance companies IoT and smart home integration solutions.<\/p>\n

\u201cWe believe connected insurance tech is the next frontier of innovation in consumer IoT,\u201d said Scott Ford, CEO of Pepper. \u201cCombining Notion\u2019s leading smart property monitoring sensor system with Pepper\u2019s full-featured platform and service offerings will provide insurance carriers a customized suite of connected solutions through a seamless white-label approach.\u201d<\/p>\n

IoT and insurance: What is insurtech?<\/h2>\n

In essence, insurtech with IoT enables insurance carriers to monitor homes and businesses for signs of possible damage, including water leaks, fire, carbon monoxide, mold, open doors and windows, drastic temperature changes and other possible threats.<\/p>\n

SEE: <\/strong>Hiring Kit: IoT developer<\/strong><\/a> (TechRepublic Premium)<\/strong><\/p>\n

Pepper is a consumer IoT platform for businesses which seek to build, deliver and monetize secure connected devices and services. Current customers include consumer IoT brands, manufacturers, distributors, retailers and service providers.<\/p>\n

Notion makes smart property monitoring sensor systems that enable small business owners or homeowners to monitor property from an app.<\/p>\n

From there, the insurance company can lean on the data from those IoT sensors to reduce the frequency and dollar amount of insurance claims. Pepper and Notion claim home- and small business owners can save up to 20% on insurance by preventing possible problems before they happen. This is all part of a shift from a \u201crepair and replace\u201d business model to a \u201cprotect and prevent\u201d approach, Pepper and Notion said.<\/p>\n

Spherical Insights & Consulting predicts that the global insurtech market will grow to $167 billion by 2023. They also expect the U.S. consumer IoT services market to reach $25 billion by 2025.<\/p>\n

Who owns insurtech data?<\/h2>\n