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“Accessory Overload: Wearable Technology’s Impact on the Insurance Industry,” ICMIF Voice

“We are in the nascent stages of the ‘smart’ transition from handheld devices to wearable technology,” write Jonathan L. Schwartz and Michael A. Hamilton, partners in Goldberg Segalla’s Global Insurance Services Practice Group, in the monthly publication of ICMIF, the federation representing the global mutual and cooperative insurance industry. “Insurance is right in the middle of it, as wearable technology has a variety of beneficial applications for the industry. … At the same time, this new era of big data provides increasing legal, technology, and privacy challenges for the insurance industry.”

From claims investigation and processing, inspections and appraisals, and evidence collection to privacy concerns, data management, and possible health detriments, Jonathan and Mike explore a number of the opportunities and potential pitfalls presented by the explosion into the market of devices like smart watches and glasses, fitness bands, wearable cameras, and more.

Read the article here: