The new Red in our Life

Finally my little new red IOT Texas Instruments SimpleLink sensortag arrived from a long and expensive journey from the US.

It was not complicated to connecting the sensor with my SimpleLink app and with my local WLAN and to receiving the first data from the integrated nine different sensors.

Just some additional steps and minutes were needed to connecting the tiny little red magic with the IBM Watson IOT Cloud Quickstart Service.

Now the data was visible in Watson, but not yet useable for my individual software and rules development.

But again only some steps further and after a free registration for the IBM IOT platform data and functions were now also connected for individual further processing and for communicating from the sensor to the cloud and vice versa – with any programming language you like.

But as a lazy guy I didn’t chose one of my known and favorite classical environments.

I experimented with the new and free cloud based and visual IOT integrated RED developmentenvironment.

And within minutes again I created a flow which reads the temperature and pressure data from the tag, processes some rules based actions (later AI) and then decides to post a BIND against a Zurich building policy.

And nothing of the given process here is mocked or faked, everything real with real data and real processes.

And again, not the best use case for these new opportunities, but in my eyes an extremely impressive demonstration how the real world with sensors, some AI and OpenAPIs can work together with little programming to make the world a little more safer and comfortable.

I did this all in minutes, maybe all in all 3 to 4 hours. What if you have the time of a whole weekend like every developer has at our next new #Insurhack?

Register for free and code the next round with me.

A Technology Company also selling Insurance!

Insurtech like Fintech is, in my eyes, an overhyped topic. But don’t ignore the supposed ‘Insurtech threat’ and learn from and handle accordingly.

What indeed is more valid than in all IT decades before is mass technology in general is endangering the classical business models of insurers, especially within the P&C business.

And I don’t mean the companies and startups who are improving or reinventing classical business models and products with faster, better and cheaper new Internet technology.

I’m pointing to the companies who are selling these new mass consumer technologies very successfully.

Companies like Apple, Amazon, Microsoft, but also car manufacturers like Volkswagen or Daimler and all the others will enter the insurance market by selling consumer electronics and then bundling insurance products with electronic goods – the self driving car with motor, the home sensors with building or Alexa orders with household insurance.

Like electricity or 3G Internet insurance is becoming a commodity needed to operating these electronic goods.

This idea isn’t new, but it’s more and more leaving its hype cycle and incubator state.

Why I’m talking about this again and again, first started with the thesis Insurance Companies must become Software Companies (again)?

Because Insurance companies must transform themselves to technology companies. Not only to bringing back lost development capabilities to improving and developing own core systems or to inventing new customer centricity apps, but to developing (electronic) consumer goods which then can be bundled and sold with insurance.

Home automation and self driving cars are just the beginning and partnering with others is just a foundation and mitigation approach I believe.

Large global Insurers like Zurich, AXA or Allianz should be in the position to invest accordingly and to get back into the driver seat before it’s too late.

Insurance is a very slow, regulated and sluggish business. It will need decades for this transformation. This is good and and bad at the same time.

We still have time to react and we still have time to act, now it depends on the perspective.

Most companies think quarterly, often in costs optimizations and short term revenues/profits rather than in long term strategies.

This is why Amazon and Apple are different today, they think and thought and acted with long-term strategies and wide shoulders to stand up against the CFOs :-).