As technology and the internet of things (IoT) continues to evolve, connected devices, in turn, continue to proliferate within our personal and professional lives. Devices such as wearable sensors, connected equipment and industrial monitoring products that track and share data are helping insurers lower their cost of risk.

The Hartford’s IoT Innovation Lab, for example, is using the increasing availability and adoption of connected devices as an opportunity to reduce the potential for loss by using the data from these devices to raise risk awareness and improve safety conditions for its commercial customers.