Connected homes improved insurance

Achmea, which offers a wide range of financial products and services, including home insurance, wanted to explore new, technology-inspired business models for reaching low-income market segments that proved underserved by its current offerings. Achmea started this initiative to stay relevant in the market for home insurance.

Accenture helped the company develop a very successful peer-to-peer alarm platform pilot that allows neighbors, friends, and family to help each other in case of fire or burglary.

The insurer recognized the need to develop new business models and therefore sought to explore new, technology inspired business models to:

• Find new revenue streams;
• Reach an underserved market segment (in this case, low-income households);
• Bring down the cost of claims and increase revenues within the segment at hand;
• Fuel its corporate social responsibility program.