The importance of edge computing for insurance companies

The Internet of Things (IoT) presents huge opportunities for insurance companies. At the same time, the rapidly increasing number of connected devices and related flows of data call for edge computing capabilities. Get insight into how your company will benefit from edge computing when integrating the IoT into your insurance business.

IoT technology in the insurance industry

The IoT helps insurers provide better services for their policyholders. IoT devices can monitor and alert policyholders instantly about incidents such as water leaks and fire to minimize damages. The immediate warnings from IoT devices can also help optimize break-in and asset monitoring.

IoT devices generate enormous amounts of data that need to be continuously monitored, analyzed, and acted upon. If this happens in a cloud, the costs are very high.

How does edge computing work?

Edge computing devices are still connected to a cloud, but the location of the processing is moved to the devices. So, in contrast to all data from the devices being sent to a cloud, edge computing means that data are processed locally on the device before only relevant data are sent to the cloud.

Benefits of edge computing for insurers:

  • Cost-effectiveness

By processing data and filtering irrelevant data near the source of generation, the bandwidth and cloud usage are reduced remarkably with edge computing. The reduced need for cloud transfer and storage means that costs are lowered.

  • Enhanced data security

By processing data without transferring them to the cloud, edge computing enhances data security. With the journey of the data cut short and the number of devices connected to a cloud reduced, the exposure to security threats is minimized.

  • High level of reliability

With edge computing, data processing can continue uninterruptedly even if there is a breakdown in the network. This means that your system will continue to function even if the connection to the gateway is lost.

  • Low latency

Latency is improved significantly with edge computing. Since the data from the devices do not have to travel far to be processed, edge computing enables devices to respond to commands instantly.

Get the benefits of edge computing with the Squid.link gateways

The Squid.link gateways provide you with the above-listed benefits as they enable edge computing. The modular nature of the gateways also provides you with a high level of flexibility when building your solution. With the market-ready, white label gateways, the time to market of your solution is also shortened remarkably.

Explore the Squid.link gateways

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