THE ROLE OF THE INTERNET OF THINGS IN DIGITAL TRANSFORMATION OF THE INSURANCE INDUSTRY IN VIETNAM
The world is entering the era of the Internet of Things (IoT), marked by the emergence of smart devices and smart homes. IoT refers to a network of interconnected objects and devices equipped with sensors, software, and other technologies, enabling them to collect and exchange data. This technology extends the benefits of the internet to all connected objects, not just computers. Once connected, objects become “smart” through their ability to send, receive, and act autonomously based on the data they process. IoT devices may include objects equipped with sensors to gather environmental data, computing units/controllers to process data and issue commands, or objects integrating both functions. This article examines the role of IoT in creating value for insurance companies.
Keywords: Internet of Things; Insurance; Digital Transformation
