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Assurant Creates ‘Connected’ Division

New unit draws from mobile, CE and majaps 12/02/2014 11:15:00 AM Eastern
Take Away

IDC forecasts an $8.9 trillion market for IoT products and services by 2020.

Atlanta — Extended-service underwriter and administrator Assurant Solutions has created a dedicated division for Internet of Things (IoT) products.

The company’s new 1,700-person Connected Living unit was born of its mobile services division and is headed by former mobile president Manny Becerra, who retains his president-level post. The new operation also draws from Assurant’s CE and majap groups. Services include technical support, repair and logistics, and identity theft and data security solutions.

“People are increasingly dependent on connected products to manage their lives,” Becerra said. “We’re keeping products connected to each other, customers connected to their products, and clients connected to their customers.”

Assurant cited data from market research firm IDC that projected an $8.9 trillion market for IoT products and services and some 212 billion connected items by 2020.

Take Away

IDC forecasts an $8.9 trillion market for IoT products and services by 2020.

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