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Insurance Industry: Citi: Insurance disruption as companies could start tracking workers - by Bob Bryan

Imagine a world where a worker punches the clock and slips on a heart-rate monitor that's tracked by an insurance company.

The worker turns on a truck, which alerts the insurance company it's on, and drives to a warehouse, which alerts the insurance company that someone is there.

Every inch, every activity, monitored and measured by the insurance company.

According to analysts at Citi, this is the future of work, and, despite its Orwellian overtones, it's a good thing.
Todd Bault, James Naklicki, and Alex Gifford at Citi identified numerous trends that could disrupt the insurance industry as it's constructed, and one of the most interesting was their idea of "the Feed."

The Feed would be a real-time link that connects businesses, equipment, facilities, workers, and the insurance company, providing real-time updates on how risky a given situation is.

"But the potential here seems higher for commercial lines: with fewer or no privacy issues, and existing pervasive automation, it seems like a smaller step to embed IoT into industrial (manufacturing) and service (venues) processes, not to mention commercial auto activities like trucking and livery," said the analysts. "Employees in certain high hazard occupations could even be wired and monitored, though there could be resistance here."

By monitoring these operations in real time, the analysts think this could lead to a multistage revolution in the insurance industry.

Read more:Citi: Insurance disruption as companies could start tracking workers - Business Insider

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