Earlier this week, Microsoft Ventures announced a partnership with American Family Insurance in an accelerator for home automation services.
The insurance industry has an obvious interest in the Internet of Things (IoT) as constant monitoring allows them to make more accurate assessments of risk and quickly adjust policies or premiums when circumstances change.
“We are focused on helping early stage companies bring new products and services to market that can make our policyholders’ homes and lives safer,” Microsoft’s media release quotes Dan Reed, American Family Ventures’ Managing Director as saying.
For consumers and the public at large, there a serious implications of constant monitoring by insurance companies, marketers and government agencies.
As Business Insider points out, Google already holds a massive amount of data on us all with Apple, Amazon, Facebook and Microsoft not far behind.
One of the key questions of the next decade is ‘do we we want our smart smoke detectors spying on us?’ and, if so, do we want it giving that data straight to the insurance company?