& cplSiteName &

Comcast, Hippo Offer Home Insurance With IoT-Powered Savings

Mari Silbey
5/22/2018
50%
50%

Always intent on expanding its broadband-based revenue opportunities, Comcast is introducing a pilot program in Houston that ties together home insurance with Xfinity Home services and devices. The offering is made possible through a deal with insurance broker Hippo. Comcast customers in the region are entitled to an automatic discount when they sign up for Hippo insurance, and they earn access to additional savings when they install an Xfinity Home security system and use products like Xfinity connected smoke detectors.

Comcast Corp. (Nasdaq: CMCSA, CMCSK) plans to expand the program to more customer markets later this year.

While technically a new endeavor, Comcast's arrangement with Hippo certainly isn't a new idea. Cable companies have been trying to figure out how to generate more money from home security offerings for years. Comcast introduced its original Xfinity Home Security service in Houston nearly eight years ago, and even then, it connected the offering to potential home insurance savings. (See Comcast Targets Home Security Market.)

The Xfinity Home service of 2018 is more sophisticated than its predecessor, but the concept hasn't changed. Comcast has a communications network that can power smart home and security functions. It's using that network to bring in new revenue, while also appealing to partners for cross-marketing and sales agreements that have the potential to benefit multiple parties.

A Comcast spokesperson likens the home insurance idea to what car insurance companies are doing with vehicle monitoring. "It's sort of like the telematics idea with car insurance companies," he noted in an emailed statement. "If you as a driver put a device in the car to monitor how well you drive, then you can be eligible for lower premiums."

There are two components to Comcast's broader smart home strategy. One is the managed security offering known as Xfinity Home. The second links Xfinity smart home devices -- thermostats, cameras, smoke detectors, etc. -- to Comcast's xFi home networking system. The latter makes new products and services automatically available to any subscriber with a compatible Wi-Fi gateway. More than 15 million customers have those gateways installed today. (See Comcast Unlocks xFi-Powered Smart Home.)

As a long-term vision, Comcast is building an operating system that can work across a multitude of connected devices. With that OS in place, it's a logical next step to introduce new value-added services, all of which ride on top of Comcast's network and software platform.

Want a little trip down memory lane? Here's a brief look at Comcast's evolution in the smart home market.

— Mari Silbey, Senior Editor, Light Reading

(2)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
kq4ym
50%
50%
kq4ym,
User Rank: Light Sabre
6/7/2018 | 7:25:49 AM
Re: Hmm
The trade-off of course is that to get that discount on insurance or other services is that some privacy may be given up as the IoT devices upload information to the providers who may or may not share that info with others. There's still no free lunch even though some convenience may be traded from valuable information from consumers.
Frank1956
50%
50%
Frank1956,
User Rank: Light Beer
5/22/2018 | 7:11:18 AM
Hmm
Well this is quite interesting, I will follow their mvoes.
Featured Video
From The Founder
John Chambers is still as passionate about business and innovation as he ever was at Cisco, finds Steve Saunders.
Flash Poll
Upcoming Live Events
September 12, 2018, Los Angeles, CA
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 6, 2018, London, United Kingdom
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
Telecom Jargonosaurus Part 1: Repeat Offenders
Iain Morris, News Editor, 7/13/2018
AT&T's Stankey Serves Up a Stinker at HBO
Iain Morris, News Editor, 7/10/2018
Broadcom Buys CA – Huh?
Mitch Wagner, Executive Editor, Light Reading, 7/11/2018
Verizon Taps Malady as Acting CTO
Dan Jones, Mobile Editor, 7/12/2018
FCC's Rosenworcel: US 'Falling Behind' on 5G
Iain Morris, News Editor, 7/13/2018
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed