Understanding IoT in Supply Chain Management

The Internet of Things refers to the network of smart devices tuned and connected into a comprehensive infrastructure with digital means to record, transmit, store, and analyze data. Without proper connection, the usability of IoT devices is severely limited and they cannot perform the full potential of their functions. 

Most commonly, logistics applications use such smart technology as GPS trackers, temperature sensors, accelerometers, imaging devices, and so on. They can collect data regarding environmental conditions during transportation and storage, the route and current position of a truck, and other relevant factors. 

To perform and improve the methods of supply chain management and logistics, the IoT infrastructure should include the hardware and software to store, maintain, and analyze the collected raw data. They require significant investments but offer considerable benefits that are well worth their price and ultimately result in cost savings and other optimizations. Let’s take a look at some of the most prominent advantages of IoT technologies in supply chain management.

Key Benefits of IoT in Logistics and Supply Chain Management

The implementation of IoT technology in logistics brings many advantages to different types of businesses. Virtually every stage of the supply chain can benefit from smart technologies and turn them into process optimization and financial profits. Moreover, the advantages of IoT are highly viable for different businesses and even industries that one way or another deal with logistics on a regular basis. Mining companies, storage facilities, delivery companies, and manufacturers of finished goods are just a few examples of such businesses.

Let’s take a look at a few illustrative advantages of implementing IoT technologies in supply chain management and logistics.

Improved Visibility and Transparency of Operations

IoT enables constant tracking and logging that greatly improves the visibility of all logistics-related processes. At every step from the supplier to the customer, the route and state of transported goods are monitored to ensure their proper condition and delivery time.

Smart technologies also improve security by making it much harder for criminals to steal from batches or shipments. In many cases, owners can track stolen goods using GPS data and inform the police about the current location of thieves. For example, Lowe and Home Depot implemented a combination of RFID and blockchain to detect stolen power tools and make them unusable without the proper point-of-sale activation. Other major retailers, such as Walmart and Target, also introduce complex anti-theft solutions that use IoT, AI, and other digital technologies to mitigate and prevent losses due to increasing crime activities.

Improved Utilization of Resources and Assets

The Internet of Things offers logistics managers many possibilities to optimize their storage and transportation resources. Modern industries use various devices that read barcodes, QR codes, RFID tags, and other marks to collect relevant data about goods. This method is especially popular among retailers that have many warehouses in different locations, including such leading enterprises as Amazon and eBay. 

IoT also enables further automation with the help of robotics, which leads to reduced workforce and operational costs. Smart devices also allow logistics managers to monitor the location and state of transport vehicles which is helpful for reducing downtime and scheduling maintenance. 

Improved Cooperation Between Departments and Branches

The management of logistics and supply chains in large enterprises with a wide network of offices, warehouses, and sales outlets is extremely complex. Luckily, it can be effectively optimized and simplified with the proper digital infrastructure that relies on IoT technologies. All relevant information collected from different smart devices within enterprise property can be transferred for processing and storage in a data center located on-premises or owned by a cloud service provider. This way, data can be easily available to employees at any authorized access point, such as at any office, store, or warehouse.

Improved Collaboration with Suppliers and Distributors

Data from GPS trackers installed in transport vehicles can also be shared with the relevant partners. This way, the logistics company can inform them about the location of vehicles that are supposed to pick up or deliver shipments. The improved automation and control provided by IoT technologies greatly streamline cooperation by making operations transparent and predictable. This is especially useful in relations between transport companies and retailers or between suppliers and producers, for example, between a mining company and a refining factory or between a farming company and a food processing plant.

Improved Working Conditions and Compliance

The use of IoT in supply chain management reduces human involvement by relieving workers from tedious routine activities. The extensive use of automation combined with AI and robotics also takes over the most dangerous and heavy-duty tasks, including loading and unloading, sorting, and so on. 

Moreover, enhanced control resulting from the implementation of IoT can ensure the company’s compliance with applicable regulations regarding the safety and security of goods, workforce, and other assets. This advantage is especially useful when a company deals with products and materials that are subject to specific legislation, such as hazardous chemicals, food products, pharmaceuticals, and others.

Additionally, IoT technologies are widely used in logistics and retail industries to monitor and control environmental conditions in storage facilities and transport vehicles. Most often, smart devices are configured to measure and maintain temperature and humidity within predefined ranges to avoid spoiling of perishable products. As one example, Maersk, which is one of the global leaders in the logistics industry, is known for its effective implementation of IoT in the company’s warehouses and shipping containers.

Improved User Experience

Transparency and predictability of logistics operations provided by the Internet of Things also appeal to customers of retailers and delivery companies. The ability to track a parcel and know the time of delivery has become a convenient standard for most international and local companies that send products to individuals. Barcode scanners identify shipments automatically and GPS trackers send relevant data to consignees periodically or in real time. For example, parcel-related information is usually shown to respective authorized users in a mobile application or on the website of the respective store or delivery company.  

Improved Business Planning

Numerous benefits of IoT in logistics and other industries enable new possibilities for the optimization of existing methods and devising new strategies. Information obtained from smart devices can be analyzed by human experts and AI to detect flaws, prevent accidents, improve workflow, and ensure uninterrupted operation. The comprehensive analysis of structured data may reveal new business opportunities and ways to improve existing strategies. 

These days, most logistics companies are actively implementing “green” standards by reducing emissions and waste that are commonly associated with transport vehicles. As one example, the combination of IoT, AI, and Big Data can be used to correlate GPS data from trucks with local traffic and weather information to optimize delivery routes depending on the season and time of day. As a result, a logistics company can reduce transportation and maintenance costs and build a positive reputation as an environmentally friendly business at the same time.

IoT Applications in Supply Chain

Considering the range and potency of benefits described above, many aspects of the logistics routine can be greatly enhanced using IoT devices. Let’s take a look at some processes involved in supply chain and logistics that make an effective use of smart devices.

Shipment and Delivery Tracking

The use of geolocation services has proven its overwhelming effectiveness in monitoring the transportation of goods and raw materials. These days, a small GPS tracker is a reliable and accurate source of real-time location data which allows business owners to know the whereabouts of their trucks, products, and raw materials. Thanks to IoT technologies, customers can easily track their parcels and see the estimated delivery date and time of their purchased goods. 

Warehouse Capacity Monitoring

IoT technologies improve the management of storage facilities by tracking the occupied and available capacities. This is especially useful in the case of the intense flow of incoming and outgoing freight. For example, logistics managers can know in advance whether a warehouse will be able to accept incoming cargo and what storage volume becomes available every time shipments are loaded in trucks.

Inventory Management

In addition to tracking storage capacity, IoT technologies greatly simplify the monitoring and audit of the current inventory. For a retail company, this involves determining what goods are out of stock and what range of commodities are available at the moment. In this case, such information can be reflected in the online shop of the retailer, so that customers who browse goods using a mobile application or a website can see the current stock. This information is constantly updated thanks to the well-designed infrastructure of smart devices functionally connected to data storage and processing means. Through this intricate network, information obtained, for example, from barcode scanners and RFID tags is transformed and relayed to a shopping app.

Storage Conditions Monitoring

Most products and raw materials require maintaining a specific environment for storage and transportation. If proper conditions are not met, the goods could spoil, become damaged, or lose their marketable appearance. Raw materials could degrade in quality, change their

chemical composition, and lose specific properties, making them useless in processing and manufacturing. To prevent such disastrous effects, many industries employ monitoring systems that include sensors and meters capable of measuring temperature, humidity, pressure, light intensity, and other environmental conditions. If any measurement falls outside the predetermined thresholds, the relevant product or material should be inspected to reevaluate its quality.

Routine Optimization and Automation

Many other operations that require human involvement and a “pen-and-paper” approach can be streamlined with digital technologies. The Internet of Things promotes automation and reduces the need for human operators to perform routine repetitive tasks. The combination of IoT with other digital technologies, for example, AI and ML can further increase the possibilities of automation and create new ways of supply chain optimization. Moreover, such a combination allows engineers to develop new business strategies, minimize accidents, and perform other improvements.

Challenges and Solutions in the Supply Chain and Logistics Industry

These days, it becomes increasingly difficult to run a profitable supply chain and logistics business. Let’s review several challenges that are common in this industry and see how they can be mitigated using IoT technologies.

Ineffective Business Processes

Business strategies require constant optimization and modernization which demand research and investments. Changes in the global economy and local markets directly impact the profitability of existing schemes and methods. IoT provides valuable information to analyze and find ways to improve business processes, create new strategies, and discontinue ineffective approaches.

Increasing Costs of Transportation

Oil shortage, rising gas prices, and growing traffic in popular areas increase the costs of transportation, making most businesses less profitable. Since most industries rely on transportation services in one way or another, the said increase creates a chain reaction of growing prices in many other fields. That’s why analysts and engineers use IoT to optimize routes and find new effective ways to deliver products and raw materials.

Environmental Impact

Environmental awareness has changed from a fancy trend to an absolute necessity for any company that wants to build a good reputation on the market. Optimization and monitoring provided by IoT help businesses turn green by cutting emissions and reducing waste. Trucks, vans, and other vehicles commonly used in logistics are notorious for being gas guzzlers. That’s why any optimization in supply chain management would be beneficial for both business and the environment.

Growing Customer Expectations

Technological progress spoils customers by making them demand better services at lower prices. These days, businesses must indulge these expectations in order to retain their existing client base and attract new customers. IoT helps logistics companies reduce delivery time, ensure shipment safety, and share required information with customers using mobile devices or other convenient means of communication.

Regulatory Compliance

Transportation and storage of many materials and goods are strictly regulated by various standards and laws. Luckily, IoT provides sufficient control, monitoring, and security to comply with such regulations. Smart devices ensure video surveillance, location tracking, authenticity verification, and other means to keep deliveries safe.

IoT Implementation Strategies

Similar to other digital technologies, the implementation of IoT requires a lot of planning, investments, and customizations. It’s not enough to simply buy and install smart devices to use them effectively for business optimization and other benefits. Here are a few essential steps of IoT integration:

1. Evaluate the scale and needs of your business.
2. Plan the “smart” infrastructure that solves your needs.
3. Create and configure a data center to process and store information.
4. Acquire, install, and connect smart devices, such as cameras, trackers, routers, etc.
5. Prepare and configure software that ensures proper functioning of hardware and transfer of data.
6. Process information into a structured form for further analysis.

This is the most basic strategy that must be refined and customized for each specific business and its requirements. 

Future Trends in IoT and Logistics

One of the most promising future trends in logistics is the 100% automation of most processes. From self-driving delivery trucks to loading robots, IoT will soon turn many of these sci-fi concepts into our everyday reality.  

Another interesting trend is the shift from gas-fueled delivery vehicles to electric cars and even drones. Amazon already uses drones to deliver parcels in specific areas in California and Texas. It is safe to assume that other businesses will eventually copy this initiative and find ways to remove current technological limitations and further improve logistics efficiency.

The global coverage of 5G and other network technologies is growing every day, resulting in better connectivity for smart devices. With the development of satellite Internet services, as shown by Starlink, the benefits of IoT will be more accessible even for the most remote corners of the world.

Final Thoughts

The Internet of Things has already brought many advantages to the supply chain and logistics, as well as many other industries. With all the information stated in this article, one can reach a conclusion – the longer you delay the implementation of IoT in your supply chain business processes, the harder it will get for your business to succeed on the market in the near future.

In case you’re looking for a reliable company with solid experience in providing IoT solutions for supply chain management and logistics, we suggest you consider hiring the Intellectsoft team. Just like implementing the Internet of Things in your processes, working with Intellectsoft has many perks. Here are only a few benefits of choosing us to create custom solutions for your business:

• We use a wide range of programming tools and technologies for creating mobile, web, cloud, desktop, and other solutions.
• We provide top-quality solutions for businesses of all sizes – from startups to Fortune 500 enterprises like Nestle, Mitsubishi, Intel, Melco, Harley-Davidson, and others.
• Over 15 years, we have delivered 600+ bespoke digital solutions for our clients. 
• We have an engineering workforce in 21 countries.

So, if you want to empower your supply chain and logistics business with IoT solutions, get in touch with us right away to leave your competitors far behind.

The post Unlocking the Potential of IoT in Supply Chain and Logistics appeared first on Intellectsoft Blog.

Intellectsoft has been developing solutions for numerous industries and case studies. We‘ve seen innovators and disruptors use IoT to beat out inefficiency and competitors in the process.

Here’s our account of automotive IoT as developers, consultants, and creators of scalable enterprise software for Fortune 500 clients. Decide whether a custom IoT solution can elevate your place in the industry through multi-directional benefits and a fresh edge in automotive.

We cover: the definition of connected cars, why IoT in cars is changing the industry, and the challenges to anticipate as you move toward IoT innovation.

What is a Connected Car? Defining Automotive IoT

Automotive IoT (Internet of Things) refers to the integration of internet-connected sensors and devices in vehicles, enabling data collection, analysis, and communication to enhance vehicle functionality, safety, and performance. Accordingly, a connected car is a vehicle equipped with IoT devices that enable high-end functionality like internet connectivity, AI-aided navigation, entertainment, safety features, and remote monitoring.

Software development is the backbone of IoT automotive devices, underpinning their functionality, security, and adaptability. Below, you will find the analysis of benefits vs. challenges in the emerging sector of the IoT-driven automotive industry, as well as predictions for the future development.

Benefits of IoT in the Automotive Industry

IoT vehicles stand to completely remodel the automotive industry, not unlike the explosive acceleration of language models do for businesses in every sector.

Adding better communication between machines, infrastructure, and more means companies save money and customers soothe the pain points of buying, operating, and maintaining vehicles of the past.

Improved Vehicle Performance

With improved customer data collection and machine learning-enhanced analysis, both corporate and consumer interests intersect through more solid inventory control, better supply chain management, and reduced energy expenses.

IoT-connected cars use real-time data to elevate in-car experiences through driver assistance and nearby-vehicle communication. IoT cars can then bring route planning optimizations as well as preventative maintenance measures. All this reduces the chance that drivers will suffer driving inefficiency or unexpected vehicle performance hazards.

For manufacturers and retailers, better vehicle performance translates to cost-saving production and optimized inventory control. The consequence becomes higher profit margins and more competitive pricing on all sides.

Enhanced Driver Convenience

Through praised features like remote unlocking, vehicle “summoning,” and GPS navigation‒customers already enjoy a most reliable way to enjoy IoT in cars. But, IoT vehicles also use sensors to give customers more timely repairs‒before breakdowns or service interruptions take hold.

When downtime is reduced, and maintenance needs are better predicted, both servicers and the customers they support are empowered through fleet management of the future. From tracking to scheduling and repair, commercial and individual customers can now optimize effort and investments for less strain and more support.

As fleets take on the functionality and features of automotive IoT, costs are cut, efficiency is enhanced, and productivity (in-person and remote) is pushed to its extreme. With more on-time orders, improved responsiveness, and safer vehicle operation, you can easily see the path of least resistance for customer satisfaction and corporate success can be found in smart cars and their IoT software.

Increased Safety Features

Advanced IoT features artificial intelligence at the forefront, but it also facilitates safer car-to-car communication and driver assistance. As AI-centered systems improve the driving experience, they also enhance its adaptive, responsive, and lane-keeping safety.

With vehicle-to-vehicle communication on the other hand, IoT prevents the accidents that have become so assumed about the natural course of getting on the road. Together, communicative systems like IoT cars offer more attuned awareness about speed, direction, dangers, and more.

In practice, this means connected cars have massively accelerated the safety ratings that modern drivers will accept. Through automated warnings and collision avoidance, IoT has transformed the meaning of the age-old “blind-spot,” making it a matter of machine monitoring, not natural risk.

Better Efficiency Ratings

IoT automotive advancements serve customers as well as manufacturers and servicers, providing a bump to customer satisfaction and loyalty. As consumers increasingly seek immediate gratification from digital experiences, IoT-connected cars attract through greater conveniences compared to traditional driving experiences.

The virtue of ease helps consumers choose between retailers for their next vehicle too. Satisfaction is hard-hit by elements of the typical buying-and-selling exchange. IoT adds the balm of big data to smooth out long-standing tensions blocking excellence in customer satisfaction.

While delivering savings and greater efficiency to automotive manufacturers, customers also enjoy peace of mind from enhanced safety. The resulting financial gain comes from automotive IoT force and flexibility for data collection, analysis, and deployment.

More Customer Loyalty

Today, customers remain more willing to engage business with a tech-centric approach; they see it leads to a better, more informed, and less frustrating experience. In this way, IoT supports all involved.

Since it’s more grounded in customer information‒the people and profiles that form the market‒companies who leverage IoT start to make more sense for the younger, more exacting consumer. Instead of challenging them with less convenience and lower safety ratings, automotive players can synergize buying, manufacturing, and marketing.

By more intentionally following the customer journey through IoT-collected information, customers are ultimately convinced to become repeat buyers. Perhaps this is why IoT connections mean a $310 boost in revenue and $180 in savings per vehicle.

The Challenges Connected Cars Face

To truly harness IoT in the automotive sector, decision-makers must mitigate the inherent risks of data management and ensure a socially responsible, security-oriented hand in outcomes. At its heart, the risk of embedded, communicating, and intelligent technology is safe and efficient implementation.

If its applications are mindful, the automotive industry as a whole shouldn’t face significant challenges in handing data, ensuring reliability, creating security, or protecting privacy. Nevertheless, everyone in the sector should know IoT’s potential to “cut both ways.”

Data Management

Simply put, it may challenge fledgling operations to handle the vast volumes of data produced by IoT-connected cars. The demand is simple but strong: automotive industries (especially start-up services) must know how to make swift work of a constantly renewed resource.

From data sourcing to transmission, processing, and analysis, all operations will want real computational power to maintain themselves against being force fed otherwise precious information. Without such support, IoT stands to overwhelm under-developed systems with data management pressures.

Connection Reliability

While the concept of IoT connections is straightforward, the complexity of its application in vehicles is not. Given the rapid development of IoT technology, a sustainable and secured connection becomes concerning for consumers as much as corporate interests.

Features like sensor tracking and car-to-car communication enhance experiences but also challenge the constrained network. If there are limitations on performance, then IoT applications‒no matter how advanced in theory‒won’t keep step with their promised benefits.

Software Integration

Initially, IoT vehicles hit the road without a hint of concern. This presents the real need for automotive industry players to institute IoT security. This presents a real need for automotive players to institute IoT security alongside simple connectivity. IoT can be attacked, especially when authentication and authorization protocols are weak.

The primary option for scaling an IoT solution securely is data encryption, device management, and security protocols like SSL certification. These protocols are familiar to the web, but IoT presents the challenge of hardware and software diversity‒meaning all IoT technologies must adapt to ever-emerging flaws and oversight.

Consumer Privacy

Some express concerns over the sheer intensity of data shared by IoT-connected cars. Consider that a connected car may produce many millions of discrete data points on a daily basis. Pair this with the idea of regulating and maintaining ethics within a vast sea of sensitive information (including user profiles, location, destination, acceleration, etc.).

For those prepared to weather its risks for the social good possible from the IoT space, those who manage, regulate, and authorize vehicle software should be prepared with their core criteria for cybersecurity standards.

Future of the Automotive Industry Using IoT

A nearly exponential influx of IoT vehicles and functionality is no surprise: it’s a precursor. Communicative IoT sports the previously unthinkable: stable solutions to traffic hazards, driver discomfort, and even mismanaged production .

Already, connected cars enmesh advanced technology with business benefits and the social good. They have already uplifted standards for safety, added more convenience, enhanced fleet maintenance, streamlined inventory management, and applied optimization to supply chains.

Car manufacturing will be forever changed through IoT with blasts of process renovation, data intelligence, and restored efficiency‒all on one side. On the other, the connected car presents a surer road to optimal conditions for everyone, including more safety, sustainability, and satisfaction.

The future of connected cars only begins with safety and security. It will build with customer comfort and confidence, coming full circle for a transformed society of more safety and stability. IoT is already global in its effects, concerning everyone in its beacon.

Drivers, dealers, and decision-makers in all corners of the auto industry will feel undeniable vibrations in pricing, processes, and application potential as AI, telematics, and electric autonomous vehicles develop. For the industry itself, expect advancements in applications of AI, the cloud computing effort, and real-time data optimizations.

Summing Up

All-round, automotive IoT and connected cars spread multi-directional support to manufacturers, through retailers, and servicers, toward customers.

Boosting performance and satisfaction while cutting expenses and inefficiency, there’s no alternative to IoT’s arc toward digital transformation. Evolved 5G connections and the transition to electric vehicles is fast approaching.

With Intellectsoft, you can accelerate these benefits. Get enterprise IoT development by dedicated software teams to empower your business, of any size. Demand a bespoke solution, designed to compete and please.

Learn more about IoT and our approach through our work with Jaguar Land Rover, Harley-Davidson and leading manufacturers.

The post IoT in the Automotive Industry: Benefits, Challenges and the Future of the Sector appeared first on Intellectsoft Blog.

The new reality calls for new approaches to appear. In the business world, brands try new communication styles and revise common business processes. Some of these changes have already shown their benefits. In traditional medicine, virtual health care demonstrates such results.

What is virtual health care?

Virtual health care means applying traditional medical practices remotely. The term gained its title as doctors consult their clients during virtual visits.

What is Telehealth?

Telehealth is a broader term. Here, the virtual visit involves technology. Its tools can be simple (a phone call) or sophisticated (collecting analytics and creating the infection images). When it comes to mobile technologies and apps, Telehealth turns into mHealth.

What’s the difference between Telehealth and telemedicine?

The contemporary Telehealth technology started as telemedicine, adopted in call centers. These days, Telehealth relies on various channels of distant communication: videos, e-mails, and even fax.

Besides, it evolved by including augmented reality and artificial intelligence. These days, Telehealth opportunities already include these and other options:

• Google AI Calculation — the tool for distant analyzing and curing diabetic retinopathy,
• Big Data — to prevent calamitous diseases by identifying early symptoms,
• Robots — to provide in-house help for older people.

How virtual health services and Telehealth services transform the contemporary health system

All the Telehealth technologies had appeared long before the international lockdown announcement. Nevertheless, the development of the industry is outstanding these days.

For several years, US Telehealth has been serving the needs of teleradiology, teledermatology, and telepathology. Back in 2014, the majority of healthcare organizations already provided their patients with three key opportunities of telemedicine:

• Store and forward — the electronic tool for storing clinical data and sending it forward for evaluation,
• Remote monitoring — self-monitoring the signs of clinical diseases (like asthma and cardiovascular problems),
• Real-time interaction — virtual care services to get immediate medical attention.

Source: Statista, Availability of selected telemedicine practices to U.S. patients as of 2014

With virtual health care through Telehealth solutions, doctors can make better diagnoses, take eldercare to a higher level, and provide stable patient monitoring. All these possibilities raised extra importance with the Coronavirus spread.

Specifically, Telehealth can address the problems with distant monitoring, the vulnerability of elderly people, and hard-to-track symptoms. Moreover, the national lockdown has fueled Telehealth adoption through the increasing number of mHealth apps.

What are examples of Telehealth and mHealth apps: Successful cases worth your attention

Here’s the list of successful Telehealth technology examples: 3 Telehealth solutions and 2 categories of mHealth apps. They both demonstrate great results and provide a meaningful service in the age of Coronavirus lockdown.

USC Telehealth

USC Telehealth is a Telehealth online clinic that provides medical interventions in the form of video conferences. Being an academic institution, USC Suzanne Dworak-Peck School of Social Work guarantees professional online counseling and psychotherapy services to its clients. The sessions last 50 minutes on a weekly basis for three months. The center is situated in Los Angeles, and its working languages are English and Spanish.

The evidence-based practice from the school includes:

• Motivational interviewing,
• Problem-solving therapy,
• Cognitive-behavioral therapy,
• Other forms of psychotherapy.

Contact: Call (866) 740-6502 or write here

Home Telehealth

Home Telehealth is a tool that helps patients manage their chronic diseases. Among various Telehealth solutions, it’s the best option because it combines the achievements of all three types of telemedicine. You can self-monitor your health state, send the data for evaluation, and contact your doctor for health coaching. For consultations, the system has audio and video conferencing options.

The tool has already proved its extreme effectiveness in Veteran Health Administration and treating chronic diseases. Moreover, Home Telehealth is the basic equipment you need during the lockdown for the regular doctor visit during self-isolation.

Salus Telehealth

Salus Telehealth is the telemedicine institution that makes a difference globally. It aims at popularizing Telehealth among patients, healthcare IT services, providers, and businesses. For patients, the company grants access to virtual treatment.

This list of treatments includes allergies, bronchitis, aches in ears and eyes, sore throat, flu, infections, and bug bites. For providers, the Salus network works as an online team that helps to expand reach.

The company developed the Salus app and several setup devices. This way, it connects patients with the best doctors remotely. The set of Telehealth solutions includes consulting patients, making diagnoses, and choosing the best treatment. In times like these, Salus Telehealth sees its mission in relieving the pressure from the national healthcare system and saving critical space in emergency rooms.

Fooducate and MySugr, top mHealth apps for diabetes

Many mHealth apps have already shown their effectiveness. Among many available options for managing diabetes remotely, Fooducate and MySugr are the best picks.

Fooducate is the eating couch that assists in normalizing nutrition. It has everything needed to track your health state: intake of calories, nutrients, macro elements, sleep quality, and daily activity. For diabetes control, it can calculate the amount of sugar in all the foods, both organic and processed.

MySugr is another option for nutrition management. It assists in tracking sugar in your blood. The app is synced with a glucose monitor. Also, it can send you notifications to follow-up with extra data to make the most of your app. Later, this information can be discussed with your doctor during a virtual visit.

Medici and PingMD: Some of the best mHealth apps for patients

Another category of great mHealth apps is patient-oriented services. Among various mobile solutions, we recommend paying attention to Medici and PingMD.

Medici is the platform for connecting with your hospital online through video chats and texting. With it, you can reach your personal doctor who has a Medici doctor app from his/her side. This feature allows your medical adviser to set the fees and working hours. If you invite all your doctors, you will establish the complete network for your remote consultations. This is the most convenient way to make your regular visits in the pandemic era.

PingMD doesn’t offer video chats but has another helpful feature. It’s the platform to discuss the most interesting information in healthcare, including verifying the news about Coronavirus. However, be careful with the software updates — check the compatibility of this app with your smartphone before filling your information in it.

Pros and cons of Telehealth

Among the most evident advantages Telehealth shows, there are

• broader access to the healthcare system — meaning treating more groups of patients and those living in backwoods,
• cost-effectiveness — minimizing traveling time and costs, and
• service improvements — including greater self-discipline of patients and better shipment quality.

But this success of Telehealth has its flip side. Here arise three types of issues:

• legal compilations,
• ethical and communication problems,
• technological difficulties.

Source: Deloitte Center for Health Solutions, 2016 Survey of US Health Care Consumers

Legal problems arise because Telehealth technology is still associated with old-fashioned telemedicine. These days, the same problem has another root: this complex platform needs management by governmental norms to work better. Before that happens, the issues with trust in doctor-patient relationships will inevitably appear.

The virtual connection also causes communication problems: a phone call challenges doctors with finding new approaches to evaluating the client’s health state. And even if the doctor manages this situation, the ethical problems with Telehealth remain sharp. They involve security concerns and confidentiality of virtual visits.

Finally, the poor Internet connection and novelty of technologies is also the problem for Telehealth expansion. People are still cautious of using smartphones and computers for treatments and consultations, which are used in traditional in-person contact.

Telehealth and other forms of virtual care: Is there a future for them?

The quarantine accelerated the pace of virtual care development, but what will happen when it ends? Many experts believe in this way of healthcare progress. According to Deloitte Insights, the future of virtual health care is more than promising: it will improve procedures, client service, and the overall quality of treatment.

Source: Deloitte Insights analysis

Even though Telehealth still experiences legal and ethical problems, the technology possesses many perspectives. The current lockdown showed its potential to become the real solution for maintaining the well-being of the nation. It can treat both diseases other than Coronavirus-related and mental health.

Moreover, the abilities of virtual health care include saving traveling costs and conducting more accurate patient monitoring. All these factors will fuel the development of this technology long after the Coronavirus lockdown ends. And if this pandemic really shapes new social norms and drives new social rules, humanity should get prepared for starting today.

We, at Intellectsoft, empower companies and their healthcare workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

The post The Future of Virtual Health: Telehealth, mHealth Apps, Virtual Care, and More to Come appeared first on Intellectsoft Blog.

Different devices and apps are great sources of data that can be properly evaluated and used to benefit companies and their customers in different industries. Insurance is not an exception, and thanks to telematics tools, the organizations can provide better services, offer individual underwriting, save costs for both insurers and the insured.

What Is Telematics Insurance?

So, what is “telematics insurance”? The notion is rather new, and only recently it came into practical application.

Telematics insurance means the usage of additional devices or applications to study behavioral statistics to predict loss. It can also be defined as UBI (Usage-Based Insurance).

Customers can get individual premium programs based on their actions.

How Telematics Helps Health Insurance Companies?

UBI (or telematics insurance) is usually used in car coverage, but it is expected that these programs will find their application in other types of coverage in the future. Telematics devices help underwriters price premiums for their customers, thus reducing the costs for the insured accurately.

In this way, the programs’ affordability is increased, and customers have more control over their premium programs. This helps insurance corporations to estimate accident damages more accurately and reduce fraud. The acquired info can also be used to create new UBI products that are refined and more individual.

Nowadays, at the time of the worldwide pandemic, organizations and their customer are looking for cheaper options. Telematics can help with this issue, so the underwriters can offer unique programs for auto insurance, homeowners, and life insurance.

1. Telematics Auto Insurance

Coverage programs based on the behavior input attained from the devices installed in the car. These devices can track the driver’s performance and calculate possible risks. They take into account every aspect, from speed to the length of the road trips.

2. Telematics for Homeowners Insurance

Telematics devices can be used to create refined programs for homeowners. Additional tracking devices and apps can be installed in the houses to increase the security level and provide better protection.

The organization can come up with individual coverage policies for its customers, thus making them more cost-effective.

3. Telematics Life Insurance

Life coverage programs can also be personalized with the help of wearables and IoT to get more suitable premium offers. Tracking tools can help collect behavior data and help the organization create personalized offers for its customers.

The issues that the companies might experience are connected with the implementation of the devices and data analyses. How can companies overcome these hurdles? Who is there to help them? There should one additional department or third-party involved in the process.

Telematics Insurance Industry: Who Can Help You to Create New Programs?

If an underwriter wants to create new programs for its customers based on telematics data, it should work with the insurance telematics development provider.

This niche is new, so the technologies and solutions will constantly change and develop. The organization should find a reliable partner for cooperation who has vast experience in the underwriting field and will help you build the best solutions.

Healthcare Telematics Challenges Faced by Insurance Companies

Although telematics programs have many advantages for underwriting organizations, there are still some challenges that need the right solutions. UBI programs use highly tentative info that raises privacy issues.

Another challenge concerns the cost spent on the devices that track user habits and resources that examine the statistics. UBI programs need technologies that gather and sensitize the data. As the area is rather new, it is not 100% clear on selecting and interpreting the input. The usage of new technologies means changing the existing programs and their price structure. The businesses should think of new ways to maintain the profit or refine the programs they offer.

Apart from this, it can be challenging to implement new coverage programs as they need to be allowed by the state. Their programs need to be approved by the authorities and suit the regulatory requirements.

What is Telematics Car Insurance?

The telematics in car coverage means using additional devices and tools that can track the driver’s performance on the road.

These devices are also known as “black box”. Underwriting organizations use UBI tools to see how risky the driver is and create individual insurance quotes based on the driving style.

Young and inexperienced drivers can benefit a lot from this type of protection.

Pros and Cons of Telematics Insurance for the Customers

Telematics is gaining popularity among the customers of underwriting corporations. Thanks to the latest technologies, the prices for the underwriting premium programs can be reduced. The customers will get personalized offers from insurance businesses and have more control over the programs.

One of the major drawbacks of telematics programs is the cost. Implementation and maintenance require additional resources. Thus the customers might pay more for the program, but it is a worthy investment in the future.

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What is Wearable Health Technology?

Any portable devices such as smartwatches, body patches, ear wearables, headbands, smart clothes, or smart glasses — are wearable devices.

These devices are devised to track, gather, and monitor users’ health data from step counts and calories burned to heart rate, glucose level, stress, sweat levels, and even oxygen saturation level, aiming to provide continuous and accurate health results to boost patients treatment.

What Was The First Wearable Technology in Healthcare?

The first device being implanted and worn by patients was a pacemaker for people struggling with arrhythmia in 1958. Since then, technological advances lead to the development of smart devices operating as “minicomputers” and enabling long-term and remote monitoring of patients in any place and any time.

Wearable Fitness Trackers

The first mass portable device conquering the market of sport-oriented and health conscious audiences. Fitness trackers were formerly designed to help monitor step counts, calories burned, and heart rate, followed by fitness recommendations.

Smart Health Watches

This device took wristbands that could only count steps to a new level. Today, smartphones are considered a practical medical tool, offering a varied number of functions, including heart rhythms measurements.

Wearable ECG Monitors

Specifically designed healthcare IT solutions for users with heart conditions, these devices can measure electrocardiograms and instantly send the accurate results to the user’s doctor.

Wearable Blood Pressure Monitors

An oscillometric BP smart monitor that can examine blood pressure as well as everyday body activity. This enables the devices to track and examine the correlation between daily activity and blood pressure measurements.

Biosensors

An amazing device improving preventive health care, as a self-adhesive patch, can track and store data continuously and alert about the possible cardiac or respiratory arrests.

Wearable Sweat-Sensors

By examining sweat levels, such devices can alert about possible seizures and send notifications to a person’s device as well as their doctor.

Why Wearable Technology in Healthcare is Important?

Facing the consequences of the 2020 pandemic of COVID-19, medical researchers are working towards boosting remote patient care as never before.

Portable technology enables practitioners to receive relevant and accurate data instantly and take action quicker. The smart devices help with early detection of health problems that, in turn, results in better patient treatment.

Significant Impact of Wearable Technology in Healthcare

The population is aging. This is our reality. Wearables are better at predicting death risks when dealing with older adults — and this is our hope. One of the most common issues older adults have to face regularly is health problems due to falling.

Luckily, portable devices can help examine body activity and offer effective fall prevention suggestions. Detection of heat strokes, mental status monitoring, prevention of sudden arrhythmic death with wearable cardioverter defibrillator — it’s already happening.

All the innovative portable devices provide easier monitoring of risks that can possibly threaten the lives of patients, as with the help of the technology, various parameters can be quickly and flawlessly examined (heart rate, oxygen saturation, body temperature, blood pressure, etc.)

Examples of Healthcare Interoperability Challenges That Can Be Solved with the Wearable Technology

One of the key benefits of portable devices is to ensure continuous patient care instead of an episodic one.

All the data that can be stored and examined via wristbands, headbands, patches, and other smart wear can help overcome many virtual and physical challenges medical care faces daily.

Here are just a few examples of how innovative tech solutions can deal with the most common obstacles. One of the challenges includes patient identification that is undoubtedly crucial when it comes to treatment. In the USA alone, 10 out of 17 medical error deaths occur due to the patient’s inability to identify correctly. However, as suggested by Heartlands Hospital in the UK, this issue can be easily solved if all the patients had Radio Frequency Identification wristbands.

Another vital challenge novice doctors have always faced is the lack of practical knowledge instead of theoretical. Though, with the help of Google Augmented Reality Glass, a student from any part of the world can be present at real operations streamed online and learn from the best doctors.

Finally, portable devices like smart glasses, wristbands, and other tiny devices connected to a huge database will enable effective collaboration between medical institutions. This, in turn, will significantly boost patient care, as doctors will have access to patient’s records at any place and at any time.

Benefits of Wearable Technology in Healthcare

• Significant cost reduction per patient

With the latest technology, patients won’t have to visit doctors as much as before, as lots of diagnoses can be made online, and the data from wearables will be enough.

• Alleviating staff workload

Instant access to patient’s data, the ability to collaborate with patient’s doctors from various institutions, and no need to insert data manually can be possible, all thanks to portable technology.

• Improved diagnosis

A tiny device attached to a person tracking, collecting, and monitoring the results continuously, can provide doctors with more accurate info rather than patients’ guesswork. In turn, this will help to make a better diagnosis.

• Prevention of diseases

Imagine a flu season when tons of citizens are rushing to hospitals, suspecting they have the flu. A portable device connected to a personal device can alert an individual about unwanted body activity and prevent epidemics by sending data to a united city/country database.

• Faster clinical decision making

With smart sensors, any emergency can be detected as soon as it occurred, saving time to save a life.

• Overall boost of patient care

The benefits of portable devices are all aimed at improving patient care. With the abundance of functions emerging daily, the opportunities are endless.

• Keeping patients engaged

Patients can be continuously informed and alerted about their health conditions. This, in turn, will help individuals to monitor their health regularly and motivate them to take action.

The Future of Wearable Technology in Healthcare

A recent study predicted that portable technology global sales would reach approximately $62,82 billion by 2050.

Consumers are believed to be more and more comfortable with wearing devices to track their body activities.

The quickest regions to adapt to changes and employ portable devices’ tech solutions will include North America, Europe, and Asia Pacific region.

Wearable Health Tracking Technology Issues Still to Overcome

Undoubtedly, the major tech companies’ two main issues are data protection and measurement accuracy. Patients are concerned about their personal data being securely collected and stored.

Plus, despite the accuracy of most devices being 80% and higher, it’s still not enough to convince all the people to rely on technology completely.

What Are the Key Wearable Technology Trends in Healthcare?

Needless to say that the aging population is one of the crucial factors influencing the latest tech solutions and software development in medical field. While smartwatches were first designed as a fun and futuristic devices, the tech moguls are thinking about entering the health space by offering disease-specific features to detect a problem with the utmost accuracy. For instance, a smartwatch designed by Empatica, Embrace 2, can detect an epileptic seizure by examining the sweat level.

What is more, while fitness trackers were on fleek for quite a long period, their popularity is declining, as smartwatches are booming thanks to making common features like step counts and calories burn more accurate and offer innovative functions like non-invasive glucose monitoring and fall detection.

Eyewear technology continues to pave its way into the latest trends by broadening medical training and assistance horizons, all thanks to virtual reality (VR) and augmented reality (AR). Surprisingly, the competition is getting pretty rough with newcomers entering the field, such as Epson, Magical Leap, and Medical Realities.

A dark horse of wearable health technology is hearables. Formerly designed to enhance hearing, now the ear-worn devices offer a considerably huge number of functions: heart rate monitoring, sleep examination, steps count, calories burn count, and even brain wave analysis – this is all just a tip of the iceberg.

Finally, smart clothing and skin patches are starting to prosper in the field of healthcare. It’s not surprising, as 10% of people will already be wearing smart garments by 2025. It’s the new fashion and the revolutionizing way to boost patient care when constant monitoring is required.

Wearable Technology Health and Fitness: Apps and Devices That Are Already Booming

The portable technology has already weaved itself into people’s lives, changing the way we see health care and keeping fit regularly. Below you’ll find just a few technologies that are currently booming, and their number will only be rising.

1. AVA

Uncannily accurate portable helping to track women’s health, including fertility, pregnancy, weight and sleep monitoring, as well as stress examination. The recent studies confirmed its accuracy of fertility prediction to be 89%.

2. KardioMobile

An electrocardiogram (ECG) designed by AliveCor to track and diagnose heart issues. It can be attached to the back of the iPhone and Android mobile devices to monitor heart activity through chest and finger sensors to the mobile itself. Keeping an eye on heart conditions has become a manageable daily routine.

3. PIP

A lifesaver for the population being under stress all the time. A teeny device is designed to monitor your level of stress and help you calm down when needed. The device is doing so by examining the changes in your electrodermal activity and then sends the signals to your mobile app.

4. Withings Blood Pressure

Checking your heart and examining your blood pressure as accurately as your doctor will do. The secret is that the blood pressure monitor performs three measurements to provide the average and the most accurate results. Plus, the monitor sends the info via Bluetooth to the app on your phone.

5. TempTraq

A revolutionizing digital thermometer. It has a form of a soft and comfortable patch that can be adjusted to the body up to 48 hours to continuously monitor the temperature. What is more, it’s connected to your mobile device to send alerts and notifications. It’s gaining its massive popularity among parents, as it’s easy to measure a child’s temperature without disrupting a kid while manually and stressfully taking it several times.

6. BioScarf

As relevant as never before – the first scarf to protect from pollution, allergy, cold, and flu. This Bioscarf has an air filter incorporated in it. The filter will protect the wearer from the majority of airborne contaminants having a bad effect on their health.

7. Philips SmartSleep

Philips has designed a Headband to boost the quality of deep sleep. It was developed by doctors and researchers to help people struggling with sleep problems. Thanks to the sensors, the headband monitors the body activity during different sleep stages and then sends this info to a mobile app. The app will then show you the metrics and provide suggestions to make your sleep better.

The future is truly exciting — wearable technology in healthcare is just another evidence that IT solutions are shaping our world already to make it a better place to live.

We empower companies and their workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

The post Wearable Technology in Healthcare: The Holy Grail of Longevity? appeared first on Intellectsoft Blog.

The perks of applying for all the technological advances in one’s industry are endless. The particular benefit is technology having a direct impact on human health and longevity. Healthcare is at the edge of a technological revolution that will bring unexpected opportunities.

In this article, we will cover the top 15 types of healthcare software popular among private and public sectors. We will dwell upon the peculiarities of each program and define its possible benefits in the industry. We will discover how various native and external apps can solve tons of problems. Not only can appropriate software reduce health costs, but it can also provide personalized insights for every patient.

The Top 15 Types of Healthcare Software on Point in 2020

Healthcare Management Software

Management programs aim at optimizing the working process and improving the overall quality of service. Whether it’s an app designed to manage medical equipment or an administrative-like application to assist with financial and organization functions, its goal is to eliminate as many human errors as possible and enhance patient care.

With well-designed software applications and solutions for the healthcare industry, most of the manual processes can be automated, making administrative and management procedures faster and more efficient.

Unfortunately, there is still software that covers a broad spectrum of features, as mostly you’ll come across programs specifically designed to deal with a particular factor like scheduling, billing, analytics, electronic medical records (EMR), etc.

Online communication between patients and doctors is also possible with well-crafted and well-protected applications, securing a safe place for discussing personal details without the risk of these details being exposed.

Healthcare Scheduling Software

There are two distinct types of programs — one dealing with patient schedules, and the other with staff schedules. While the former simplifies the process of getting an appointment with a doctor, the latter maintains health care employee schedules.

Both types of applications are aimed at reducing scheduling friction, detecting any irregularities, and as a result of improving patient care. It exists as a standalone app, as well as it can be added as a feature to a broad-spectrum management app developed for a hospital.

Appointment scheduling minimizes the waiting time of patients, and with a well-designed interface makes this process fast and “painless.” Usually, a patient should register to use the app, and afterward can book an appointment to a particular doctor at a specific date and time. It’s way more convenient than the old lining up and crowding the hall of a hospital.

Healthcare CRM Software

A thoroughly designed CRM focuses on establishing strong relationships between a patient and their practitioners/or a hospital. These interactions are personalized to provide clients with the utmost caring services. What is more, it enables monitoring and assessing the efficiency of professional staff working at the hospital. As more actions are automated with CRM, it improves customer satisfaction significantly.

In addition to this, such software is optimized by marketing and sales specialists, as the key role of individuals using the app is customers. Automated notifications, email marketing, personalization of content, all-round profiles of patients, automated analytics, monitoring various clients’ satisfaction factors – all this is aimed at making patients’ experience as customers better. And that what makes CRM different from electronic health records (EHR) that is primarily concerned with patient treatment and is designed for qualified clinicians only.

Healthcare Billing Software

The best solution to automate manual billing processes and monitor payments from any device within several clicks. Secure payments that improve clients’ satisfaction and centralized medical billing enable access to a single database for various providers in various locations.

Such software usually offers a broad spectrum of analytical data that helps monitor financial health and provides excellent insights into possible revenue opportunities. What is more, with such a single-base program, less manual mistakes will take place that often occurs by copying-and-pasting data between systems.

When several practices are growing to become large organizations, such software is the number one priority for a business to keep profitable and successful. All in this type of program helps to make transactions more transparent and prevent any frauds.

Healthcare Claims Processing Software

Managing healthcare and insurance claims is more efficient with a well-executed program. As many manual processes are automated, the overall analysis and evaluation of applications are faster and more quality. It’s easier to detect fraudulent claims, keep all the data organized in one centralized system.

Healthcare Management Software

Consequently, while the whole procedure is optimized, customers’ satisfaction is boosted as well. The program enables a practice to assess the complexity of a particular claim and the risks and likelihood of litigation. At the time, users enjoy the simplicity and convenience to leave a request with such a program.

All the data is integrated successfully no matter the formatting (whether it’s PDF, images, flat files, etc.) Finally, robust software enables users to proceed with claims via any desirable channel, including email, contact center, website, or even phone applications. A practice may acquire such a program as an independent tool or a wide spectrum software feature.

Healthcare Analytics Software

“Data is the new oil.” The quotation has become so common that no one is no longer surprised by hearing that. Any field can genuinely benefit from acquiring tons of data and analyzing it significantly to improve service quality and future revenues.

In brief, such software will collect all the data a healthcare organization deals with every day and will provide significant insights regarding patient care, management, billing procedures, scheduling, etc.

Suppose such a program is integrated with EHRs. In that case, it opens a unique opportunity of quality predictive and prescriptive analytics for every patient individually and the whole database of patients.

On a global scale, such software can help predict epidemics and pandemics’ outbreaks thanks to the data collected. That is to say, and practice can benefit from employing the following tool.

Healthcare Accounting Software

Another useful tool to optimize the working process is by eliminating the number of manual errors and monitoring accounting operations more efficiently.

Moreover, a single program can significantly reduce staffing costs and follow all the processes more accurately. Big organizations will enjoy a shared chart of accounts and real-time access to any metrics. This saves time, keeping the expenses, and monitoring the revenues. Such software makes it easier to see the bigger picture of a financial situation any time you need it.

Most importantly, with a tool like this, you can examine the current state of affairs at your practice or health organization on the go, whenever and wherever you need. Managing accounts doesn’t cause headaches all the time, and when it does, it’s probably because a practice has no software required.

Electronic Health Record (EHR) Software

Keeping patients’ records can be optimized with such a tool. It’s no longer about the medical record, just going digital and being stored online. The latest programs enable a more meaningful and efficient connection between a patient and a practitioner.

There is a number of features: starting with patient cards organized chronologically to customizable templates specifically designed for the needs of practitioners. All the needed patients’ info, medical charts, and procedures details are all stored in digital format and can be easily accessed by practitioners of a healthcare organization.

The fundamental goal of such a tool is to secure the safe storage of patients’ medical data from various departments within one protected system. So, it speeds up the workflow of EHR and empowers the practice to offer better medical services to its patients.

Medical Diagnosis Software

This particular type probably holds the most potential to offer healthcare. AI technology is developing truly fast and has already started to revolutionize the field of medical care. From a helping feature to accelerate the process of diagnosis to an independent tool to detect a health risk earlier than the practitioners themselves – that’s the future AI holds.

In times of COVID-19, there’s already an AI tool specifically designed to help doctors to detect the suspicious symptoms and come up with the correct diagnosis. With such a program, the exchange of info among various departments is faster, and more quality.

As practitioners from different fields add data to a patient’s card in real-time, it’s easier to see the bigger picture. That adds AI to such a tool, and it will examine and offer a possible diagnosis straightaway.

Imaging and Visualization

‘Artificial intelligence will not replace radiologists … but radiologists who use AI will replace radiologists who don’t.’ The same thing can be said about the practices employing and not employing the opportunities for imaging and visualization tools. CT scanning and MRI took health treatment to a new level, and so medical imaging will.

Such programs will empower practitioners to monitor various body systems in a real-time visual representation. Surgery is the first field to benefit from such a tool, as it helps doctors to conduct safer and more accurate procedures.

Now, add machine learning, deep learning, and/or AI so that such software will significantly enhance doctors’ expertise. No matter how hard a human may try, a machine can examine more info faster, and with a broader number of outlooks.

Medical Database Software

This tool is quite similar to EHR, as it also collects and stores patients’ data like medical records, procedures, medications etc. However, this software classifies cases in accordance with disease diagnosis.

While the EHR is more focused on each patient individually, a database will provide a bigger outlook, as its main concern is overall stored information. The medical data is usually managed via Cloud storage so that it’s easy to access it anytime and any place. With a carefully stored info about previous cases, practitioners are empowered with unique opportunities to make more accurate and faster clinical decisions (that is vital in terms of healthcare).

Generally, such a tool is easy to navigate and customized according to the specific needs of a practice. Customized templates and features improve the quality of service and as a result patients’ care.

E-prescribing Software

Yet another tool to significantly lower the risks of manual errors and misunderstandings. With such a program, a practitioner can directly connect with pharmacies for prescriptions.

In other words, no need to decipher the handwriting of your doctor, as the pharmacy will already get all the needed info about the treatment you need and medications required. That is to say, it speeds up the process of receiving the medication, as well as improves the safety of a patient by eliminating medication errors.

What is more, with such a tool, all the prescribed medicine is instantly recorded in electronic patients’ cards. That is why in case a new doctor will take charge, they will have the info about the whole treatment process of a patient.

Medical Research Software

Such programs work both ways. On the one hand, digital platforms offer accurate and important research literature reviews for practitioners to examine and apply in treating a patient.

On the other hand, when treating a patient, a doctor may reference patient files that, in turn, will help with medical research. As a huge healthcare organization, one can benefit from having a large portal where all the results are stored and can be accessed by different researchers from different fields.

Such healthcare software development helps to increase the speed of new discoveries and outbreaks in the field of medicine. With the opportunities to use the latest tools and provide an in-depth analysis of the findings with the help of machine learning or AI, it’s much easier to reach the edge of a new breakthrough.

Telemedicine Software

Needless to say that telemedicine has never been reaching its potential as much as it’s in 2020 due to COVID-19 outbreak, and everything is going online. More and more patients are eager to receive consultations without going to the doctor’s office.

This tool is what makes medical treatment online possible, accessible, and effective. It won’t enable a practitioner to carry out surgery online, but updating medication prescriptions, and monitoring patients with existing conditions is not only possible, but it’s also easy and convenient.

To bring the best out of it, this tool is often used to feature a wider spectrum of software, including EHR, electronic medication prescription and billing (so that payments are also carried online with no sweat). However, it can be designed as a standalone program as well to meet the specific needs of a practice.

Personal Health Record Software

This particular tool will store all the medical records of family members. Patients enjoy having all the health issues being organized in one easy-to-use interface. It can just serve as an optimization tool that provides access to the needed data on any device so that patients can easily monitor this info.

Combining some analytical features and notifications can inform a patient’s practitioner about their health situation or notify a patient about the upcoming regular procedures. In other words, with all the personal records stored, such a tool can serve as a wellness program that helps patients keep track of their health problems and lead a more sound lifestyle. Personalized wellness strategies, keeping all the documents in one place, and notifying practitioners about unexpected emergencies – it’s all possible with such a tool.

We, at Intellectsoft, empower companies and their workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

The post The Emerging Types of Healthcare Software: Why So Many? appeared first on Intellectsoft Blog.

You will learn:

• Where do beacons come from
• What is beacon technology
• How does it work
• The many types of beacons
• How they benefit companies across industries
• Pros and cons of the devices
• How technology would evolve

Let’s start!

What is Beacon Technology?

Beacon devices are at the heart of beacon technology.

Most beacons are small computers, roughly the size of a standard Wi-Fi router.

Part of indoor and outdoor positioning systems and Internet of Things (IoT) networks, beacons use proximity technology to detect human presence nearby and trigger preset actions to deliver informational, contextual, and personalized experiences.

Where Did Beacon Technology Begin?

The concept of beacons is as old as, for example, hand watches. Like lighthouses guide ships and show where the land is, beacon devices provide information and navigation to smartphone users. Beacon technology offers a new context for an old concept.

As we know it now, the beacon technology was introduced by Apple alongside a dedicated communication standard.

Called iBeacon, it was soon followed by Google’s Eddystone. The location beacon, which is rough twice the size of Apple’s Wi-Fi router Airport was a typical beacon device in the first years since 2013. 

In a short time, beacon technology spawned many startups and new beacon types. Unlike other new technologies like Augmented and Virtual Reality, beacons were straightforwardly effective and had a low price tag. On top of that, they provided new, exciting ways to engage customers in a non-intrusive way. As a result, many established retail companies quickly adopted beacons and started reaping their benefits.

How Do Beacons Work?

When a user walks past an area where a positioning system or IoT network with beacons is set up, the nearest beacon sends a code with a message to their mobile device. Then, the message pops up as a notification on a user’s mobile device with a third-party or branded mobile app.

You need 3 things to make a beacon-based system work:

• At least one more beacon device
• Mobile app
• User’s permission

Beacon technology offerings usually consist of a software development kit (SDK), back end management tools, and beacon devices. So, you will need software engineers to set up your positioning system, more so if beacons are part of a vast IoT network that includes other devices.

To enable beacon support, a smartphone must have an iOS 7 or higher or Android 4 or higher. Apple’s beacon standard is called iBeacon, while Google’s — Eddystone.

As for the user permission, your users make the final decision on whether they will receive beacon-based notifications and use your positioning system. Beacon technology works only with a smartphone and mobile app, so users can simply opt for turning off Bluetooth. There are also people who use their smartphones without keeping Bluetooth on all the time.

To overcome this obstacle, you can ask your users to turn on Bluetooth for the full customer experience, or even excite your users by notifying them about the beacon-based positioning system, presenting it as an innovative solution, and explaining what benefits it holds for them.

As a result, beacon technology appears as less intrusive than the similar RFID (radio-frequency identification) and other engagement tools, enabling a user experience where a user has a choice to opt out.

BLE as Bluetooth Beacon Technology

Beacon technology relies on Bluetooth Low Energy (BLE) to send out messages at regular intervals. BLE is a power-efficient Bluetooth technology developed for the Internet of Things applications and devices like beacons. With BLE, a beacon needs only one coin cell battery every three years, and the technology is 60 to 80 percent cheaper than the classic Bluetooth.

Types of Beacons

There is a wide array of beacons available for positioning systems of any type and scale. They differ in size, battery life, use cases, and level of resistance to exogenous factors. Here are the common types of beacons:

• Standard beacon (devices the size of a Wi-Fi router or smaller) for proximity solutions and indoor tracking.
• Portable/small beacon (the size of a credit card or big sticker) for asset tracking and proximity solutions.
• USB beacon (small, portable, quick to deploy) — beacons the size of a flash drive for asset tracking and proximity solutions.
• Video beacon — devices plugged into the back of a screen to deliver contextual visual information (for example, a user approaches a display in a food joint and shows personalized offers based on usage of the beacon-enabling app) as well as for digital signage.
• AI beacon. A machine learning-driven device that can detect different movements and gestures.
• Sticker beacon — the smallest of beacons, used for asset tracking.
• Parent beacon (the size of big Wi-Fi routers) is used to track other beacons, gather data and store it in the cloud, and more.
• Dedicated beacon — devices resistant to exogenous factors (dust, water, shattering, antistatic and UV) for indoor tracking and proximity solutions in harsh environments.

Most of the aforementioned beacon types emerged in the years since the inception of beacon technology to accommodate the business needs of different companies, so new ones may come into being in the future, giving companies new options to engage customers.

What Are Beacons Used For?

Beacon technology can improve the user experience both at the front and back end of almost any company, helping to streamline operations and gather data, drive sales, and deliver unique user experiences. Still, the retail and marketing industries benefit from beacons the most, as they are almost tailor-made for the two.

Front & Back End of Business

At the front end, for example, at a retail store, you can pair beacons with a custom app to notify shoppers about limited in-store offers, deliver personalized promotions, and provide navigation at vast retail locations.

At the back end, beacons are as effective. You can set up a beacon-based indoor positioning system at a warehouse to simplify and speed up the navigation in its bigger areas for new employees and representatives of third parties. Paired with an enterprise software development solution, beacons also allow for indoor personnel tracking to improve on-premises security as well as asset tracking.

For instance, an employee of a large enterprise needs a new laptop. The system administrator chooses one from the list of available laptops as a sticker beacon on it shows its location.

Beacons Elevate Marketing

Today, companies and their marketing teams mostly rely on emerging technologies to cater to and engage customers. Small and hidden beacons have a smaller appeal, but they can have a big impact.

In a standout example, RedBull used beacon stickers to monitor the movements of audience members at a music event. First, the devices collected different types of data. Then, scientists used it to create algorithms and deep neural networks to understand the movements and energy levels of audience members.

The results were visualized on the walls of a separate room at the venue. RedBull then went further, allowing the audience to take their individual information home as a souvenir, embroidered on a scarf. This is also an example of how beacon technology can be used successfully without a mobile app.

Source: RedBull

Other Uses in Marketing:

• A new avenue for driving sales. You can pair beacons with mobile to deliver highly personalized location-based ads.
• One more way to collect data. Beacons can gather customer data that will help you create better, more personalized experiences, as well as gain additional insights into customers’ behavior.
• New meaningful experiences for customers. Like RedBull’s beacon stickers, some types of beacons give a lot of room to experiment and develop creative solutions that your customers will remember for a long time.

Other industries that can leverage beacon technology:

• Hospitality (navigation, gamification, smart hotel rooms)
• Sports (navigation on big arenas, proximity marketing)
• Logistics & warehousing (asset tracking, security)
• Smart home development (beacons can provide navigations to guests at vast properties; security)
• Construction (geofencing perimeters for projects in the middle of nowhere)
• Events (gamification, navigation, schedule notifications)

Video beacons are the go-to example when it comes to showcasing the high value of beacon technology. For example, you can use video beacons to deliver contextual information and provide navigation at a hotel or resort. Such experiences are fresh, save time, and imbue the customer journey with small but memorable moments.

Beacon Technology: Pros and Cons 

Beacon technology has a wide array of solid business benefits and only a few disadvantages.

Pros:

• Low cost. Standard models are small and made of low-cost materials like plastic, making beacons more cost-effective than other state-of-the-art technologies.
• Easy to adopt. Most beacon devices are quick to deploy. Some, like USB beacons, are as easy to install as a computer mouse. Deploying beacons at scale is also easy with parent beacons.
• Tailored-made customer experiences. Beacon technology allows companies send personalized notifications and ads.
• Reliability and scalability. Beacons are dependable devices: unlike GPS, they use Bluetooth, so thick walls or underground areas will not block their signals. More so, some beacon suppliers offer beacons that are reinforced against exogenous factors.
• Vast outreach. All modern smartphones support beacon technology (your users need iOS 7 or Android 4 or higher installed on their devices), so you can reach out to virtually anyone, anywhere.
• Easy implementation. The majority of beacon technology offerings come with a software development kit (SDK) and back end management tools, making it easy to integrate a beacon solution with existing applications.

Cons:

• Users may opt-out. Most beacon-based solutions require user consent. Today, the flow of content from all sides seems endless, and even if you use only a few apps daily, you still get a lot of notifications. In the face of content overload, some users can simply turn off Bluetooth on their smartphones, preferring to miss out on your beacon-based experience, even if it is exciting and non-intrusive.
• A mobile app is a must. In most cases, beacons work only when paired with a mobile app. There are workarounds like third-party applications, but if you want to deliver a smooth experience your customers will definitely enjoy, you will at least need to add a feature to your application.
• Creating a beacon solution is not ubiquitously easy. The use cases of beacon technology are straightforward in the retail and marketing industries. Beacons can also be used effectively by hotels and companies that develop smart room solutions. In other cases, you should get creative or hire a software engineer with expertise in beacon-based or geofencing solutions, and this will take time, more so if your company is a medium-sized business or enterprise that needs a highly scalable solution.

Conclusion: The Future of Beacons

According to Global Market Insights, the beacon technology market is projected to surpass $25 billion in 2025.

In 2018, Google also started sending free beacons to small businesses in the U.S. to make their locations more visible to customers that are nearby. Meanwhile, new types of beacons continue to emerge (like AI beacon, introduced by Estimote in October 2019). Plus, when the amount of content and visual information seems endless, beacons’ promise of the spot-on non-intrusive mode of engagement may make all the difference to consumers.

Taking all this into account, it is safe to assume that more and more business locations will have beacons installed in them in the coming years. Although long-term projections might not reflect reality in the end, there are no visible hurdles on the way of large-scale beacon technology adoption. After all, beacons demand little to invest, are easy to set up and manage regardless of business scale, and bring clear, straightforward benefits to business across industries. Why not leverage them?

We, at Intellectsoft, empower companies and their workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

The post What Are Beacons and How Beacons Technology Works appeared first on Intellectsoft Blog.

With such a prognosis, the technology is predicted to step far ahead than anyone can possibly imagine. But with the rise in popularity of IoT devices, there will be a rise in IoT app development as well as security challenges and issues.

Source: Statista

In October 2016, a hacker found a vulnerability in a specific model of security cameras. Nearly 300,000 Internet of Things (IoT) video recorders started to attack multiple social network websites and brought down Twitter and other high-profile platforms for almost two hours. This attack is just an example of what can happen to IoT devices with poor security.

In October 2016, a hacker found a vulnerability in a specific model of security cameras. Nearly 300,000 Internet of Things (IoT) video recorders started to attack multiple social network websites and brought down Twitter and other high-profile platforms, for almost two hours.

This attack is just an example of what can happen to IoT devices with poor security.

It is not only video cameras, but anything with an internet connection, from a refrigerator, smart locks, thermostats, lightbulbs, vehicles, and even smart toys.

Using them always poses IoT security challenges and risks to overcome.

IoT Security Challenges

Now, it is not only us with our computers, but there are also “things” that interact with the Internet without our intervention. These “things” are continually communicating with the Internet, a fridge sending an update of the food inside or our vehicle transmitting messages to the mechanic to inform its oil levels.

IoT is wonderful in many ways. But unfortunately, technology has not matured yet, and it is not entirely safe. The entire IoT environment, from manufacturers to users, still have many security challenges of IoT to overcome, such as:

• Manufacturing standards
• Update management
• Physical hardening
• Users knowledge and awareness

Top IoT Security Risks

Returning to what happened in 2016, the lack of compliance on the part of IoT manufacturers led to weak and unprotected passwords in some IoT video cameras, which, in turn, led to one of the most damaging botnet attacks, the Mirai malware. There are many IoT security threats, but we will be highlighting the most important.

The following security issues with IoT can be classified as a cause or effect.

1) Lack of Compliance on the Part of IoT Manufacturers

New IoT devices come out almost daily, all with undiscovered vulnerabilities.

The primary source of most IoT security issues is that manufacturers do not spend enough time and resources on security.

For example, most fitness trackers with Bluetooth remain visible after the first pairing, a smart refrigerator can expose Gmail login credentials, and a smart fingerprint padlock can be accessed with a Bluetooth key that has the same MAC address as the padlock device.

This is precisely one of the biggest security issues with IoT. While there is a lack of universal IoT security standards, manufacturers will continue creating devices with poor security. Manufacturers that started to add Internet connection to their devices do not always have the “security” concept as the crucial element in their product design process.

The following are some security risks in IoT devices from manufacturers:

1. Weak, guessable, or hard-coded passwords
2. Hardware issues
3. Lack of a secure update mechanism
4. Old and unpatched embedded operating systems and software
5. Insecure data transfer and storage

A smart thermostat

2) Lack of User Knowledge & Awareness

Over the years, Internet users have learned how to avoid spam or phishing emails, perform virus scans on their PCs, and secure their WiFi networks with strong passwords.

But IoT is a new technology, and people still do not know much about it. While most of the risks of IoT security issues are still on the manufacturing side, users and business processes can create bigger threats. One of the biggest IoT security risks and challenges is the user’s ignorance and lack of awareness of the IoT functionality. As a result, everybody is put at risk.

Tricking a human is, most of the time, the easiest way to gain access to a network. A type of IoT security risk that is often overlooked is social engineering attacks. Instead of targeting devices, a hacker targets a human, using the IoT.

Social engineering was used in the 2010 Stuxnet attack against a nuclear facility in Iran. The attack was directed to industrial programmable logic controllers (PLCs), which also fall into an IoT device category. The attack corrupted 1,000 centrifuges and made the plant explode. It is believed that the internal network was isolated from the public network to avoid attacks, but all it took was a worker to plug a USB flash drive into one of the internal computers.

3) IoT Security Problems in Device Update Management

Another source of IoT security risks is insecure software or firmware. Although a manufacturer can sell a device with the latest software update, it is almost inevitable that new vulnerabilities will come out.

Updates are critical for maintaining security on IoT devices. They should be updated right after new vulnerabilities are discovered. Still, as compared with smartphones or computers that get automatic updates, some IoT devices continue being used without the necessary updates.

Another risk is that during an update, a device will send its backup out to the cloud and will suffer a short downtime. If the connection is unencrypted and the update files are unprotected, a hacker could steal sensitive information.

4) Lack of Physical Hardening

The lack of physical hardening can also cause IoT security issues. Although some IoT devices should be able to operate autonomously without any intervention from a user, they need to be physically secured from outer threats. Sometimes, these devices can be located in remote locations for long stretches of time, and they could be physically tampered with, for example, using a USB flash drive with Malware.

Ensuring the physical security of an IoT device begins with the manufacturer. But building secure sensors and transmitters in the already low-cost devices is a challenging task for manufacturers nonetheless.

Users are also responsible for keeping IoT devices physically secured. A smart motion sensor or a video camera that sits outside a house could be tampered with if not adequately protected.

5) Botnet Attacks

A single IoT device infected with malware does not pose any real threat; it is a collection of them that can bring down anything. To perform a botnet attack, a hacker creates an army of bots by infecting them with malware and directs them to send thousands of requests per second to bring down the target.

Much of the uproar about IoT security began after the Mirai bot attack in 2016. Multiple DDoS (Distributed Denial of Service) attacks using hundreds of thousands of IP cameras, NAS, and home routers were infected and directed to bring down the DNS that provided services to platforms like GitHub, Twitter, Reddit, Netflix, and Airbnb.

The problem is that IoT devices are highly vulnerable to Malware attacks. They do not have the regular software security updates that a computer has. So they are quickly turned into infected zombies and used as weapons to send incredibly vast amounts of traffic.

What is more, a botnet can pose a security threat for electrical grids, manufacturing plants, transportation systems, and water treatment facilities, which can threaten big groups of people. For example, a hacker could trigger a cooling and heating system at the same time, creating spikes on the power grid; in case of a big-scale attack, hackers can create a nation-wide power outage.

6) Industrial Espionage & Eavesdropping

If hackers take over surveillance at a location by infecting IoT devices, spying might not be the only option. They can also perform such attacks to demand ransom money.

Thus, invading privacy is another prominent IoT security issue. Spying and intruding through IoT devices is a real problem, as a lot of different sensitive data may be compromised and used against its owner.

On a basic level, a hacker might want to take over a camera and use it for spying. Still, one should not forget that many IoT devices record user information, whether it is health equipment, smart toys, wearables, etc. On an industrial level, a company’s big data can be collected by hackers to expose sensitive business information.

Some countries are starting to ban specific IoT devices with security problems. For example, the interactive IoT doll with a Bluetooth pin, which gave access to the toy’s microphone and speaker to anyone within the 25-30 meter radius. The doll was labeled as an espionage device and was banned in Germany.

7) Highjacking Your IoT Devices

Ransomware has been named as one of the nastiest malware types ever existed. Ransomware does not destroy your sensitive files — it blocks access to them by way of encryption. Then, the hacker who infected the device will demand a ransom fee for the decryption key unlocking the files.

Here is how a ransomware notice looks like:

Ransomware is evolving, and IoT devices with poor security can become targets as well.

Just before the Trump inauguration speech, about 70% of the Washington DC surveillance cameras were infected with ransomware, leaving the police without the ability to record for several days.

The cases of IoT devices being infected with ransomware are rare, but the concept is quickly becoming a trend in the black hat hacker world. Still, wearables, healthcare gadgets, smart homes, and other smart devices and ecosystems might be at risk in the future.

Here, there is good news, and there is bad news. While this malware might not have valuable data to lock down because most IoT information is stored in the cloud, it can lock down the entire device’s functionality. Imagine that your vehicle will not start unless you pay a ransom fee — or your house is locked down, with the thermostat set to the maximum.

8) Data Integrity Risks of IoT Security in Healthcare

With IoT, data is always on the move. It is being transmitted, stored, and processed.

Most IoT devices extract and collect information from the external environment.

It can be a smart thermostat, HVAC, TVs, medical devices. But sometimes these devices send the collected data to the cloud without any encryption.

As a result, a hacker can gain access to a medical IoT device, gaining control over it and being able to alter the data it collects. A controlled medical IoT device can be used to send false signals, which in turn can make health practitioners take actions that may damage the health of their patients.

For example, a hacked medical IoT device can report a fully charged battery to the maintenance station while, in reality, the battery is about to die. Worse, there are risks of IoT security in healthcare devices like pacemakers or the ones making the insulin shots. The vulnerabilities found on St. Jude Medical’s implantable cardiac gave access to hackers, enabling them to alter the pacing or shocks, or even worse, deplete the battery.

9) Rogue IoT Devices

We might already know about the rapid growth of the number of IoT devices, which is predicted to reach 18 billion by 2022, according to Ericsson. The problem with this number of devices arises not only in the BYOD (Bring-Your-On-Devices) approach in enterprises but also in home networks.

One of the most significant IoT security risks and challenges is being able to manage all our devices and close the perimeter.

But rogue devices or counterfeit malicious IoT devices are beginning to be installed in secured networks without authorization. A rogue device replaces an original one or integrates as a member of a group to collect or alter sensitive information. These devices break the network perimeter.

Raspberry Pi board

Example of rouge IoT devices can take the form of the Raspberry Pi, or WiFi Pineapple. These can be turned into a rogue AP (Access Point), thermostat, video camera, or MITM (Man in the Middle) and intercept incoming data communications unbeknownst to users. Other variations of rogue devices may also emerge in the future.

Interestingly, the horror movie “Child’s Play” was inspired by the concept and can serve as a curious example. In the movie, controlling other devices in a smart home system, Chucky is a rogue IoT device that has become a high-level threat to people’s lives.

10) Cryptomining with IoT Bots

Mining cryptocurrency demands colossal CPU and GPU resources, and another IoT security issue has emerged due to this precondition — crypto mining with IoT bots. This type of attack involves infected botnets aimed at IoT devices, with the goal not to create damage, but mine cryptocurrency.

The open-source cryptocurrency Monero is one of the first ones to be mined using infected IoT devices, such as video cameras. Although a video camera does not have powerful resources to mine cryptocurrency, an army of them does.

IoT botnet miners pose a great threat to the crypto market, as they have the potential to flood and disrupt the entire market in a single attack.

Summary

After the Mirai attack, people realized that any device connected to the Internet is a potential ally for an army of bots. But that was only the beginning.

For now, IoT and security are still not found in the same place. There are still many risks and security challenges of IoT now — and more will inevitably emerge in the coming years.

The more variations of IoT devices we see out there, the more complex IoT security problems will become. International organizations and governments will need to create universal IoT standards to control the security in cities, homes, locations like nuclear plants, the manufacturing process, and other areas and locations.

We have seen the emergence of IoT as a trend in the last few years. There are smart devices coming out that we never thought needed an Internet connection: smart toothbrushes, beauty mirrors, tables, pillows, beds, and the list continues to grow. The world is turning into a network of objects collecting our personal, sensitive information.

We can only imagine the amount of important data hackers could steal from those IoT devices if they do not have proper security. So, the top IoT security threats listed above are just the beginning. If we want our devices smart, we need them to be secure as well.

We, at Intellectsoft, empower companies and their workforce with cutting-edge transformative solutions and data-driven insights. Are you and your organization ready to shift the mindsets and get the most out of innovations?

Talk to our experts and find out more about the topic and how your business or project can start benefiting from it today!

The post Top 10 Biggest IoT Security Issues appeared first on Intellectsoft Blog.

Along with facilitated business operations, the tools of the Internet of Things help insurance companies partner faster, work cheaper, and expand their activity more effectively.

But let’s see whether the involvement of wearables, sensors, and connected tools can keep improving the insurance sector after the COVID-19 changed the world. And how do software solutions for insurance industry transform the vertical.

IoT in Insurance: Use Cases of How the Modern Industry Works

The insurance sector is demonstrating dramatic development. Being generally innovative, insurers gain the most of their current benefits with the involvement of IoT.

In a recent couple of years, all the trustable observers honored the achievements of IoT in insurance. For example, according to McKinsey, the appearance of the digital ecosystem enabled partnering between insurers and outside companies to provide cross-industry service.

The most illustrative use case is the cooperation model under Google Nest for creating the smart house service. In its turn, Deloitte noted the enhanced approach to segmenting customer base and refining pricing models. In particular, the emergence of online rate comparison capabilities is the beneficial consequence of IoT in insurance.

All these trends call digital connectivity to develop even faster and innovate further.

IoT in Life Insurance

One of the top solutions in the sphere of life insurance is mobility/connected cars. This tool enables tracking all the vehicle’s key parameters and its driver behavior — including the intensity of using brakes, the favorable parking places, and the typical driving time.

As a result, the customer gains timely recommendations on preventing the harm of their high-risk actions and increasing driving comfort.

IoT in Health Insurance

In terms of health insurance, IoT introduced smart health. Once incorporated in the smart home ecosystem, it significantly assists people with disabilities, for example, to manage their daily activities.

For other population categories, the achievements of connected health help maintain their healthy state and prevent possible diseases.

IoT Insurance Industry Trends: New Opportunities

Introducing IoT into the insurance sector creates several opportunities.

First, it promises enhanced risk management. With better access to analytical data on driver behavior, it increases the predictability of vehicle use. In addition, customers can enjoy the customized service that accurately fits their needs.

The second perspective is the ability to offer a full-stack type of service. By linking with various outside partners, insurance companies become ready to involve the cross-industry approach to their data-based offering of new services.

Finally, the expansion of IoT technologies creates an environment of better control over finances. This means reducing costs on unnecessary offers and maximizing profits from concentrating on delivering the service people actually want.

2 Key Challenges for IoT Trends in Insurance

On the one hand, the advantages of IoT trends are still hard to achieve in developing countries. Precisely, the immaturity of the insurance market creates chaos in interactions between its key actors. Moreover, the regulation void and widespread illegal driving cause inaccurate predictions on market behavior.

On the other hand, there exist some technical limitations for IoT insurance development from country to country. Mostly, you can’t reach your partner once you and your vehicle leave the homeland. This causes difficulties in expanding IoT insurance trends.

How COVID-19 Affected the Sphere of IoT Insurance

Generally, the Coronavirus pandemic has increased the importance of safety in all the meanings of this word. It refers to the danger of keeping people close in terms of physical distance combined with the intensified use of digital tools, which increases the risk of fraud and vulnerability of business operations.

At the same time, the lockdown caused by COVID-19 left people with their houses and cars alone. And so, they had time to think about enhancing these basic facilities. Surprisingly, this situation attracted the attention of the wide public to IoT insurance technologies.

Future of IoT in Insurance: What Enterprises Can Request from Insurance Companies These Days

Practically, the list of opportunities and the complexity of challenges in front of IoT in insurance achievements determine future work’s direction. In particular, it’s needed to improve the technological base and expand current results abroad.

At the same time, the development of cybersecurity deserves special attention. This trend creates a new dimension in the possible risk management and is highly requested after the reluctant shifting of most of the transactions and business processes online.

Where to Try IoT Tools in the Insurance Industry?

If you’re interested in introducing IoT insurance trends, refer to Intellectsoft. Our task is to empower companies and their workforces with innovation services and approaches to help them survive during these times.

Since 2007, Intellectsoft has been developing impactful and award-winning apps for Fortune 500 companies and established brands. We delivered solutions to:

• Eurostar
• Jaguar Land Rover
• Universal
• EY
• Guinness and other companies

Learn more about the use cases in our Case Studies section.

Talk to our experts today to find out more about the topic and how your business or project can start benefiting from it!

Explore what we offer for the Insurance industry.

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