Internet of Things (IoT) Timeline in India and Insurance Sector

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The Internet of Things (IoT) has been gaining momentum in India in recent years, with several initiatives and projects being launched. Here is a brief timeline of IoT in India:

 

2014: The Indian government launched the "Digital India" campaign to promote the use of technology in various sectors, including IoT. The campaign aimed to create a digital infrastructure to connect rural and remote areas to the internet and promote the development of IoT-based solutions.

 

2016: The Indian government launched the "Smart Cities" mission to develop 100 smart cities across the country using IoT and other advanced technologies. The mission aimed to make cities more livable, sustainable, and technologically advanced.

 

2017: The Indian government launched the "National Digital Communications Policy" to promote the adoption of IoT and other digital technologies in the country. The policy aimed to create a robust digital infrastructure to support the development of IoT-based solutions.

 

2018: The Indian government launched the "Startup India" initiative to promote entrepreneurship and innovation in the country. The initiative focused on supporting startups working on advanced technologies such as IoT.

 

2019: The Indian government launched the "Smart Villages" initiative to promote the use of IoT and other technologies in rural areas. The initiative aimed to create digital infrastructure and provide services such as telemedicine and e-learning to rural communities.

 

2020: The COVID-19 pandemic led to an increased demand for IoT-based solutions in India. Several startups and companies launched IoT-based solutions such as contact tracing apps, remote healthcare systems, and digital payment systems.

 

2021: The Indian government announced the National IoT Policy, which aimed to promote the development and adoption of IoT in various sectors. The policy focused on creating a conducive ecosystem for IoT startups, developing IoT skills in the workforce, and promoting research and development in IoT.

 

Overall, the IoT ecosystem in India is rapidly growing, and there is significant potential for growth and development in the coming years. IoT-based solutions can help address various challenges faced by the country, such as improving healthcare services, promoting sustainability, and enhancing digital infrastructure.

 

IoT
IoT

The insurance industry in India has also started to adopt IoT technology in recent years, with several initiatives and projects being launched. Here is a brief timeline of IoT in India's insurance industry:

 

2016: ICICI Lombard partnered with IoT startup "CarIQ" to offer a connected car insurance product. The product used IoT devices to collect data on the customer's driving behavior and offer customized insurance plans.

 

2017: Bajaj Allianz launched an IoT-based motor insurance product, called "DriveSmart." The product included a telematics device that collected data on the customer's driving behavior and offered personalized insurance plans.

 

2018: HDFC ERGO launched an IoT-based health insurance product, called "Apollo Munich Optima Restore." The product included wearable devices that collected data on the customer's health and offered personalized health plans.

 

2019: Bharti AXA launched an IoT-based motor insurance product, called "SmartDrive." The product included a telematics device that collected data on the customer's driving behavior and offered customized insurance plans.

 

2020: The COVID-19 pandemic led to an increased demand for digital insurance solutions in India. Several insurance companies launched IoT-based solutions such as remote health monitoring devices, contact tracing apps, and digital claims processing systems.

 

2021: Reliance General Insurance launched an IoT-based motor insurance product, called "Reliance Private Car Insurance." The product included a telematics device that collected data on the customer's driving behavior and offered personalized insurance plans.

 

Overall, the adoption of IoT technology in India's insurance industry is still in its early stages, but there is significant potential for growth and development in the coming years. IoT-based insurance solutions can help insurance companies to offer customized plans and improve their risk management practices, while also providing customers with more personalized and cost-effective insurance options.


Author

 

Maryam Saeed Dogar

 

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