This spring, an xLab student research team partnered with a large insurance company to explore how smart home technology could power a digital twin of customers’ properties—offering a novel approach to assessing and managing home-related risks. Drawing inspiration from current auto insurance programs that reward safe driving, the team examined how similar data-driven incentives could be applied to homeowners. The result: a more accurate and dynamic framework for risk assessment.
To support this vision, the team conducted in-depth market research on consumer attitudes toward smart home adoption and data-sharing with insurers. Their findings informed the identification of high-potential rollout states and strategic partnership opportunities across the home repair, inspection, construction, and smart tech sectors.
As a culmination of their work, the team developed a new rewards system to help customers better understand and reduce their risk profile. They also created a proof-of-concept insurance app that integrates core insurance services—like policy details and agent contact—with smart home data and a digital twin interface, demonstrating the future of proactive, tech-enabled home insurance.
Article Date
May 06, 2025