February 25, 2019 09:28am
T

he integration of the Internet of Things (IoT), the interconnection from the Internet of computing devices embedded in everyday objects, has started to change how businesses will accomplish things.

The Amazon Echo, better known as “Alexa,” is tied into Televisions, thermostats and lighting so a voice command can control each of these devices. Searching the internet doesn't even require a smart phone.  So, if the IoT is changing my life what do you think it will do for business owners?

The Building Internet of Things (BIoT) is rapidly changing. The BIoT is similar to the IoT, however it applies to the functions of commercial buildings such as HVAC systems, lighting, security equipment, and so much more. Connections have gone beyond just devices within a single system communicating, but have created connections among multiple systems in a building and between multiple buildings.

HVAC systems will become more efficient as automatic notification of system or performance problems are made to an app. Occupancy programming will integrate elevators, HVAC and lighting to provide efficiencies for business owners and a better work environment for the employees.

Alarm systems will be affected by the Building IoT. It could track the security credentials of who is still in a building in case of an emergency. The same credentials could take a person to the desired floor in a building without touching a button.

The maintenance for all systems connected to the IoT will also change. The IoT will provide real-time data so if a system needs service, a technician will arrive with the proper parts to repair the system. The need for Equipment Breakdown Insurance offered by companies such as Hartford Steam Boiler and FM Global will become more important than ever.

As systems become tied together the potential for loss of business income and the need for business recovery expenses will hinge upon the proper policies being in place. If you have any questions regarding the IoT and your business, contact your Trusted Choice Independent Insurance Agent at Richey-Barrett Insurance.

Share this post

Free and Valuable Insurance Review
President

You simply cannot afford to take any chances with your insurance protection. If disaster strikes you need to be protected. Everyone’s insurance needs are different, and there is no single insurance company that could ever possibly protect everyone because of their unique circumstances and changing needs. The best way to ensure you have the coverage you need is by contacting a Trusted Choice Independent Insurance Agent.

Your independent insurance agent is uniquely positioned to provide you with coverage options from several different highly rated insurance companies. This freedom will allow you to choose the protection you need and enjoy the peace of mind that you deserve.

Second Opinion
Our Free and Valuable Insurance Review provides you with a second opinion to ensure you are properly protected.

Help Protect You from Unknown Liabilities from Business and Life Changes
-New Piece of Equipment, Purchasing a New Business or building codes are just 3 examples of business changes that need to be reviewed so your business can properly be protected.
-Just married, new child on the way or purchasing a new home are just 3 examples of important personal life changes that need to be reviewed to ensure you and your loved ones are properly protected.

Learn About Important Newly Designed Protection for:
-ID Theft/Cyber Liability
-Systems Breakdown
-Telematics

Verify You are Getting the Discounts You Deserve

Receive Free Regular Insurance Reviews to Meet Your Needs
We did not build our business over 100 years by just selling insurance policies. We will tailor make an insurance review program specifically to meet your needs to help make sure you protected over time.