Smart Property Insurance using IoT

IoT has already enforced in many industries including insurance domain. In this paper, a smart reliable insurance system is proposed, for both the insured and the insurer. The main objective of the paper is to detect fire and water clogging incidents by using smart connected sensors. Billions of data is being generated from the IoT enabled connected devices like sensors, to measure temperature, bumidity, smoke etc., These information will be sent to the insurance underwriter to contact on emergency and can permit insurers to dynamically process insurance policies and to calculate premium based on risks.