Security Insurance Security Future Combination

If there are no crimes and natural disasters in the world, then family homes do not need to protect their homes for a long time. Apart from the accumulation of dust, the homes can be safe and sound. But such an ideal world is still far away from us. We have to take some measures to protect our shelter and make the living environment safer. Many homes have installed basic security systems to prevent accidental injury such as burglary and fire, but these facilities do not guarantee that the home is truly out of danger. In case of misfortune, the owners always hope that the losses will be compensated and they will come out of the shadow of disaster as soon as possible. If the family home does not purchase proper insurance, it cannot be compensated. Dave Newbury, chairman of public relations at the British Security Industry Association (BSIA), said: "Even security systems cannot replace the role of proper insurance."

Low and even lower Although it is very important to take proper insurance, many people regard insurance as a burden. For frugal owners, when planning for personal finances, they want to save the cost of family insurance.

One way to save home insurance costs is to install an anti-theft alarm system for your home. If your family home has taken steps such as installing an alarm system to increase safety, then many insurance companies can discount your premium. Because doing so, you may reduce the number of your insurance, and correspondingly, the risks borne by insurance companies will be even smaller.

However, the policies of different insurance companies in the world vary greatly. For some insurance companies, installing only one alarm system does not justify the premium discount. Vince Northey, Underwriting Manager of Agricultural Insurance Company of Canada, said: “Our insurers need to confirm whether the alarm system is installed and whether it is only the local alarm system or the alarm system of the security operation. We are not trying to determine the effectiveness of the security system. We have a better premium discount for families with a security operation and alarm system than those who only have a local alarm system."

Some insurance companies may have more detailed regulations. Many insurance companies require homes that are insured to be equipped with fire-fighting facilities and anti-theft alarm equipment in order to obtain discounts. Lou Martorello, senior vice president of sales at WorldWideSecurity, said: "Some insurance companies are now requiring homes to install flood monitoring and cold warning equipment and to install more sensors at home to achieve better monitoring."

If burglary is not valued by the family or if it is not affected by the policy, taking measures to prevent theft will not have too much impact on premiums. “In the UK and many other EU countries, theft of premiums is a small part of the total premium, so the final savings are not much,” said Tony Makosinski, member of the Public Relations Committee of the Security Industry Manufacturers Association of the British Security Industry Association (BSIA). Says, "An insurance company recently told me that after installing the alarm system, there was only a 5% discount, and it was only part of the entire policy for theft insurance."

Should you save money or be safe?

When people purchase a professional monitoring system, the main concern is how effective the security system is and what level of security protection can be provided. Premium discounts are only a small factor for these people. Matia Grossi, Head of Physical Security Research at Frost & Sullivan Europe, Middle East and Africa, said: “For a system that costs between US$900 and US$3,000 and costs US$400 to US$600 per year for security operations, it costs tens of U.S. dollars (US$30 to US$200). The discount is not really attractive."

Many owners are most concerned about ensuring the safety of their families and property, rather than saving premiums. For them, the discount is more like an extra surprise. When finance came two years ago, the development speed of the security industry declined. “However, no matter how economic the situation is, and how the world changes, criminal activities did not stop there,” Martorello said. “Home users lose their sense of security and they need to be safer than ever before, and the demand for traditional security systems has increased.”

However, as the economic recession caused by the financial crisis continued, some objective factors greatly reduced the residents' expenditure on security. Newbury said: "Most security solutions are designed to stop crime. Although this function makes them difficult to predict in terms of protecting property, it also means that we don't always record how many times Criminals were scared off by seeing the installation of anti-theft alarm products in their homes.Uncertainty in the economic situation, if security products cannot determine the number of crimes to stop, it means that the owners cannot understand the security products that protect the family. The real effect of this must be to reduce the expenditure on security."

Considering security and insurance, there are better choices. When considering which security products to purchase, owners often follow the trend. They will refer to the choices of other family members, friends, or neighbors. Only customers who urgently need security products will know in advance what kind of services and products they need. "Usually, potential customers can get reasonable product recommendations from trusted institutions by discussing with insurance companies and agents," Newbury said. For security companies, working with insurance companies means that insurance companies can get recommendations for their products, Martorello stressed.

However, insurance companies are generally reluctant to recommend the brand name of the device directly to customers because they do not have professional knowledge of security equipment or security technology and products. Newbury said: "In general, insurance companies only give guidance on the areas that need protection, and then let security equipment suppliers give specific product specifications. For suppliers, the product is a formal third party Recognition by industry organizations or associations is necessary, such as British BSIA or national security regulators, or security systems and alarm investigation committees."

A complete system will often use equipment from different manufacturers. Makosinski said that contractors, manufacturers, and insurance companies work together to ensure that selected products are selected and that they help provide materials on the details and specifications of the alarm components. More and more insurance companies require owners to install alarm systems for their homes or businesses before they are insured to reduce risks.

Updating the security system and adopting the latest technology may not affect the premium. “We encourage policyholders to independently determine what level of security they really need,” Northey said. “As the use of new technologies becomes more widespread, we will consider the impact they have and the overall losses they suffer before deciding on the current Whether or not the policy needs to be adjusted. Otherwise, we will not give additional discounts for different technologies."

Future progress in how to “play around” secure IT technology has promoted the development of the security industry and created new opportunities for vendors and service providers.

Martorello said: "With the advent of new technologies, including remote video access and control through the Internet and mobile devices, business and home customers have increased their security and personal safety requirements. These technologies are based on secure means of communication." Newbury said that broadband can provide higher data transmission rates, lower data transmission costs, and thus promote the application of security equipment.

During the economic downturn, more and more people chose DIY to build their own security systems and monitor them, replacing professional security operation services.

With the popularity of smartphones and other mobile devices, owners can browse surveillance images when they are out. Martorello mentioned: "A lot of customers have superb computer skills. They want to have the same level of alarm and life safety systems both at work and at home, and they expect these systems will improve their quality of life and improve their work. effectiveness."

Change and progress are always good things. "Internet-based services have driven the birth and application of many new products. All security practitioners should seize these opportunities," Newbury said. "Remote monitoring is just one example." Today, more and more People can enjoy broadband Internet and fiber-optic network services, and communications and operating companies are starting to provide security services to increase their revenue sources. But in this market, success is not easy, and communications and operating companies often need to operate for several years. It needs to train its employees. There are already many online training institutions that provide such training services.

As network bandwidth costs decrease, new business models continue to emerge. For example, video management services are provided to customers. The customer's video information is processed through the central server's VMS system using cloud computing technology. Security personnel and owners can send video information to service providers anytime, anywhere through a network interface, and service providers are responsible for storage and management.

Privacy in this business model is an unavoidable issue because of the potential for video leakage. "Information being peeped may indeed be a problem, but we can avoid it by improving protection measures," Martorello said. "The IT technology department should propose a set of security mechanisms to prevent leakage from the technical level. However, these new business models It is true that more services can be provided, but not necessarily for each user group, including home users."

For home users, security and insurance are not antagonistic. Both are necessary to ensure the family's peace of mind. Taking security measures to make homes safer can indeed bring benefits of lowering insurance premiums. But in the end, why are security measures not an additional benefit?