  Internet of Thing (IoT) is looking over to overhaul the business processes of
many industries including insurance domain. The current line of business such
as Property and Casualty, Health, and Life Insurance can avail tremendous
benefits from the contextual and relevant data being generated from billions of
connected devices; Smartphone's, wearable gadget and other electronic smart
sensors. For P&C insurer's the biggest challenges is not the rapidly changing
environment but tackling these challenges with strategies linked to the past.
  This paper presents the key opportunities, challenges, potential applications
and risks of IoT in Insurance domain. It crystallomancy on the efficient use of
data analytics from data generated in IoT ecosystem and highlights business
model changes that Insurance industries may face in near future.
