A new white paper from Parks Associates and Assurant addresses new opportunities for device protection and data privacy services among home security providers.
DALLAS – Consumers want better warranties on their products, but not from a place of distrust. We’ve all been there in a ‘worst case scenario’, where something that would last for years falls apart after three days in some freak accident.
It’s a comfort to have that support and backing — especially when we’re talking about something as critical as a security system — and in some cases, good warranty service can be just as important as the product itself.
How big of a selling point, you may ask? It’s enough that over two-thirds of consumers in a recent Parks Associates study said they’re interested in warranty service when they buy a professionally installed security system.
“Smart device owners are showing interest in warranties as well as support and protections for their connected devices as add-on services,” says Frank Saldaña, research analyst, Parks Associates. “Our research shows that nearly half of respondents have purchased some form of extended warranty/device protection service, up 15% from Q2 2019.”
As part of the white paper, Protect the Connected Home: Home Security Meets Personal Privacy, the research, released in partnership with Assurant, highlights consumer privacy concerns regarding smart home devices and the opportunities for pro warranty monitoring security providers, cyber security and other added services.
As consumer privacy concerns are a barrier to smart device adoption, home security providers can offer device protection and data privacy services, enabling them to leverage their skills, assets and customer service relationships.
“The increase in the need to connect over the past several years, along with the dangers of phishing and identity theft, has opened consumers’ eyes to the need to protect their personal identity,” says Jeff Unterreiner , president of US Connected. Live on Assurant. “Along with personalized support, these value-added services are critical to consumer adoption in the connected home.”
Therefore, Parks Associates notes that home security firms are able to offer privacy and personal data security, as well as warranties, such as add-on services.
“Home security owners have placed a significant level of trust in their security providers to ensure the protection and monitoring of their homes. Protecting the digital aspects of home life is a natural fit with the core security value proposition,” says Saldaña.
This article first appeared on SSI’s sister site CEPro.com.
Nick Boever is the Web Editor of CE Pro.