Survey indicates most homeowners are concerned about home maintenance but it is not top of mind when considering smart home technology
Smart smoke and carbon monoxide detectors, wireless doorbell cameras,
and keyless entry are among the top 10 smart home technologies for
homeowners age 50 and older, according to new research from The
Hartford and the MIT
AgeLab.
“Smart home technology can make life easier for people of all ages, but
it can be especially beneficial to those ages 50 and older as their
lifestyles change,” said Jodi
Olshevski, gerontologist and executive director of The
Hartford Center for Mature Market Excellence. “Keyless entry is
convenient for active households, especially if there are multiple
generations living under one roof. Wireless doorbell cameras can provide
safety and peace of mind to families who travel or to individuals who
live alone.”
The research consisted of an extensive review of 25 technologies by a panel
of leading experts on housing, aging and technology. These reviews
were used to identify the top 10 technologies that can make life easier,
help with home maintenance, and enhance safety and security for
homeowners over the age of 50. The
top 10 technologies include:
1. Smart smoke and carbon monoxide detectors
2. Wireless doorbell
cameras
3. Keyless entry
4. Automatic lighting
5. Smart
water shut off valves
6. Smart home security systems
7. Smart
outlets/plugs
8. Smart thermostats
9. Water and/or mold
monitoring sensors
10. Smart window blinds
“How we live has an enormous impact on our happiness and well-being,”
said Joseph F. Coughlin, Ph.D., director of the MIT AgeLab. “Smart home
technologies offer innovative opportunities to make living easier and to
help people protect their homes.”
Smart Home Technology Can Help with Home Maintenance
In addition to the expert panel, The Hartford and the MIT AgeLab
surveyed homeowners age 50+ to gauge their perspectives on smart home
technology. The survey found that their No. 1 concern about their home
is maintenance. However, maintenance was not their top choice when
considering the benefits of smart home technology. They cited safety and
security (49 percent), saving energy (47 percent), and making day-to-day
life easy and convenient (33 percent) as the top three benefits.
“As a homeowner’s insurer that specializes in the mature market, we pay
close attention to new smart home technologies and what our customers
are interested in,” said Olshevski. “While many homeowners associate
this technology with safety and convenience, smart home devices can also
help protect their homes and prevent situations that can result in
costly repairs, such as burst pipes or water leaks.”
Some of the technologies on the list that can help avoid potential
problems before property damage occurs and may help avoid costly
repairs, include:
-
Smart smoke and carbon monoxide detectors
-
Smart water shut off valves
-
Smart thermostats
-
Water and mold monitoring sensors
According to the survey, just over half (51 percent) of homeowners over
the age of 50 either have smart home technology or are interested in
buying it. Of those who do not currently have smart home technology but
plan to purchase it or are interested in getting it, about half (49
percent) are willing to spend between $101 and $500 on it in a year.
When considering smart home technology, The Hartford and the MIT AgeLab
recommend that mature homeowners:
-
Research what’s out there and the benefits of the technology
-
Determine what might work best for your home and family
-
Visit www.thehartford.com/smarthome
to take a tour of a digital smart home and learn more about how these
technologies work
This recent study builds on many years of research by The
Hartford Center for Mature Market Excellence focused on empowering
50+ homeowners to maintain their safety, independence and well-being.
Methodology
The Hartford and the MIT AgeLab identified a list of experts who were
professionals with expertise in the housing, technology and aging. The
panel of nine experts completed questionnaires reviewing 25 different
smart home technologies. The results of these reviews were used to
identify the top 10 technologies with benefits for 50+ homeowners.
YouGov conducted an online survey among 1,092 homeowners in the U.S.
between Oct. 6-10, 2016 of whom 728 were 50+. Margin of error for this
study is +/- 3.6 percent at the 95 percent confidence level.
About The Hartford
The Hartford is a leader in property and casualty insurance, group
benefits and mutual funds. With more than 200 years of expertise, The
Hartford is widely recognized for its service excellence, sustainability
practices, trust and integrity. More information on the company and its
financial performance is available at https://www.thehartford.com.
Follow us on Twitter at www.twitter.com/TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates
through its subsidiaries under the brand name, The Hartford, and is
headquartered in Hartford, Conn. For additional details, please read The
Hartford’s legal notice.
About The Hartford Center for Mature Market Excellence
The Hartford Center for Mature Market Excellence creates innovative
business solutions for the mature market. Staffed by gerontologists, the
center is uniquely positioned to apply knowledge of aging to develop
one-of-a-kind products and services for The Hartford's customers, and
specialized training for The Hartford's employees. The center conducts
original research in partnership with academic institutions and produces
public education programs on safety, mobility and independence. The
Hartford has had this in-house expertise since 1984, guiding The
Hartford to unparalleled success in understanding and serving the mature
market. Follow us on Twitter at www.twitter.com/TheHartfordCMME.
About the MIT AgeLab
The MIT AgeLab is a multidisciplinary research program that works with
business, government, and NGOs to improve the quality of life of older
people and those who care for them. The AgeLab applies consumer-centered
systems thinking to understand the challenges and opportunities of
longevity and emerging generational lifestyles to catalyze innovation.
For more information go to agelab.mit.edu,
or follow the AgeLab on Twitter @JosephCoughlin.
HIG-N
Some of the statements in this release may be considered forward-looking
statements as defined in the Private Securities Litigation Reform Act of
1995. We caution investors that these forward-looking statements are not
guarantees of future performance, and actual results may differ
materially. Investors should consider the important risks and
uncertainties that may cause actual results to differ. These important
risks and uncertainties include those discussed in our 2015 Annual
Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the
other filings we make with the Securities and Exchange Commission. We
assume no obligation to update this release, which speaks as of the date
issued.
From time to time, The Hartford may use its website to disseminate
material company information. Financial and other important information
regarding The Hartford is routinely accessible through and posted on our
website at https://ir.thehartford.com.
In addition, you may automatically receive email alerts and other
information about The Hartford when you enroll your email address by
visiting the “Email Alerts” section at https://ir.thehartford.com.
