Nordic IoT solutions success
Transformational IoT solutions will drive down losses and boost underwriting insights to support the
sectors’ return to profit, after six years of market losses
Onics, a leading Nordic Internet of Things (IoT) solutions provider,
has announced its launch into the UK home insurance market, bringing technology proven to lower
claims costs, enhance AI underwriting engines, and improve customer loyalty at a time when the
sector has reported six consecutive years of losses, according to EY.
Headquartered in Denmark, Onics has a strong track record of delivering commercial impact across
insurance, energy, property, and assisted living. Its smart-home solutions are already deployed by
major Nordic insurers – including If Insurance, the largest in the region with 4.6 million customers –
helping them prevent household damage, reduce claims, and strengthen profitability.
pressure and up to 50% of household insurance claims are avoidable. This is against the backdrop of
the global growth of the IoT solutions and services market, estimated at US$ 302.4 billion in 2024 and
projected to reach US$ 661.1 billion by 2029.
“In the UK, home insurers face a challenging market where margins continue to be squeezed,” said Karsten
Ries, CEO of Onics. “We’re here to help insurers return to profit by preventing losses before they occur. As the
power behind AI, we provide the high-quality data needed to unlock its full potential for underwriting insights.
Further, we help insurers offer more value to customers and stand apart in a highly competitive landscape.”
Onics’ IoT solutions prevent or significantly limit damage from the biggest drivers of UK home
insurance claims, including water leaks, fire, and burglary. Its sensors and connected devices provide
structured, reliable data that can be plugged directly into insurers’ risk and claims models via API,
supporting stronger pricing, more accurate underwriting, and proactive intervention.
The company offers insurers a fast route to market, with expert implementation support, a market-
ready and customisable customer app, and simple API integration with existing internal systems.
By offering visible home protection and peace of mind, insurers can reduce churn and deepen customer
relationships. Onics’ platform also supports expansion into new connected-living services – including smart-
home automation and intruder alarms – unlocking new revenue streams as customer expectations evolve.
Onics was formed through the merger of two longstanding IoT innovators: Denmark’s Develco Products and
Norway’s Datek Smart Home. Together, they bring decades of experience in delivering IoT value in B2B and
B2B2C markets, and are now setting a new benchmark for connected living and connected insurance.
