On the Identification, Evaluation and Treatment of Risks in Smart Homes: A Systematic Literature Review

Raphael Iten, Joël Wagner and Angela Zeier Röschmann
Additional contact information
Raphael Iten: Institute for Risk & Insurance, ZHAW School of Management and Law, Technoparkstrasse 2, 8400 Winterthur, Switzerland
Joël Wagner: Department of Actuarial Science, Faculty of Business and Economics (HEC), University of Lausanne, Extranef, 1015 Lausanne, Switzerland
Angela Zeier Röschmann: Institute for Risk & Insurance, ZHAW School of Management and Law, Technoparkstrasse 2, 8400 Winterthur, Switzerland

Risks, 2021, vol. 9, issue 6, 1-30

Abstract: The emergence of smart technologies in homes comes with various services and functions for everyday life. While a smart home (SH) is associated with great potential in terms of comfort and risk treatment, it also introduces new and alters existing risks. Despite a growing number of academic studies on SH risks, research is fragmented with regard to its focus on certain disciplines and is still rather technology-focused. In this paper, we fill this gap by providing a comprehensive understanding of relevant risks through a systematic literature review. Following the guidelines of the PRISMA reporting protocol, we search 1196 academic and practitioners’ publications related to household risks or risk perceptions of SH users. A final set of 59 records results in three main themes. They include (1) a synthesis of pre-existing and emerging risks sketching the new risk landscape of SH households, (2) a discussion of the prevailing risk evaluation methods, and (3) a presentation of SH-related risk treatment options with a particular emphasis on insurance. We specify the influence of SH on risks and risk perception, and highlight the relevance of analyzing the interconnection of risks in complex systems, such as SH. Our review lays the basis for assessing SH risks and for enabling more comprehensive and effective risk management optimization.

Keywords: smart home; risk identification; risk evaluation; risk treatment; insurance (search for similar items in EconPapers)
JEL-codes: C G0 G1 G2 G3 K2 M2 M4 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.mdpi.com/2227-9091/9/6/113/pdf (application/pdf)
https://www.mdpi.com/2227-9091/9/6/113/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jrisks:v:9:y:2021:i:6:p:113-:d:570813

Access Statistics for this article

Risks is currently edited by Mr. Claude Zhang

More articles in Risks from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().