You could use this event handler to display a letter "C" on the micro:bit LED grid so you know you have a Bluetooth connection. Or you might want to send some data you've been accumulating to your smartphone as soon as it connects to your micro:bit. Maybe you've been using the accelerometer in your micro:bit to count your steps for example. Using this event handler you could send the accumulated step count to your phone when it establishes a Bluetooth connection.