Insurance coverage Information: Driving telematics past the pricing lane | Insurance coverage Weblog

Inflation and cost-of-living headlines are on the rise. Such discussions typically embrace will increase in automotive insurance coverage charges and potential financial savings to be present in pay-as-you-drive insurance policies, however information from automobile telematics can drive worth far past pricing.

On this Insurance coverage Information Evaluation, Abbey Compton and I are joined by David Morse, Chief Buyer Officer at Cambridge Mobile Telematics. We talk about how insurers are utilizing telematics information throughout the worth chain from extra correct danger profiling to settling claims sooner.

Whereas we usually see usage- and behavior-based presents in buyer acquisition, these are beginning to be pushed extra at renewal. The continual monitoring brings the client into the chance mitigation and administration technique. It additionally has a societal good thing about serving to cut back distracted driving, which David calls “a pandemic in itself.”

Gas the way forward for insurance coverage: Know-how modernization, akin to AI and cloud-fueled information analytics, helps insurers ship worthwhile progress each via rising revenues and chopping prices.

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