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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 Cellular Telematics. We talk about how insurers are utilizing telematics information throughout the worth chain from extra correct threat profiling to settling claims quicker.
Whereas we sometimes see usage- and behavior-based presents in buyer acquisition, these are beginning to be pushed extra at renewal. The continual monitoring brings the shopper into the danger mitigation and administration technique. It additionally has a societal good thing about serving to scale back distracted driving, which David calls “a pandemic in itself.”
Gas the way forward for insurance coverage: Expertise modernization, akin to AI and cloud-fueled information analytics, helps insurers ship worthwhile development each by way of rising revenues and slicing prices.
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