There are more headlines about inflation and the cost of living. Such discussions often include increases in auto insurance premiums and the potential for pay-as-you-go insurance premium reductions, but data from vehicle telematics creates value far beyond pricing. There is a possibility.
In this insurance news analysis, abby compton and I also joined david morseChief Customer Officer cambridge mobile telematics. Learn how insurers are leveraging telematics data across the value chain, from more accurate risk profiling to faster claims.
We typically see usage and behavior-based offers in customer acquisition, but these are starting to be pushed more during renewals. Continuous monitoring allows customers to participate in risk mitigation and management strategies. There’s also the social benefit of helping reduce distracted driving, which David calls “a pandemic in itself.”
Accelerating the future of insurance: Modernizing technologies such as AI and cloud-powered data analytics can help insurers achieve profitable growth through both increased revenue and reduced costs.
