Inflation and cost of living headlines are on the rise. Such discussions often include higher car insurance rates and potential savings in pay-as-you-drive policies, but data from vehicle telematics can bring value well beyond pricing.
In this insurance news analysis, abby compton I joined David Morsechief customer officer Cambridge Mobile Telematics. We discuss how insurance companies are using telematics data across the entire value chain, from more accurate risk analysis to faster claims resolution.
While we typically see usage and behavior-based offers during customer acquisition, these offers start to get more of a push at renewal time. Continuous monitoring keeps clients informed of risk mitigation and management strategies. It also has the social benefit of helping reduce distracted driving, which David calls “an epidemic in itself.”
Driving the future of insurance: Modernizing technologies like artificial intelligence and cloud-driven data analytics can help insurers achieve profitable growth by increasing revenue and cutting costs.
