Telematics – A new business model

Telematics Usage based auto insurance

Much has been written about the pros and cons of using telematics… and many insurers have made a business case for implementing usage-based insurance in the auto industry. However, the challenge often ignored is how to store and analyze this explosion of data created by these activities. First of all, let’s consider the amount of data automotive telematics devices are expected to generate. Every second a telematics device will produce a data record. This data record will include information such as date, time, speed, longitude, latitude, acceleration or deceleration (g-force),…

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Auto insurance accident claims skyrocket in Texas during the Christmas season

auto insurance accident claims

A new report has revealed that the number of crashes increases by 20 percent during the holidays. Allstate has just released a review of its auto insurance claims data, which has revealed that in the state of Texas, there are more car crashes than at any other time of the year. This statement was based on data from the five years ranging from 2006 through 2010. What the analysis determined was that the number of auto insurance accident claims rises the most on December 24, increasing by 22 percent when…

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Auto insurance data shows Ford trucks loved by thieves

Canada Auto Insurance

The IBC has released its report identifying the 10 most stolen vehicles. The auto Insurance Bureau of Canada has just announced its list of the 10 vehicles that are the most popular targets of thieves and has identified Ford trucks at the top of this list, particularly in the province of Alberta. The report covered vehicle thefts from across the country but provided a breakdown by province. This IBC list is issued once per year in order to help auto insurance companies and consumers to better identify the vehicles that…

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Auto insurance customers in some cities pay more

Auto Insurance rates and prices

The five most expensive municipalities have been identified for drivers’ premiums. Owning and maintaining a vehicle can have a lot of cost associated with it, especially when you include the cost of auto insurance premiums and other upkeep and legally required expenses. Even good drivers can face higher premiums based on their location. A recent study has identified the leading five cities in which car ownership can be the most expensive as a result of the increased auto insurance costs. The results of this study were recently released to allow…

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