Usage based insurance is causing a growing privacy concern

usage based insurance data security

Though consumers are keen to save money on their policies, they wonder if they might be sharing too much. With the increasing popularity of usage based insurance programs, individuals and organizations are starting to look beyond the potential for saving money and are discovering that a large amount of information is being shared with the insurers. This is causing them to question exactly what and how much data is being collected. A vehicle is already naturally collecting a great deal of information about the way that a driver uses it.…

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What you should know about usage based insurance

Usage based insurance

How telematics may change driver behaviors. Usage based insurance is on the rise, and it is showing no signs of slowing down as it combines telematics with GPS technology and onboard diagnostics to help insurers to better understand the behaviors of their policyholders while behind the wheel. Though the impact on price is starting to be understood, what has yet to be seen is the impact on drivers. The technology is able to tell an insurance company where a car is located, how fast it is going, how many left…

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Usage based insurance grows in popularity with car insurers

usage based insurance auto

Telematics are increasingly used to help drivers to slash their premiums. Telematics – a form of device that is installed into a vehicle to monitor the way it is drive – are already being used by a few insurers as a part of usage based insurance efforts to help to keep rates down, and are expected to become much more popular, quite quickly. Studies and consumers are reporting that rates can fall by 20 percent or more with this technology. Moreover – and perhaps just as positive as the reduced…

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Innovative new technology provides new methods of encouraging road safety

Auto insurance industry eyeballs new technology to help with distracted drivers Many people believe that they are safer drivers than the average motorist, but this overconfidence in their ability can actually cause some people to be more dangerous on the roads than their skills require them to be. These individuals often feel that they are very good drivers, but that it is others who are the road users causing accidents. However, true road safety is dependent on the behaviors and decisions of individuals who understand the strengths and limitations of…

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