Telematics could have a major impact on the auto insurance sector

Automakers are beginning to embrace new technology aggressively Juniper Research, a prominent market research organization, has released a new report concerning the growing popularity of telematics in the transportation sector. Telematics is a branch of technology that is meant to keep track of a person’s driving habits and vehicle information. This technology has become particularly popular in the auto insurance sector, where insurance companies are offering new services designed to promote safe driving and provide consumers discounts for practicing safe behavior. Use of in-vehicle applications is expected to skyrocket in…

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Usage based insurance is attracting the attention of powerful technology companies

usage based insurance dashboard

Telematics is becoming an attractive sector for large technology companies Technology companies are beginning to make an entry into the usage based insurance industry, focusing heavily on telematics. Usage based insurance is becoming particular popular where transportation is concerned and auto insurance companies have managed to find traction with consumers with the usage based products they have begun to offer. As large technology firms begin to enter into the market, the insurance tech sector is expected to see major changes in the coming years that could come to define the…

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Telematics begins to have a major impact on auto insurance sector

auto insurance usage based

Reed prepares to close deal on Wunelli Reed Elsevier, a leading information technology company, is preparing to finalize the acquisition of Wunelli, a developer of telematics solutions for the auto insurance sector. Telematics is becoming very popular in the insurance industry because of how it can be used by insurers to price policies more accurately. Demand for this technology has been growing steadily over the past few years and has reached an all-time high as insurance companies continue to look for ways to mitigate losses while also providing high-quality services…

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The Secrets of Cheaper Auto Insurance

Auto insurance is something that people have been trying to figure out how to lower since it was invented. Obviously, it is a bill that has to be paid, yet we always seem to be surprised at the listed rate. People get made at cable companies for their hidden fees, but at least they are honest on the bill about how they reached the total. While, on the other hand, the fees that come along with car insurance bills simply remain hidden, yet you are expected to pay the amount…

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The Most Comprehensive Insurance Telematics Conference & Exhibition

Telematics Update: 60+ Insurers including Progressive, Allstate, USAA and Liberty Mutual Already Confirmed to Attend Insurance Telematics USA 2013 Telematics Update has announced that with a month until the Insurance Telematics USA 2013 Conference (4-5 Sept, Chicago), 67 underwriters, pricing, marketing and product directors from leading insurance companies such as American Family, Farmers, State Farm and USAA have already signed-up to attend. Over the past 13 years, Telematics Update has built an in-depth knowledge on all things telematics, focusing on how these technologies can be utilized by the insurance space.…

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Telematics: The rise of usage-based insurance

Usage based insurance

Usage-based insurance is gaining traction Usage-based insurance coverage had, once upon a time, been considered little more than a fantasy. Now, however, it is becoming much more of a reality as we see insurance giants roll out their new auto insurance plans based on this technology. As the term suggests, usage-based insurance is based on driving behavior. This means that policyholder’s rates are based on how many miles driven, what time of day and safe driving habits and more. Determining whether or not coverage is in use can be a…

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Usage based insurance could change the entire underwriting model

usage based insurance

A growing number of auto insurers are offering telematics programs. As the popularity of usage based insurance grows among both auto insurers and consumers, the data that is provided through the telematics devices is helping to provide more accurate information regarding the risks associated with a certain driver, so that pricing can better reflect that actual risk. This approach is already in place in many parts of the United States, Canada, Europe, and Australia. At the moment, the most common usage based insurance programs in North America are in truck…

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