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Technology is affecting the future of the insurance industry

November 28, 2014November 25, 2014 S.Vagus

Insurers are beginning to feel the need to embrace technology more aggressively Technology is beginning to shape the future of the insurance industry. Strategy Meets Action has released a new report that highlights the role that technology is playing in various insurance sectors. As various forms of technology begin to play a larger role in society, insurers are feeling the need to adapt, providing new services and products that account for this ongoing trend. Though investments in the tech field have dropped this year, the insurance industry may still see…

Auto insurance telematics market is growing quickly

October 24, 2014October 22, 2014 Nordstrom

Demand for telematics technology has reached a new high in many parts of the world A new report released by Timetric shows that the insurance telematics market is set to see strong growth in the coming years. The demand for telematics technology within the insurance industry has been on the rise for some time, particularly among auto insurance companies. This technology is used to track consumer information and is becoming a valuable tool for auto insurers looking to offer new products to drivers. Telematics has lead to the creation of…

The Insurance Industry and Technology

October 11, 2014October 10, 2014 Note From The Editor

The insurance industry has long been wrestling with ways to engage and retain customers. Like any business, insurance companies have to evolve with changing times and the way that consumers interact with one another and how they choose to interact with companies. Technology has become one of the most powerful forces in the world and insurers are having trouble adapting to this fact. Throughout the insurance industry, companies are beginning to adopt new business strategies that are based on the use of new technology. Some of this technology has to…

Usage-based auto insurance is becoming more acceptable

September 12, 2014September 9, 2014 S.Vagus

New study shows that consumers are becoming more comfortable with usage-based insurance coverage LexisNexis has released a new study concerning telematics and usage-based auto insurance coverage. The study notes that consumers in the U.S. are becoming considerably more comfortable with the idea of usage-based insurance, largely because of the savings they can take advantage of. Rate discounts are a main driver behind the adoption of telematics among drivers and businesses that manage vehicle fleets. Drivers do have some privacy concerns, however, in regards to the information that telematics systems collect.…

Telematics could have a major impact on the auto insurance sector

July 3, 2014July 3, 2014 Logan B.

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…