Usage-based auto insurance: a new technological dawn?
With over 10% penetration of the auto insurance market, UBI product availability has already persuaded a substantial and growing number of U.S. drivers to allow their driving behavior...
3 Examples of How Telematics Can Aid Insurance Claims Handling
While information derived from usage based insurance telematics hasn’t been fully utilized in the claims process, the benefits it can provide – consistency, efficiency and accuracy – offer...
Survey studies consumer desire for In-Vehicle Technology, and willingness to pay for it
A new global survey on consumer preferences for automotive technology finds more consumers desire advanced technology in their next new vehicle. However, their willingness to pay for technology...
A closer look at the online insurance consumer [infographic]
According to a report by Celent, 26% of online consumers said they would buy insurance online. Additionally, 28% said they prefer to interact with insurers via online channels....
Insurtechs provide a boost to claims experience
Much has been written of late about how the insurtech movement is transforming the industry. While some of these solutions are actually in use, many are still conceptual...
Why telematics is claims’ new best friend
Nobody can have too many BFF’s (that’s "best friends forever," as texted between teenagers). That statement goes double for claims adjusters who are frequently seen as “bad guys”...
The Usage-Based Insurance (UBI) Short Cut
I’ve been following telematics in insurance since 2012 and the main thing I’ve noticed is that the application of telematics by insurers moves at a sluggish pace. While...
Why Liberty Mutual is diving deeper on telematics
Usage-based insurance has been kick-started this year thanks to advances in technology, and Liberty Mutual has taken notice. The company announced upgrades and additions to its UBI portfolio...
How To Tell If Usage-Based Car Insurance Is Right for You
Plug-in devices that monitor aspects of an auto insurance customer's driving are nothing new. And it's nearly impossible to miss the commercials touting the savings that good drivers...
UBI global market grew by 32% in 2016 to 14 million policies
According to Quarterly UBI Dashboard of Ptolemus Consulting, North America represents the biggest market to date with over 7.1 million active policies. This compares to 6.5 million active policies...