The world is getting smarter, and insurers, usage-based insurance (UBI) and insurance telematics are getting brainier as well. Both insurers and customers are finding smarter ways to buy and sell insurance. And it’s all thanks to the rise of insurance telematics.
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Despite the many effective applications of automotive telematics, there remains a fundamental question. How can insurers, drivers, and lawmakers use that data to implement driver coaching and improve driving behavior? And, how can they make sure those positive changes stick? Knowledge is power. And automotive telematics shines a precise and helpful light onto driving behavior that many drivers may or may not be aware of.
Artificial intelligence, or “A.I.,” has already begun to transform things that were familiar to us into things that are much smarter, faster, and better. We choose movies, compose text messages, discover new music, and get driving directions all with the help of A.I. But how can artificial intelligence improve insurance?
The commercial auto insurance industry is shifting. And how it underwrites, prices, and sells fleet insurance is creating new profitability challenges. The industry clearly needs a fundamental change. Incremental optimizations have yielded eight straight years of red ink. To save commercial auto insurance for fleets and insurers, something needs to change.
To change negative driver behaviors, it’s not enough to track your drivers. You have to coach them towards a perfect safety record – but how exactly is this done? Here are Fairmatic's three steps to implementing a successful driver coaching program.
The rise of data is the rise of information. And in vehicle telematics, that information matters to insurers. Which brings up the issue of insurance data exchanges.
Data is changing the insurance industry for the better. That’s thanks to driver behavior models and how they improve insurance lead generation.
With the rise of telematics, the technology that enables real-time transmission of data, both drivers and insurers are beginning to better understand our roads.
When it comes to auto insurance telematics, claims are where the rubber meets the road.
Claims make up the majority of expenses for automotive insurance providers. And claim resolution is both the reason drivers have insurance, as well as their biggest consideration when choosing a provider.
What is the future of autonomous vehicle insurance? It is a question that grows more important every day.
With companies like Toyota, Uber, and Google, currently working to perfect the technology, the question is not will autonomous vehicles fill our roads, but when?
When you pay your commercial insurance bill, do you ever wonder what’s behind the premium? How does your fleet's driving impact the cost, and how can you control it? Could safer, more responsible driving save you money?