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Inflation and cost-of-living headlines are on the rise. Such discussions usually embody will increase in automotive insurance coverage charges and potential financial savings to be present in pay-as-you-drive insurance policies, however information from car telematics can drive worth far past pricing.
On this Insurance coverage Information Evaluation, Abbey Compton and I are joined by David Morse, Chief Buyer Officer at Cambridge Cell Telematics. We talk about how insurers are utilizing telematics information throughout the worth chain from extra correct threat profiling to settling claims sooner.
Whereas we sometimes see usage- and behavior-based provides in buyer acquisition, these are beginning to be pushed extra at renewal. The continual monitoring brings the shopper into the chance mitigation and administration technique. It additionally has a societal advantage of serving to scale back distracted driving, which David calls “a pandemic in itself.”
Gasoline the way forward for insurance coverage: Know-how modernization, resembling AI and cloud-fueled information analytics, helps insurers ship worthwhile development each by way of rising revenues and chopping prices.
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