Connected cars are rapidly changing the way auto insurers handle policies. The emergence of usage-based insurance (UBI) has created several new opportunities for insurers to incorporate driving behavior data, such as speed, hard breaking and other contextual factors. Read the full article to learn more about the opportunities for automakers to partner with insurance providers to increase the adoption of UBI and other telematics-driven offerings.
Nationwide recently hired a commercial telematics director, Pete Frey, who has spent a lot of time focusing on connected car technology. In this article, Mr. Frey shares the lessons he has learned from telematics in the automotive sector and how to apply these lessons in insurance.
Two industry experts have weighed in on the issue of driver-less cars,
saying that the auto insurance industry can adapt to this highly
Research and computer modeling conducted by Accenture and the Stevens Institute of Technology projected that by the year 2035, as many as 23 million fully-autonomous vehicles will be traveling on US highways, out of the roughly 250 million total cars and trucks registered in the country.
Did you know UBI data laws currently vary state by state in the U.S.? This is just one of the many hurdles in today's regulatory environment. Watch this informative video to find out:
- The secret to success in starting, or expanding, your connected car insurance initiative
- The percentage of insurers that will be utilizing UBI technology by 2020
- Three tips for navigating today's legal environment
- And much more!
The auto insurance industry is experiencing its most seismic shift since it began more than 100 years ago. Ahead of the Connected Vehicle Insurance Summit, we spoke with Aparajithan Rajendran, Solutions Architect for Next Generation Telematics at Honda, to hear his thoughts on operationalizing data to increase tactical level solutions, establishing a UBI program, the future of car insurance, and much more.
As the automotive industry moves towards autonomous driving, today’s new cars gather and process increasingly vast amounts of data. Vehicles equipped with an array of sensors and cameras generate data about how they are used, where they are on the road, the surrounding environment, and the operating status of a variety of systems and components. In the next few years, this data will be used widespread by insurance providers.