Telematics in Insurance?

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Mayank
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Telematics in Insurance?

Post by Mayank » 09 Jun 2018, 17:58

Do you think that Telematics will change the face of Motor Insurance? Let's have a real discussion!

I think the technology changes and as soon as company goes for it, it'll be more than common to price the product on its behaviour. Currently the behaviour distributes evenly between instead Good or bad risk, I'd call it good riders and bad riders!

What do you think of it? We are listening..
 
Mayank Goyal
sohamw97
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Re: Telematics in Insurance?

Post by sohamw97 » 15 Jun 2018, 21:30

Mayank wrote:Do you think that Telematics will change the face of Motor Insurance? Let's have a real discussion!

I think the technology changes and as soon as company goes for it, it'll be more than common to price the product on its behaviour. Currently the behaviour distributes evenly between instead Good or bad risk, I'd call it good riders and bad riders!

What do you think of it? We are listening..
 
I think it will most definitely change motor insurance. In fact,one of the main applications of telematics is in motor insurance pricing. Imagine having real time data of the driver, we will be able to price the policy more accurately. The only limitation that I can think of is if there are multiple drivers for a single vehicle, we might not be able to get accurate data.

Sent from my Moto G (4) using Actuarial Info mobile app

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