IOT/Telematics

Cambridge Mobile Telematics research has shown that the right type of insurance telematics programs can help maintain and even improve safe driving behaviors.

Only 24 states have such laws in place but there is legislation in the works in 21 others.

Nationwide, Travelers discuss the epidemic and possible mitigation efforts insurers can lead.

More publicly available digital information means underwriters have greater access to information on potential risk.

Keynova Group released its Q1 2022 Mobile Insurance Scorecard, which evaluates the mobile website and mobile app offerings from the 12 largest U.S. property and casualty firms.

Insurers are moving towards embedded risk-rated customer acquisition, offering the safest drivers the opportunity to secure a better premium directly within their existing insurance experience.

Nationwide recently announced a new partnership and the expansion of another as the company continues to grow its Internet of Things capabilities.

The company announced the launch of its first offering in February, a telematics-based platform that is designed to modernize commercial fleet insurance by using vast amounts of driving data gathered from sensors on trucks.

Partnerships between automakers and insurance carriers have existed for decades, but more recent deals offer customers insurance options at the point of sale using telematics data capabilities built into connected-car platforms.

Many insurers anticipate an accelerated economic recovery, which can lead to additional digital technology investments in 2022. However, the challenges companies both big and small are facing due to a volatile risk environment continue to be both hurdles and motivators towards technology adoption. One of the pieces to help overcome these hurdles is talent.