IOT/Telematics

The analyst firm says that usage-based insurance is an elegant solution to ensure accurate cover in the ride-sharing economy.

It’s not just a question of connecting up a lot of devices. They have to be implemented to improve operations currently in use.

In 2016, 5.5 million new things will get connected every day, and total connected things will reach 20.8 billion by 2020, the report says.

The insurer is supporting Augury, which uses sensors to predict HVAC equipment breakdown.

The companies will form a group of strategic partners to work together on areas conducive to promoting connected electric cars.

Fitbit’s biggest Chinese rival plans to introduce the line of more sophisticated fitness trackers over the coming year -- at one tenth the price of the U.S. company’s gadgets.

The telematics provider is now incorporating IBM and Weather Company data in its mobile usage-based insurance algorithm in Europe.

KPMG research provides a glimpse into what insurance companies expect will happen to the risk sector as driverless cars move into the mainstream.

With Volvo’s announcement that they would accept all liability for the car in autonomous mode we see the first of three steps towards the end of auto insurance.

As telematics-powered usage-based insurance gains steam, underwriters are learning a lot about their customer base with new data that wasn’t previously available.