Insurers can't understand the benefits of wireless technologies unless they experiment with it, as Progressive Insurance has done for the past year. At the same time, the lack of industry standards, coupled with current limits on how much data can be transmitted and received by mobile devices, limits the types of services that wireless devices can support."This is a technology that consumers are dying to use, except for claims and servicing," says Jamie Bisker, a senior insurance analyst with TowerGroup, Needham, Mass., and author of the recent report "Wireless Realities In Insurance."
"It's important not to let expectations for the technology to be driven by hype. Some people believe that because wireless has been successful for the securities industry, then it should be successful with insurance. But there aren't a lot of people out there buying insurance on wireless devices," he adds.
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