Once a novelty, telematics is now becoming a burgeoning force in auto insurance, a new report from Novarica finds.
Telematics, a portmanteau of telecommunications and informatics, refers to a group of technologies that afford insurers driving information directly from the insured’s vehicle. The popularity of services such as GM’s OnStar and shifting public notions of privacy, may make more motorists warm to telematics-based insurance. Indeed, the report, authored by Novarica Senior Researcher Steven Kaye, notes that 75% of respondents to a recent survey indicated that they would be willing to share driving data with their insurer in exchange for lower premiums.
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