Telematics

The data and decision-making insights gathered from IoT devices have been revolutionary for insurers, and the potential of this technology is just starting to be realized.

Carriers can determine people-related risks by gauging how densely they are packed into spaces, how they’re behaving and moving and if building or space occupancy exceeds fire code guidelines.

Joe Wodark was recently named VP and GM of Verisk’s Internet of Things (IoT) and telematics business.

New company will offer Spanish-language telematics programs.

Both interested parties and actively using parties have increased in volume.

Newly combined company boasts more than 20 clients among the top 25 U.S. insurance companies.

Partnership allows connected-car owners to get Root usage-based insurance by using their car's data.

Usage-based insurance has finally come of age in the US insurance sector.

The Consumer Federation of America advises insurers to take certain steps to ensure policyholders who opt for usage-based insurance are protected.

Launched by former DriveFactor exec Steve McKay, company is tackling telematics-based insurance for commercial customers.

Given how driving patterns changed so significantly during the pandemic, there is an opportunity for carriers to further educate consumers about the benefits of telematics during the claims process.

Nearly one year after the onset of the pandemic, not only has interest remain elevated, but adoption has increased two-fold.

The FairMile program couples an on-board device with a mobile app.

General Motors, Ford, and Honda are already members of the exchange, which connects multiple automakers and other data partners with insurers.

MilesMyWay was in development pre-pandemic, but was prioritized as the carrier saw habits change.

New customers are signing up for the carrier's SafePilot UBI program at a 50% clip, and leadership says more focus on the currently-serving customer segment is in the future.

Drivers of Ford and Lincoln connected vehicles will be able to opt in to letting Arity score their driving data for UBI purposes.

Claims costs went up despite fewer miles driven, and other surprising results.

Also: news from insurtechs Buckle, Foxquilt, Smartcar, True Mileage

The benefit goes beyond compliance: It allows an organization to demonstrate that they are prioritizing the consumer's privacy expectations.