telematics

When Telematics and Autonomy Cause Premiums to Nosedive

When Telematics and Autonomy Cause Premiums to Nosedive

First there was UBI, promising to drop auto insurance premiums by 10-15 percent.

Then came driverless cars to drop them again, this time by as much as 40 percent.

UBI has been around for some years now; driverless cars, not so much. They’re only now poised on the verge of the market. Yet both innovations represent a blow to insurance premiums, and here in that fleeting moment between the old one-two, it’s fair to wonder how the industry is going to respond.

Insights from Insurance Telematics USA

Insights from Insurance Telematics USA

The insurance telematics industry is moving fast. This was quite apparent at Insurance Telematics USA in Chicago earlier this month. Just one year ago, the main topic debated was whether insurers should use smartphone apps or OBD hardware to track drivers’ behavior. This year, that question was no longer a question. The industry has moved forward with smartphone telematics adoption.