Insurance News: Driving telematics beyond the pricing lane

Headlines about inflation and the cost of living are rising. Such discussions often include higher car insurance rates and the potential savings to be found in pay-as-you-go policies, but car telematics data can affect not only prices, but cost.

Joining Abby Compton and myself in this analysis of insurance news is David Morse, Director of Accounts at Cambridge Mobile Telematics. We discuss how insurers are using telematics data across the entire value chain, from more accurate risk profiling to faster claims resolution.

While we usually see usage and behavior based offers, as customers are acquired, they start to move more as they renew. Continuous monitoring informs the client about risk reduction and management strategies. It also has social benefits in helping to reduce distracted driving, which David calls “a pandemic in itself.”