Inflation and financial headlines are on the rise. Such discussions often include an increase in car insurance rates and potential savings in payment plans as you drive, but the data from car telematics can drive costs more than prices.
In this Insurance News Analysis, Abbey Compton and I are joined by David Morse, Chief Customer Officer at Cambridge Mobile Telematics. We discuss how insurers are using telematics data for value from more accurate risk profiles to faster claims resolution.
While we often see applications and systems in terms of customer experience, this is starting to get a bigger push in innovation. Continuous monitoring brings the client into the process of risk reduction and management. It also has a benefit to society by helping to reduce distracted driving, which David calls “the epidemic of addiction.”
Power the future of insurance: Technological changes, such as AI and cloud-based data analytics, are helping insurers deliver profitable growth through revenue growth and cost reduction.
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