Telematics in Insurance?
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Mayank Goyal
Do you think that Telematics will change the face of Motor Insurance? Let’s have a real discussion! I think the technology changes and as soon as company goes for it, it’ll be more than common to price the product on its behaviour. Currently the behaviour distributes evenly between instead Good or bad risk, I’d call it good riders and bad riders!
What do you think of it? We are listening..
sohamw97
Mayank wrote:Do you think that Telematics will change the face of Motor Insurance? Let’s have a real discussion!
I think the technology changes and as soon as company goes for it, it’ll be more than common to price the product on its behaviour. Currently the behaviour distributes evenly between instead Good or bad risk, I’d call it good riders and bad riders!
What do you think of it? We are listening..
I think it will most definitely change motor insurance. In fact,one of the main applications of telematics is in motor insurance pricing. Imagine having real time data of the driver, we will be able to price the policy more accurately. The only limitation that I can think of is if there are multiple drivers for a single vehicle, we might not be able to get accurate data.
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