In a transportation economy shifting from people-operated vehicles to autonomous vehicles, insurance will similarly shift from being people-focused to vehicle-focused. In that world, data will be more critical than ever. This shift will cause the current data models insurers use to become fundamentally insufficient for risk pricing. Driver, vehicle, and activity data, collected through telematics, will all be needed to compete in the near future.
Insurers must develop expertise with telematics data now to survive and thrive in vehicle insurance as the landscape transforms.
Strategy Meets Action has released a white paper entitled The Future of Vehicle Insurance: The Foundational Role of Telematics to address the changing insurance landscape. This white paper explores:
- Why insurers need to develop expertise with telematics data today
- Which domains of telematics data will be critical for insurers to collect and understand
- The critical technological capabilities required for effective use of telematics
This white paper is ideal for mid- to senior-level insurance carrier executives involved in strategic planning or product design in auto insurance.