Telematics initiatives are at the forefront of many insurers’ digital strategies, yet time-and-again we hear that insurers struggle to realize the promised benefits. Our experience suggests this is likely due to the complex and data-intensive process required to build a model using telematics data that provides significant lift to predictiveness over traditional scoring methods.
Our new white paper, The Analytics Behind the Perfect Risk Score and Predictive Model, explores the importance of utilizing telematics for auto insurance risk scoring and provides a real-world example of the improvement carriers can expect from utilizing a predictive model like DriveAbility for scoring. Read this paper to find out:
• What factors characterize a good telematics-based risk score
• The importance of structuring telematics data correctly
• Why non-telematics data continues to be critical for scoring, and
• How insurers can utilize scoring to realize additional value beyond pricing