Driving the automobile insurance market through disruption
Telematics has enjoyed enormous buzz in the auto insurance marketplace in recent years, but many questions remain to be answered. Major insurance carriers are scrambling to better understand telematics and its potential implications for their business overall, as well as for the future of personal auto insurance, underwriting and product development.
Insurance executives can benefit from taking a step back and analyzing the very real and significant business issues surrounding deployment of telematics. In what ways is the disruption good for their companies, and what challenges does it raise? Which aspects of deploying telematics are inevitable, and which ones can possibly be controlled?
Telematics: Driving the automobile insurance market through disruption introduces important aspects of the disruptive potential of telematics and both the opportunities and potential competitive threats it represents. With a deeper understanding of costs and business models, privacy concerns, and regulatory considerations, insurance executives may be better positioned to leverage telematics, proactively and strategically, for competitive advantage.
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