Overcoming Speed Bumps on the Road to Telematics
Challenges and opportunities facing auto insurers
Early adopters of telematics are collecting data that can reveal a driver's behavior, which in turn can provide a basis for greater precision in insurance underwriting, pricing and claims. Having such first-hand driving data at their disposal could give existing usage-based insurance (UBI) carriers a considerable leg up over those not using telematics. Of course, early adopters still face many challenges in executing a viable telematics program.
In order to get a better idea of consumers' reactions to UBI, Deloitte surveyed more than 2,000 respondents about their experiences with consumer mobile technology. We have placed the respondents in three categories — Eager Beavers, Fence Sitters and Naysayers — based on their willingness to have their driving monitored by insurers.
This report provides data and analysis that may help guide carriers that have already started on the road to telematics, along with those poised to join in, as well as others that will have to compete with telematics-driven players. View the paper on Deloitte University Press.
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