Usage-based technology to help motor insurers
Tuesday, 11 01 2016, Category: Technology, Country: World
Usage-based insurance (UBI) will help motor insurers to reduce expenses by facilitating claims processes and combating fraud. Moreover, the technology will allow for the addition of services to the insurance product and enable higher premiums, said Pravar Gautam, vice president Asia & EMEA at Scope Technologies.
Insurance carriers are increasingly deploying items such as telematics that track the driving behaviour of insureds, which allow for more tailored products based on the principles of “pay as you drive” or “pay how you drive” as well as “mile-based auto insurance”.
Source: Intelligent Insurer