ence to their consumers, they are better
equipped to engage with drivers in their
moment of need. Using telematics data,
insurers can assess not only driving
performance, but also vehicle crashes
— one of the major reasons for communication between an insurer and driver
today. When an accident occurs, it takes
time and energy to compile and review
all of the incident details, assess damage
and provide cost estimates. In a time
when consumers expect exceptional
customer service and attention, streamlining the claims process gives insurers
the opportunity to quickly respond and
support their customers in a typically
Automated impact alerts ensure that
the insurer is aware the moment an accident occurs, so they can provide immediate assistance to the driver as needed.
After the accident, telematics data and
photos of damaged vehicles can be ana-
lyzed using artificial intelligence to help
reconstruct elements of a crash and send
that information to the insurer. When
drivers call their insurance companies
after an accident, the companies will al-
ready have the relevant details: time of
day, location, speed of impact, delta-v,
number of impacts, etc. Plus, building a
complete picture of the driver can help
companies communicate more regularly
and effectively with consumers, offer fair
and tailored rates, and when the worst oc-
curs — like a car crash — provide quick
and personal support.
Who will lead the
Several start-ups are basing their entire
model on offering a personalized experience to consumers, and it’s paying off.
But, it will take more than the young
companies to truly lead the shift to nex-
t-generation auto insurance. The indus-
try’s legacy players will have to step up,
adapt and flourish.
The shift will require overcoming a few
barriers, like incorporating telematics
data into actuarial scoring models and
integrating the technology with current
claims processes. But the overarching
benefits vastly outnumber the initial discomfort of implementing a new practice
in legacy processes, particularly as many
telematics offerings no longer require a
separate device. The time is now for the
auto insurance industry to get personalized. As a result, roads will be safer, drivers will be better, and insurers will retain
Katherine Wellman (CMT@corporateink.
com) is vice president of product at
Cambridge Mobile Telematics.
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