Your say: Insurers must keep telematics pace

Business man using smartphone as part of bring your own device trend

Following the implementation of the European Court of Justice ruling in December preventing insurers from using gender as a proxy on which to price insurance premiums, it comes as no surprise that the number of telematics based policies available is on the rise.

However, for any telematics-based policy to work effectively, driver behaviour must be measured accurately and, therefore, the data collection mechanism has to be both robust and reliable.

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Lack of trust in telematics hampering potential

After a survey found only 8% of respondents had received any communication from insurers about adopting telematics-based insurance to help reduce premiums, Fairer Finance’s James Daley said “telematics still doesn’t seem to be fulfilling its potential”.

Q&A: Simon Axon, Teradata

Simon Axon, global financial services industry director at Teradata, explains how general insurance providers are lagging behind banks in making the most of their data and why Amazon’s style of operating should inspire boards to back investment in digital transformation.

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