The Unseen Passenger: How Telematics Data Is Reshaping Private Passenger Auto Insurance
Insurers have spent decades attempting to assess drivers' likely behavior. Nothing tells that story like the data generated by telematic devices.
California's enhanced privacy legislation, which took effect in 2020, requires that those who collect data, such as telematics providers, to make that data available to the person being monitored.
Customers will share their data, but only if insurers are clear about how it will be used and how its use will add value to the customer.
Insurers interested in tapping into telematics technology can benefit from more sophisticated hardware, speedier communications technology and the widespread use of cloud storage.
As auto manufacturers build more sophisticated safety devices into their cars, telematics providers will need to access to determine that they are present and operating.
