How Next-Gen Telematics and Vehicle Build Data are Driving Better Risk Assessment for Auto Insurers
Advanced Driver-Assistance Systems, commonly known as ADAS, brings together hardware and software for safety monitoring and feedback.
Eleven monitoring areas are the most consistently employed.
As devices become smarter and more sophisticated, the amount of information they provide is rising dramatically.
Telematics measures the driver, while ADAS focus on the vehicle.
Insurers are tailoring usage-based programs for segments such as teen drivers and other specific consumer types.
An estimated one third of vehicles will be connected by 2025.
Insurers have found that apps are a good starting point, but adoption may get easier as connected cars become more common.
Nearly every large auto carrier has some form of telematics program in effect.
Both captive and independent agents have opportunity to communicate the benefits of better driver risk monitoring.