Insurance insight: Telematics

Telematics provides the basis for a paradigm shift for motor insurance. Not only does it offer the ability to move away from traditional segment-orientated models towards one based on individual driver behaviour, but by developing a comprehensive picture of how, where and when a vehicle is driven, a far more accurate calculation of risk can be achieved.

With this insight, insurers can tailor products at an individual level, leading to a better customer experience, improved satisfaction and significantly enhanced retention rates.

This two page article assesses the changing world, business challenges, strategic solutions and benefits of Telematics usage.