Jumat, 05 Juli 2019
Twenty years ago, insurance companies could not predict today's landscape. The growth of the Internet, the use of electric motors and the ubiquity of information have become a reality. How will automotive insurance and technology change in the future?
The Rise of Telematics
Anyone using telematics or an Internet connection adds drivers that are hidden in the background. Bad driving habits are tracked and reported, sometimes leading to higher charges. Safe driving practice can result in lower prices. Insurance companies are always hoping to test more drivers, brakes and speed.
The point of telematics is that car insurance is no longer fixed, but separate expense. Insurance is more transparent at the cost of the insurance company. Consumer-based insurance (UBI) means driving practice becomes a straightforward policy. Other benefits include faster response times, faster stolen vehicle tracking and recovery in the event of an accident.
However, not all of them are installed! Some drivers regard telematics as a data breach. The implementation and monitoring of UBI by insurance companies can be expensive. Read an article on written telematics for Safeco.
UBI, however, is growing rapidly. According to SMA Research, around 70% of automotive insurers will rely on telematics by 2020. From 2017, over 30% of state and commercial vehicles are already equipped. Commercial acceptance is high, as it is not only required for Uber and Lyft cyclists. Truck drivers, fleet managers and sales professionals must install telematics in their cars.
According to the insurance industry: "As soon as the acceptance exceeds 50%, there will be a turning point when the use of telematics will become completely normal. Companies that do not use this technology will do so and will be very retarded.
Current discounts for drivers using telematics are 5-15%. It's for a good driver. Poor drivers may find that spending has increased by 10%
Opponents who do not accept telematics can be fined in the future. Or it can be a qualification requirement, e.g. For example, how a credit rating was required when applying for insurance.
In addition to insurance companies, car manufacturers can also install and order telematics systems when they buy a new car. Despite its small size since 2018, Tesla Motors has already built the Model S with advanced motion sensors and cartography. The electric car company even offered to sell car insurance directly to car owners. Recently, I wrote about model 3 and how to increase premiums before they become accessible.
Startup Disruptions
New start-ups are push-forward industry. A classic example: lemon water. The co-founders Daniel Schreiber and Shai Wininger said they built their business model around the economic and intellectual property. Employing dispute, conflict, document and file dual focus.
How Lemonade is to reduce commissions from payments of monthly customer, pay insurance, other costs, and use the rest of the money to settle claims. The rest will not be given for the purpose chosen by the customer. The insurer works for the same purpose are encountering age groups, to jointly fund their group needs. "As such, our customers enjoy insurance coverage and the company doing well, and unlike traditional insurance companies, not getting any disputes," states the website Lemonade. It hurts customers so quickly and easily. "
This new model is especially appealing to millions of interested companies to work for the benefit of society. In fact, 87% of those policymakers of Lemonade are buying insurance for the first time. The problem with this model is that people interested, for example, people of middle class, have power of attorney. The Market Capitalization of the Millennial Lemonade Money causing further losses. Do not know if this saves time and saves money for drivers.
The Rise of Telematics
Anyone using telematics or an Internet connection adds drivers that are hidden in the background. Bad driving habits are tracked and reported, sometimes leading to higher charges. Safe driving practice can result in lower prices. Insurance companies are always hoping to test more drivers, brakes and speed.
The point of telematics is that car insurance is no longer fixed, but separate expense. Insurance is more transparent at the cost of the insurance company. Consumer-based insurance (UBI) means driving practice becomes a straightforward policy. Other benefits include faster response times, faster stolen vehicle tracking and recovery in the event of an accident.
However, not all of them are installed! Some drivers regard telematics as a data breach. The implementation and monitoring of UBI by insurance companies can be expensive. Read an article on written telematics for Safeco.
UBI, however, is growing rapidly. According to SMA Research, around 70% of automotive insurers will rely on telematics by 2020. From 2017, over 30% of state and commercial vehicles are already equipped. Commercial acceptance is high, as it is not only required for Uber and Lyft cyclists. Truck drivers, fleet managers and sales professionals must install telematics in their cars.
According to the insurance industry: "As soon as the acceptance exceeds 50%, there will be a turning point when the use of telematics will become completely normal. Companies that do not use this technology will do so and will be very retarded.
Current discounts for drivers using telematics are 5-15%. It's for a good driver. Poor drivers may find that spending has increased by 10%
Opponents who do not accept telematics can be fined in the future. Or it can be a qualification requirement, e.g. For example, how a credit rating was required when applying for insurance.
In addition to insurance companies, car manufacturers can also install and order telematics systems when they buy a new car. Despite its small size since 2018, Tesla Motors has already built the Model S with advanced motion sensors and cartography. The electric car company even offered to sell car insurance directly to car owners. Recently, I wrote about model 3 and how to increase premiums before they become accessible.
Startup Disruptions
New start-ups are push-forward industry. A classic example: lemon water. The co-founders Daniel Schreiber and Shai Wininger said they built their business model around the economic and intellectual property. Employing dispute, conflict, document and file dual focus.
How Lemonade is to reduce commissions from payments of monthly customer, pay insurance, other costs, and use the rest of the money to settle claims. The rest will not be given for the purpose chosen by the customer. The insurer works for the same purpose are encountering age groups, to jointly fund their group needs. "As such, our customers enjoy insurance coverage and the company doing well, and unlike traditional insurance companies, not getting any disputes," states the website Lemonade. It hurts customers so quickly and easily. "
This new model is especially appealing to millions of interested companies to work for the benefit of society. In fact, 87% of those policymakers of Lemonade are buying insurance for the first time. The problem with this model is that people interested, for example, people of middle class, have power of attorney. The Market Capitalization of the Millennial Lemonade Money causing further losses. Do not know if this saves time and saves money for drivers.