As the telematics industry continues to evolve with rapid adoption within the auto industry, new and innovative partnerships are developing between auto manufacturers, insurers, telematics solution providers (TSP) and device OEMs, to take advantage of this data driven technology.
Though earliest adoption focused on usage-based insurance (UBI), today the benefits have expanded to include safety, fraud prevention, improved claims efficiency and enhanced service offerings.
In this whitepaper, we will explore the current state of the insurance industry’s adoption and implementation of telematics. Through a survey of senior managers and executives of US property casualty and multi-line insurers, we identify the barriers to implementation at all phases of adoption and the resulting benefits realized.
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