Attention subscribers
- we have launched a new website! Click here to create your website account for continued access.
Insureds seeking more personalized pricing and added value services are becoming increasingly open to telematics technology in auto insurance. Eighty-two percent of policyholders view telematics apps positively, according to a survey from insurance think tank IoT Insurance Observatory and mobility data and analytics company Arity.
Demand for innovative pricing is up, with 60% of respondents open to switching from traditional auto insurance to usage-based insurance. More than half of respondents (52%) were willing to share driving scores to receive personal pricing.
The shift in thinking presents opportunities for insurers to innovate and deepen customer engagement through data-driven strategies.
Survey respondents’ most requested services from telematics apps were rewards for safe driving (45%), emergency assistance such as crash detection (43%) and antitheft features (37%), according to the survey.
