Telematics Car Insurance It goes under various names – black box insurance, pay as you drive, smartbox, GPS or UBI (Usage Based Insurance). It’s a new kind of vehicle insurance and the good news is that in som
Electric cars typically don't need specialized insurance. If you own a standard EV model, you can buy auto insurance from the same car insurance companies that write policies for other passenger vehicles. The process is the same, and your EV car insurance policy should include the sametypes of...
If you're not sure that Root is the best car insurance company for you, you might consider getting a quote from one of the following comparable companies: Root vs. Lemonade Lemonade could be a good option if you are looking for another car insurance provider that uses telematics data to ...
TelematicsFitness trackingInsuranceFairnessJustice failuresMarket failuresIn recent years, insurance companies have begun tracking their customers' behaviors and price premiums accordingly. Based on the Market-Failures Approach as well as the Justice-Failures Approach, I provide an ethical analysis of the ...
It is often a difficult task to obtain approval from regulators to use this data. Also, customers are becoming more aware of how companies are using their data and approve strict regulations. That is why laws such as General Data Protection Regulation (GDPR) and California Consumer Privacy Act...
Use Case: Geico’s Virtual Assistant, “Kate” Geico’s “Kate” is a virtual assistant that communicates with customers via text or voice, aiding in policy questions and coverage inquiries, available 24/7. More insurance companies are investing in technology like this, and chatbot capabilities ...
It’s common for insurance companies to use social media, and Erie is no exception. Erie has a Facebook page, LinkedIn account, Twitter feed (seen below), and a YouTube page. It’s great that they make themselves accessible with quick blurbs containing the Erie claims phone number for cla...
The results are not driven by potential reverse causality and remain unchanged when we employ an instrumental variables approach and use an alternative supply-side InsurTech index. We further explore the underlying mechanisms and find that, instead of competing directly with insurance companies, Fintech...
Insurance companies need to guarantee that they are clear about how they use customer data and that customers understand them. Insurance companies need to confirm that customer data is protected and sheltered from potential cyber threats, which is not done by most insurance companies and causes ...
In Kenya, telematics insurance is still a new concept to many. However, a few companies are adopting it to monitor driver behaviour, assess individual risk and determine what they pay for premiums. “The innovative technology connects a driver's smartphone to an in-vehicle telematics devic...