Telematics

2023 DriverScape Summary: Auto Consumer Attitude Towards UBI

May 4, 2023 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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Personal Auto Insurance is experiencing an unprecedented transformation driven by increasing improvements in telematics. One area leading the transformation is Usage-based Insurance (UBI). While this technology has existed for more than 10 years, it is finally being accepted and adopted by insurance carriers and drivers alike in significant numbers. Fueled by the evolution of telematics, risk models, and pricing; UBI is experiencing quicker-than-anticipated growth. Carriers are presented with new opportunities and challenges unlike any ever before in this new world of technology-driven innovation.

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Introducing Ownli: An Alternative to Traditional Telematics

Feb 14, 2023 / by Team Ownli posted in Telematics, Auto, Ownli

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Is Telematics a Catch-All Solution? Not Quite.

Gaining a better understanding of how people actually drive (mileage, braking, speeding, etc.) has been a primary goal of many Auto Insurers for years. Having better data allows Auto Insurers to make more personalized policies, price premiums more effectively, and be more competitive in a crowded landscape.

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Is UBI Moving Full Speed Ahead? AAIS Report Snapshots Consumer Attitudes

May 20, 2022 / by Ash Naik posted in Issues & Trends, Telematics, Auto, Commercial Auto, Personal Auto, AAIS Views, auto insurance, UBI, Usage Based Insurance

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While the telematics capabilities that enable auto insurers to track mileage and driving behaviors continue to advance, Usage-Based Insurance (UBI) has  potentially been slow to gain traction among consumers. In keeping with our mission of working with Members to design the best possible insurance products, AAIS recently went direct to consumers to understand the reservations that may be stalling adoption of UBI products and strategies to overcome these obstacles.

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Crawford CEO Provides Market Report

May 2, 2022 / by AAIS posted in Insights, Technology, Insurance, Data & Technology, COVID-19, Telematics, Climate Change, Auto, Innovation, AAIS Pulse, pandemic, Economy, auto insurance, NatCats

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On a recent edition of AAIS Pulse, Crawford & Company CEO Rohit Verma and AAIS VP of Products John Kadous sat down to discuss the state of the insurance market, including topics such as the economy and supply chain, auto risks, climate change and natural catastrophes, data, and technology, and much more.

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Open Source Benefits are Coming to Insurance

Dec 6, 2021 / by Joan Zerkovich posted in openIDL, Machine Learning/AI, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Robotics/Drones, Open Source, Tech News, IoT, Telematics, Auto, Modeling/Predictive Analytics, AAIS News & Views, AAIS Insights, Data/Tech, Linux Foundation

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In 2002, Amazon eliminated millions of dollars from its technology costs by switching to the Linux operating system, an open source technology platform from the Linux Foundation. In a filing with the Securities and Exchange Commission, Amazon stated it was able to cut technology expenses by about 25%, from $71 million to $54 million, primarily through “migration to a Linux-based technology platform that utilizes a less-costly technology infrastructure, as well as general price reductions for data and telecommunication services due to market overcapacity[1]. Amazon continues its open source technology strategy today, as do thousands of other companies. Today, 96.3% of the world's top one million servers run on Linux[2].

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Keeping Pace with the Evolving Auto Industry

Nov 2, 2021 / by Ash Naik posted in Community, Technology, Issues & Trends, Data & Technology, Tech News, Telematics, P&C Insurers, Auto, Commercial Auto, AAIS News & Views, AAIS Insights, Personal Auto, Data/Tech, Insurance Line of Business

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A Fast-Moving Auto Industry Presents Challenges and Opportunities

The automotive industry transformation continues to have significant repercussions in the insurance industry. With improving sophistication in car technology, telematics, and consumer behaviors, insurance carriers face new and unprecedented challenges spanning the entire lifecycle of the policy from research to claims. Still, personal and commercial auto insurance remain the industry bellwether as the largest product lines accounting for more than $300 billion in annual premiums.

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COVID-19 Massive Industry Impact and Emerging Trends...An Analyst Perspective

Jul 9, 2020 / by AAIS posted in Community, Issues & Trends, Events, Insurance News/Current Events, AAIS Event Archive, COVID-19, Regulatory/Compliance, Telematics, P&C Insurers, Industry, 2020 VME, VJDowling, reinsurance, AAIS Views, hurricanes, NatCats

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Recently, Dowling and Partners’ Gary Ransom spoke to AAIS CEO and President Ed Kelly during the Virtual Main Event, discussing how COVID-19 will touch nearly every aspect of the insurance ecosystem. The impact is pervasive. In fact, according to Mr. Ransom, the COVID-19 pandemic is on track to become the largest insurance event in history, according to one industry expert.

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The Open Road to Real Change in the Insurance Industry

Jul 9, 2020 / by AAIS posted in openIDL, Community, Technology, Data & Technology, Events, AAIS Event Archive, Open Source, Tech News, Insurtech, Telematics, Auto, Blockchain, Latest News, Agile, Data/Tech, Insurance Services/TPAs, 2020 VME, IBM, Linux Foundation, Hyperledger, AAIS Views

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IBM, who has partnered with AAIS on the development of the openIDL data-management platform on blockchain, has long been a strong proponent of open-source software development. Chris Ferris, an IBM Fellow and CTO for Open Technology at IBM, spoke to AAIS’s Joan Zerkovich on the importance of the open-source concept and the powerful outcomes IBM has seen from building technology in an open environment.

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A Data-Driven Future: 2020 Auto Trends

Jun 16, 2020 / by Casey Brewer posted in Issues & Trends, Data & Technology, Insurtech, Telematics, P&C Insurers, Auto, Commercial Auto, Data/Tech, Data Management, 2020 VME, TNEDICCA, AAIS Views

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The auto industry is fueling up for new technology down the road. Fully autonomous vehicles and advanced crash-data analysis will all impact not only how the industry operates, but how it is insured as well.

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Safe at Home, Safe Online: Smart Homes, Sensors, and IoT

Jun 15, 2020 / by Linda Jancik posted in Personal Lines, Community, Technology, Issues & Trends, Data & Technology, IoT, Homeowners, Telematics, Cyber, P&C Insurers, Security, Data Management, 2020 VME, AAIS Views, NatCats, CFM Insurance, Roost, Neos

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Advancements in technology have brought great strength to home security systems, transforming what we once considered an average house into a modern smart home.

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Unleashing Product Potential...Together

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