Motor insurers heading toward telematic services

Magazine Issue:

Loss of rationality [3]

Magazine date:

Jul 2017

The recourse to telematics in the motor insurance business is now booming. According to a survey conducted by Ptolemus Consulting Group, nearly 50% of the global motor fleet will by 2030 be insured from data produced by telematics.

Having appeared in early 2000s, this technology makes it possible to record some driving parameters such as speed, braking, number of days during which the vehicle has been in use… Analysis of this data yields better risk pricing. The information gathered may also speed up the process of claim report.

Octo Telematics, a pioneer in this area of expertise, today accounts for five million vehicles connected to its platform, a figure that has grown by 25% in a single year.