An SMA Research Report
- Author(s):
- Mark A. Breading, Partner
- Publication Date:
- June 23, 2016
- Number of Pages:
- 11
- Price:
- $995.00 USD
Telematics in P&C Insurance provides a snapshot of telematics/usage-based insurance programs in North America. Telematics for usage-based insurance continues to advance in North America, albeit at a measured pace. Some of the hype from a few years ago has been tempered by the reality of the regulatory environment, the need for actuaries to collect a historical base of data, and the adoption of programs by customers.
The report is based on an SMA survey of insurance executives and insights from working with insurers. The report, which covers P&C personal and commercial lines insurers in North America:
- Quantifies the state of UBI in North America, including the stages of planning and rollout.
- Identifies what data insurers are collecting, how that data is being used, and what future plans are contemplated for leveraging telematics data.
- Provides a call to action for insurers writing personal auto and/or commercial fleet insurance.
Figure 1 is an example diagram from the report, documenting how insurers are using the data they collect from telematics devices for pricing.
Table of Contents
- Executive Summary 3
- Telematics Usage and Data Plans 4
- State of the Market
- Use of Telematics Data for Pricing
- Use of Telematics Data for Safety Advice and Product Development
- Current Collection and Use of Telematics Data
- SMA Call to Action 8
- About Strategy Meets Action and the Authors 9
- Survey Demographics
- SMA Research Methodology and Report Usage
- About SMA