Usage based insurance and telematics are the future of insurance. People will make billions of dollars using these technologies. Even more important, people will save good policyholders like you and I billions of dollars. These people are changing our world.
Check out this article from Insurance Thought Leadership:
Although I am not going to list the 8 opportunities, I will share my notes and rough quotes regarding how telemetrics will revolutionize automobile insurance claims:
- Improve customer experience
- Accident assistance e.g. instant crash notification
- Breakdown assistance
- Instantly notify the location of the vehicle and direct the nearest recovery team to the vehicle
- Theft alarm activated and customer notified
- Vehicle recovery information provided to police
- Reduce losses
- Nature, type and extent of damage
- Early indication of bodily injury
- Reduced fraud
- Avoid delay and increase accuracy of case estimation
I am sure your mind is racing on how telemetrics will revolutionize your industry, or your line of insurance. You’re not alone. In another article, I explore how telemetrics could change homeowners insurance.
You don’t have to become a telemetrics expert for this article to help you. Just use it to see how smart people are thinking about insurance. As James Altucher says, “Ideas are the currency of the 21st century.” Ideas like usage-based insurance can be found all around us. This is a technology in its early stages. Exercise your brain and figure out how telemetrics or the concept of a usage-based product can change your industry.
At CaseGlide, our goal is to solve insurance companies’ biggest problems. If we can solve a $10M problem, we know we will have abundant lives and businesses.
Our approach to solving big problems is simple. Link the smartest claims people with the smartest technology people. Do you want to become a part of this equation?