Takeaways:
• How to adopt telematics into your technology solution.
• How it helps Targeted Marketing – The top quartile of scored drivers has a 3.3x greater lifetime value relative to the average.
• How you can create more accurate pricing – You can increase the segmentation of loss by 65%–80% with more accurate pricing and coverage.
• Ways to achieve a better claims experience – It’s estimated that telematics can decrease the average claims expense by $200.
• Where you can add Value-added services – Decrease pure premiums up to 30% on some segments by using driver risk data to motivate behavior change.
Veriday brings Enterprise-scale solutions for insurers. With our data-powered insights, you’re positioned to engage in targeted marketing to the least risky drivers, price them more accurately, and establish a continuous connection for added value. Our mobile and telematics platform benefits both you and your customers, with a trove of insurance data, analytics expertise, and scalable solutions that result in more accurate assessments of driver risk, creating opportunities for innovative products and pricing. Telematics sensors measure how, how much, when, and where a vehicle is operated — thereby providing significant opportunities and challenges for insurers in serving their customers.
This technology enables real-world data-based policies but also causes challenges related to privacy and accuracy for insurers. Customers have more flexibility to negotiate prices and products that fit their specific needs yet require discipline to achieve their goals. All of this adds new complexities to the insurer/customer dynamic.
Together with our business and technology experts, we will be discussing the best practices surrounding telematics and presenting a real-world case study of Octo Telematics with our partner Entando. We will be sharing insights that you could take and apply to your digital transformation program. Leverage our insurance solutions to better predict risk, improve loss ratio, and motivate behavior change. We’ve developed solutions that help insurers efficiently target their market, price more accurately, and motivate behavior change. Learn how a comprehensive telematics platform can pay off for your company.
