Executive Summary
Connected insurance using telematics data and usage-based insurance (UBI) have grown substantially over the last few years. The technology choices for implementing insurance telematics programs have become more diverse.
Techniques for collecting, consolidating, and analyzing data to assess driver behavior continue to be refined. as the technologies keep evolving. With so many available technology choices, one question is frequently asked by insurers:
What data collection option best suits the programs we want to offer drivers?
Download this asset to understand the strengths and trade-offs of leading UBI data collection sensors:
– Smartphone
-Bluetooth tag/beacon
– OBD devices
– Professionally installed black box
– OEM embedded devices
A knowledgeable telematics service provider (TSP) can explain the sensor options that will meet your insurance program requirements. The best TSPs should support a full range of sensorsm, without trying to lock you into only one data collection method.
Differing technologies meet the needs of differing risk profiles and consumer segments for their business. After all, connected insurance is not a one-size-fits-all approach.
We’ve crafted this piece based on field research performed by IMS through pilot programs and actual deployments with customers. As well as surveys and research conducted by partnering organizations in the telematics industry.
