Exploring the exciting opportunities and challenges of successfully establishing and managing a UBI framework
Having been in use for over a decade in commercial vehicles, the insurance sector is exploring the opportunities afforded by telematics technology. Currently, the number of insurance telematics policies in force in the European market reached 4.8 million in the last quarter of 2014 and it is growing at a compound annual growth rate of 42.4% per year. The total number of policies is expected to reach 28.1 million by 2019.
So, what is the telematics promise? Up until now – better pricing, more efficient claims handling, portfolio improvement, refined risk assessment and faster fraud depiction.
At this ‘Telematics for UBI’ conference we will be discussing and sharing perspectives on how to further increase the uptake of telematics-based motor insurance as well as examining the potential costs of remaining outside of the trend to telematics insurance services.