An American auto insurer has partnered directly with a car manufacturer to get access to driver data and provide insurance coverage based on that information — and one Canadian expert thinks it’s a viable idea that could gain traction here.…
If regulators continue to prohibit auto insurers from imposing surcharges when they detect risky driving behaviour through telematics, it will be difficult for usage-based insurance to be commercially viable, an Aviva Canada data science expert suggests. “Telematics is a good…
Auto clients who think they are paying too much should consider telematics, the co-founder of LowestRates.ca suggests. With telematics, or usage-based insurance, the client normally installs an app on their smart phone or hardware into their vehicle diagnostic port, the…
Canada’s largest property and casualty carrier observed a 50% drop after the middle of March in the distance driven by its auto clients, but the insurer’s usage-based telematics data suggest driving has started to pick up in recent weeks at…
Intact Insurance is making some key changes to its usage-based insurance (UBI) product for motorists in Nova Scotia. Essentially, the company is requiring continual monitoring of an insured’s driving behaviour rather than having the same discount apply until the end…
Collision claims are approaching “a new era” of data collection, intensifying the debate between the insurance industry and vehicle manufacturers over who owns the data. Thanks to the advent of connected vehicles, data generated in these cars provide valuable information…
When it comes to the most dangerous form of aggressive driving, speed stands above the rest as most likely to cause a crash. Research from the University of Waterloo has found that speeding is more likely than hard braking, hard…
Pembridge Insurance Company is asking brokers in four provinces to tell auto clients how much they could save by using a usage-based insurance app. Some motorists do not want usage-based insurance, Bob Tisdale, president of Pembridge, said Friday in an…
Canada’s largest property and casualty insurer is checking to see whether some of its auto insurance clients are using their phone while driving. If your auto client is insured by Intact under its My Driving Discount program, Intact can detect…
The use of telematics in pricing auto insurance is going to become more “prevalent,” and a major property and casualty insurer is trying to use the technology to get a better idea of driver risk, speakers said during a recent…
Hard numbers showing the impact of telematics remain elusive, but Canada’s largest property and casualty insurer says the technology does separate the good risks from the bad. Telematics is a vehicle diagnosis technology that collects data such as distance travelled,…
Usage-based insurance has raised the profile of insurers on consumers’ electronic devices, and this could be bad news for some brokers. Several auto insurers are using UBI to offer discounts based on data gather from telematics. That technology lets insurers…