The untapped potential of telematics in auto claims
June 12, 2018 by Greg MeckbachTelematics, which records data on vehicle behaviour, is used now mainly for underwriting, but the technology can also provide a treasure trove of information for claims adjusters, one vendor suggests. Auto insurance claims adjusters could potentially use telematics to determine…
How telematics affected this insurer’s loss ratio
June 10, 2018 by Greg MeckbachCould Canadian insurers cut auto claims costs by 15% by using telematics? Perhaps, if they could somehow import the experience of European insurers. An unnamed European insurer compared its auto insurance customers who were using telematics with its customers who…
Broker training underway for new distance-based auto insurance
May 23, 2018 by Greg MeckbachBrokers selling auto insurance written by the CAA Insurance are now getting trained on a new product targeting low-mileage drivers. All 41 of CAA Insurance’s broker partners “are being trained on all aspects” of MyPace, CAA Insurance president Matthew Turack…
‘Lots of people don’t like telematics,’ insurer reports
December 14, 2017 Greg Meckbach, Associate EditorOpportunities for “broker-driven” usage-based auto insurance are likely to be down the road, but brokers are telling a large Canadian mutual that their insurance customers don’t want their insurers monitoring how they use their vehicles. “Our brokers are advising us…
Octo completes acquisition of Willis Towers Watson’s UBI assets
December 11, 2017 David Gambrill, Editor-in-ChiefOcto Telematics, a global provider of telematics for the auto insurance industry, has completed its acquisition of the usage-based insurance (UBI) assets of Willis Towers Watson. Octo’s acquisition includes Willis Towers Watson’s DriveAbility solution and the DriveAbility Marketplace. Geoff Werner…