Enticing consumers to take the plunge and allow their driving performance to be monitored via telematics is only half the battle for carriers transitioning to a usage-based auto insurance program.
The other half is retaining those accounts by convincing customers not only that telematics could result in lower premiums, but that it can also pave the road to deliver a new set of value-added services.
Indeed, while the potential for a discounted premium may be important to achieve initial consumer adoption, telematics can be leveraged to create a much deeper level of engagement as usage-based insurance (UBI) moves beyond its nascent stage, resulting in a more beneficial customer experience.
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