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The growing pressure on auto insurers to support improved driver safety and to bring claims inflation and prices under control will make technology increasingly central to competitiveness, according to global professional services company Towers Watson.

“Already, the recent expansion in companies offering usage-based insurance (UBI) policies, based on in-car telematics devices, is putting those companies without a UBI proposition at risk of eventually being left with the ‘bad’ risks, particularly among younger drivers,” says Tony Lovick, director of analytics for Towers Watson’s DriveAbility UBI program.

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