I was discussing telematics and other forms of “big data” with Peter Marotta, enterprise data administrator for Verisk Analytics, at the Insurance Accounting & Systems Association’s (IASA) annual conference June 3-6 in San Diego, when he pointed out an unusual position that the insurance industry is in today.
“The technology [around telematics] is well ahead of its utilization,” said Marotta.
In most cases insurers end up waiting for technology to catch up to the needs of the industry, but that’s not the case with telematics.
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