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Big-data disruption gets real for car insurers as U.K.'s O2 expands

Telefonica SAs O2 unit one of the first mobile operators in Britain to offer car insurance expanded its product line in February to include telematics boxes, which track peoples driving habits.

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Telefonica SA’s O2 unit expanded its product line in February to include telematics boxes, which track people’s driving habits and can lead to cheaper premiums. (Photo: iStock)

(Bloomberg) – Auto insurance may be on the brink of an incursion from mobile-phone and technology companies.

Telefonica SA’s O2 unit — one of the first mobile operators in Britain to offer car insurance — expanded its product line in February to include telematics boxes, which track people’s driving habits and can lead to cheaper premiums for youngsters. That’s stoking speculation that a wave of FinTech companies will push into the market and disrupt the way insurers interact with customers.

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