Insurance carriers are constantly looking for better ways tofight fraud.
As technologies become more advanced, new options are appearingon the market. Telematics and usage-based insurance are generatinga lot of interest, with the telematics market forecast to show a50% compound annual growth rate by 2020.
But could fraudsters (people knowingly committing acrime) be exposing a flaw in how carriers collect data to determine fraud?What is the likelihood that fraudsters will sign up for “pay as youdrive” insurance models? And, can insurance carriers afford to waitfor lengthy telematics installations and data collected over aperiod of time to properly quote and renew policies?
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