Last month, I attended Connected Car Insurance USA 2017 in Chicago with myOcto Telematics team. The show is always a sell-out event, and forgood reason: It is the largest and most informative forum forexecutives from across the connected car and auto insuranceindustries.

There was plenty of lively discussion about the future ofinsurance and the impact of the Internet of Things (Iot) on thedecisions insurers make today. Technology is the driving force inthe evolution of insurance, and the future livelihood of insuranceagencies. While existing tech is still valid for the marketsector — take, for example, using OBD 2 adapters toremotely monitor driving behavior and car diagnostics —and is still used for specific projects or risk segments, themarket is evolving to a new stage. Considering the mass market andpenetration of smartphones, a new wave of insurers are using smartphones for usage-based insurance (UBI) — in somecases, the addition of sensors with higher quality, reliable datais also driving interest. For example, we saw a lot of interest inour recent launch of Glimpse Plus because it is a hybrid solution withsmaller, cheaper sensors yet more reliable, high quality data thansmartphone-only solutions.

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