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Compass pointing toward the word trend. Data, technology, usage-based coverage and new roles for claims professionals are four areas to watch. (Photo: Shutterstock)

Insurers are constantly looking for new ways to utilize cutting-edge telematics. Whereas current technology used to be a novel but not a widely-used way to analyze risk, measure usage or trigger claims filing, telematics has since become a standard offering from many of the largest players across the insurance industry.

According to a report by McKinsey, the global revenue pool from car data monetization could be as large as $750 billion by 2030.

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