Integrating connected cars into insurance supply chains

“Carriers want to see the proof, and what we are seeing from the market is they are finding value in the improved predictiveness of this data,” said John Chalfant, of LexisNexis Risk Solutions. (Credit: metamorworks/Shutterstock.com)

Consumers are showing more interest in auto insurance rates based on their actual driving behaviors, and some insurers have been answering these calls, but as technology advances both inside and outside of vehicles, more companies are expected to leverage advanced telematics.

The improving efficacy of data is leading to a shift from companies and carriers that have historically been leaders in telematics to a wider pool of users across the insurance industry, according to John Chalfant, senior product manager of the U.S. connected car team at LexisNexis Risk Solutions. He notes that as telematics solutions become more accessible, the more they will be embraced across the industry’s supply chain.