Perspectives on telematics — defined as the use of a telecommunications device in a vehicle to collect information about its activity — are shifting rapidly in the insurance industry. Previously, insurance carriers focused on the adoption of telematics for personal auto policyholders. Now, commercial auto insurers are seeing telematics as a prime opportunity to steady their business and protect their bottom line against unstable loss ratios and high severity. The slideshow above illustrates five of the top trends in telematics that commercial carriers should be aware of. Charles Smith is vice president of product at SambaSafety, responsible for global insurance, data and telematics products. SambaSafety and the National Alliance for Insurance Education & Research recently surveyed the industry about perspectives, trends and challenges faced by insurance carriers and brokers in embracing new technology. Follow this link to see the report titled "From Perception to Practice: An Insight into Insurer Data Strategies and Sentiments." See also:
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