telematics News

Driver Privacy at Risk when Telematics Data Stored in the Cloud: Researchers

Drivers’ private information can be compromised when stored in the cloud for usage-based insurance (UBI) programs, according to researchers. Using connected-device, or telematics, functions in vehicles, UBI programs determine a consumer’s or fleet’s insurance premium rate by considering several driving …

AIG Seeks Best Drivers in Singapore with New Smartphone App

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched a nationwide search to find Singapore’s best drivers with “AIG On the Go,” a telematics-based smartphone application. “AIG On the Go” scores drivers’ performance every time they get behind the …

Self-Driving Cars to Transform Motor Insurance in Liability Shift: Fitch

Widespread use of autonomous vehicles will completely transform the motor insurance sector over the long term when liability begins to shift towards manufacturers and traditional risk pools shrink, according to a report published by Fitch Ratings. “The question of who …

UK Auto Insurers Face Disruption from Mobile Phone & Tech Companies

Auto insurance may be on the brink of an incursion from mobile-phone and technology companies. Telefonica SA’s O2 unit — one of the first mobile operators in Britain to offer car insurance — expanded its product line in February to …

Investments in Insurtech Expected to ‘Keep Booming’ in 2017: KPMG Report

Investor interest in insurtech is expected “to remain hot across all regions of the world” during 2017, following strong growth in 2016, according to a report published by KPMG. In the coming year, most insurtech investments likely will focus on …

Re/Insurers Can Help Bridge Protection Gap with Technology: GA Report

Digital technologies can be harnessed by the re/insurance industry to narrow insurance protection gaps in developing and emerging markets, thereby improving societal resilience after natural disasters, according to a report published by the Geneva Association. However, the protection gap problem …

Telematics-Based Car Policies in UK Exceed 750,000 for 1st Time in 2016

The number of live telematics policies in the UK exceeded three quarters of a million for the first time in 2016, according to annual research from the British Insurance Brokers’ Association (BIBA). The BIBA survey includes information from the leading …

Insurtech to Become Part of Traditional Insurance Landscape: S&P Report

Insurtech has a complementary place in the traditional insurance world, despite remaining uncertainty in the industry about how it will function on a wide scale, Standard & Poor’s said in a new report. “We do not expect traditional insurance business …

XL Catlin Appoints Branch as Chief Executive of Insurtech Team, Accelerate

XL Catlin announced the appointment of Vincent Branch as Chief Executive for Accelerate, its new expert team focused on innovation and insurtech. Accelerate is led by XL Catlin’s former chief underwriting officer for Insurance, Paul Brand. Branch joins XL Catlin …

Who Pays When Driverless Cars Crash? UK Insurers Call for Int’l Standards

Cars of the future will need to collect a basic set of core data to prevent drivers being unfairly blamed if technology goes wrong, according to the Association of British Insurers (ABI). The ABI supports the formation of an standard …