DriveWay – A Safety first approach to personalized motor premiums and smartphone telematics
Personalized premiums are an industry prediction that has become a pretty safe bet! Big data, cloud, mobile, wearable’s, Internet of Things are all highly used buzzwords for the technologies that are changing the way insurance is calculated and distributed.
And one of the biggest areas of massive growth that is going to impact motor insurance is the adoption of telematics. Nora and Alain Minc first used the word in a 1978 report to the French Government but today, it is synonymous with the collection of data that defines and determines a driver’s risk profile behind the wheel for an insurer.
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