Insurance – AutoFacets Insights

The future of auto insurance

afadmin — Tue, 02 Jan 2018 15:20:07 +0000

Driverless vehicles will be a reality in our digital lives, and the car insurance industry of the future will need to meet the challenge of this radical change Motor insurance stands on the cusp of momentous change. It is no exaggeration to say that by the end of the next decade it will be a

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Vodafone IoT division wins telematics deal with UK car insurer

afadmin — Tue, 05 Dec 2017 14:24:57 +0000

Vodafone is providing telematics technology to support a usage-based insurance offering from UK company Admiral. The deal sees Vodafone supply hardware, connectivity, data management, crash analysis and safety-related services for the insurer’s LittleBox solution. Vodafone has won the deal from Octo Telematics, European Communications understands. The LittleBox service, which launched in 2013, offers drivers discounted

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The Future Of Car Insurance: Digital, Predictive And Usage-Based

afadmin — Mon, 04 Dec 2017 11:17:38 +0000

Imagine shopping for your next car insurance and the car company offers an insurance that connects a black box, dongle or a mobile phone app, which tracks how you drive, and saves you up to 30 percent on premiums. This, in essence, is the future of connected car insurance, also called usage-based car insurance (UBI), whereby

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The data do not lie: Using machine learning to fight insurance fraud

afadmin — Fri, 18 Aug 2017 09:28:48 +0000

One of the biggest challenges facing any insurance provider is the very real risk of insurance fraud. In 2014, UK insurers uncovered 130,000 fraudulent claims worth £1.32 billion across all insurance products. This danger shows no sign of slowing either, with professional and opportunistic insurance fraud numbers still on the rise. So, how can insurers effectively analyse

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Here’s how auto technology will change claims

afadmin — Thu, 25 May 2017 10:23:43 +0000

Insurers and auto manufacturers are using technology to meet growing consumer expectations, and this will have a major impact on the auto insurance market. The U.S. automotive insurance market will face numerous challenges in 2017 and beyond. As the auto industry responds to changing vehicle technology and notions of personal mobility, and the growth of

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Warren Buffett

afadmin — Mon, 22 May 2017 09:04:23 +0000

AI is good for society but 'enormously disruptive'.

Telematics could solve issues in auto insurance

afadmin — Fri, 19 May 2017 13:57:24 +0000

As the car insurance industry struggles to cope with mounting claims costs, telematics could provide a tangible solution by creating a more proactive claims system. In an interview with Insurance Business, Jim Levendusky, vice president of telematics at Verisk Analytics, observed that the “claims process is very reactive.” Verisk is a New Jersey analytics firm

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Autonomous Cars Will Change the Insurance World

afadmin — Tue, 09 May 2017 09:36:51 +0000

With all of the vehicle testing and prospects of lower accident rates, those in the insurance industry are bracing for big changes ahead. (TNS) — DES MOINES — As his vehicle took a turn in “aggressive mode,” Josh Whitley’s hands hovered near the steering wheel but never touched it. The car, an autonomous research development

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