UBI ( Usage Based Insurance ) an Opportunity For Insurers To Rapidly Expand Like TELECOs did with Prepaid Plans
Categories : Vehicle Telematics OBD2 Vehicle Tracking System
Tags : Insurance Vehicle Telematics Insurtech GPS Tracker UBI Usage Based Insurance Motor Insurance IRDAI sandbox
Author : Sai Pattabiram
Creative UBI products can surely expand the ability of Insurance service providers to expand their customer base and reach by innovative use of the Data generated by on board telematics devices . Insurance companies on their part need to evaluate and choose their Telematics partners carefully though as a key requirement for an effective solution is a Total End to End control of the entire solution from Hardware Design to Dashboard configuration including Automated Alert Generation will be key to them in offering the best customer experience while reducing their operational costs through deployment of Artificial Intelligence , Machine Learning algorithms to Automate the entire process .