Telematics holds the potential for improved safety and lower claims

By Dawn Mortimer  |  February 1, 2017

Americans drove a combined 3.1 trillion miles over 12 months through March 2016. With drivers traveling more miles, the potential for accidents increases. The National Safety Council reported that in 2015 “the U.S. had the highest one-year percentage increase in traffic deaths in half a century.”

What if insurers didn’t wait until an accident occurred to get involved? It’s possible for insurers to be proactive about accident prevention and driver safety. By pairing telematics data with proactive services, automobile claim costs (averaging $3,493 for property damage and $17,024 for bodily injury1) could be brought down.

With data captured by their vehicles, consumers can be alerted to issues about the way they drive, as well as their vehicle’s condition. If insurers provide this feedback, they’ll engage drivers and make their policyholders feel confident that they’re insured by the best company for them and their family. The result of such an effort would be the reduction of both the frequency and severity of claims. Insurance companies leveraging telematics will provide their customers better service and help them drive smarter. When insurers are instrumental in reducing claims and increasing safety, everybody wins.

Sources:
1 http://www.verisk.com/verisk-review/summer-2016/auto-claims-frequency-severity-what-s-behind-the-rise.html


Dawn Mortimer

Dawn Mortimer is the assistant vice president of IoT/Telematics Claims Product Management at Verisk – insurance solutions. Before that, Dawn was with Guidewire Software as the market strategy director for data and analytics; she was innovation director at American Family Insurance. Dawn’s background of insurance for the past 29 years has been to serve the industry in many capacities, such as strategy, marketing, I/S, claims, agency, and product lines. She is responsible for leading the claims efforts around IoT/Telematics with suppliers and insurance companies to develop new products, services, and business opportunities. Dawn has her master’s degree in business administration. She is also a Project Management Professional with the Project Management Institute, is a certified Usability Specialist with Human Factors International, has a certification in Alliance Management from the Association of Strategic Alliance Professionals, and has her Fraud Claim Law Associate designation from American Educational Institute (AEI). Dawn’s experience with project management, technology, usability, and market development is critical to working with partners to leverage the Internet of Things for the future.