IoT/Telematics

To expedite accurate claim reporting, the Telematics Concierge Claim Service will be built from the groundbreaking Verisk Data Exchange. The exchange accepts all types of data transmitted from vehicles and homes and connects automakers and telematics service providers to insurers.

Commercial auto insurance poses a challenge to many insurers, with rising frequency and severity of claims exacerbated by exposure misclassification and a lack of risk segmentation. By integrating telematics into their workflows, insurers can tap data from millions of connected commercial vehicles to sharpen underwriting and improve the total customer experience from quote to claim.

Vehicle and driving data can power usage-based insurance (UBI) and claims processing. But how can auto manufacturers, telematics service providers, mobile service providers, and hundreds of auto insurers connect to leverage driving data and improve the customer experience from quote to claim? With the Verisk Data Exchange, you can maximize your data’s reach across the insurance market, simplify data integration and infrastructure development, strengthen consumer engagement, and streamline claims service.

Telematics and connected cars are rapidly driving the auto insurance market toward usage-based insurance, where a wealth of data from nearly all new cars can sharpen underwriting and improve the customer experience from quote to claim. Direct measurement of driving behavior is the best predictor of loss experience, but UBI is a challenge for most insurers to implement.

Our ongoing video series Telematics: Perspectives on a Game Changer educates insurers about the benefits of UBI programs and gives you a behind-the-scenes look at the suite of tools we’ve developed to help jump-start your telematics initiatives.