Types of Telematics Insurance: Usage-Based Insurance, Pay-As-You-Drive & Pay-Per-Mile
Telematics insurance – usage-based insurance, pay-as-you-drive & pay-per-mile insurance, that you can get a discount on your car insurance
Telematics is a method of monitoring cars, trucks, equipment and other assets by using GPS technology and on-board diagnostics (OBD) to plot the asset’s movements on a computerized map.
Tracking work trucks on their daily routes is an example of telematics. Electronically monitoring fuel usage and mileage is another common example. As technology becomes less expensive and easier to use, more businesses are incorporating telematics into their everyday operations.
Telematics systems gather data including vehicle location, driver behaviour, engine diagnostics and vehicle activity, and visualize this data on software platforms that help fleet operators manage their resources.
Telematics works through a device installed in your car or phone app and uses GPS technology to monitor your driving. Telematics data is often recorded using a small ‘black box’ fitted into your car – sometimes called a telematics box.
Telematics insurance – usage-based insurance, pay-as-you-drive & pay-per-mile insurance, that you can get a discount on your car insurance
New Potential and Opportunity of Telematics. Usage-based insurance is gaining popularity, many motor insurers are beginning to offer it
Usage-based auto insurance programs have seen a dramatic increase, according to a new report, the consumer data
Autonomous mobility has the potential to dramatically transform the automotive insurance market, from underwriting to claims and beyond