Advances in telematics devices and real-time data analysis have resulted in improved claims notification times: Aite Group report
London, UK (Aug. 23, 2018) – Commercial insurance carriers must evolve in the commercial vehicle landscape as new mobility options become the norm, or they risk losing the ability to compete and grow their commercial books of business. This evolution will be challenging and encompasses changing product offerings, rethinking underwriting methods, and developing new claims processes. But telematics providers are evolving to match the changes in the mobility space, delivering new products and technologies that allow fleet operators and insurance carriers to better manage risk and reduce expenses.
Aite Group’s latest report, Telematics for Commercial Vehicle Insurance: A Vendor Overview, outlines key commercial vehicle market trends as well as the current telematics solutions offered to address those trends and profiles 18 vendors.
“Insurers must update their systems more quickly to adapt to the changing commercial vehicle market, and partnering with a telematics vendor will provide the insurer with the best opportunity for capturing market share while managing the risk that affords,” explains Greg Donaldson, senior analyst at Aite Group.
This new Aite Group report outlines key commercial vehicle market trends as well as the current telematics solutions offered to address those trends. This report profiles the following 18 vendors: Accenture, Amodo, Arity, Baseline Telematics, Cambridge Mobile Telematics (CMT), eDriving, EXL, The Floow, Intelligent Mechatronic Systems (IMS), LightMetrics, messageLoud, Nexar, Octo Telematics, Scope Technology, SpeedGuage, TransUnion, Verisk, and Zendrive. It is based on interviews and discussions with more than 50 executives at insurers and telematics technology vendors across North America, Europe, Asia, and Africa. The interviews were conducted between May and July 2018.
This 46-page Impact Report contains eight figures and five tables.
The report mentions AIG, Allstate, American Transit, Answer Financial, AXA Direct, BNP Paribas, British Telecom, Caixa Seguradora, Cellcontrol, the city of Chicago, FICO, Generali, Group Sura, Hereford, Industrielle Alliance, Maritime Financial, Mobly Belgium, Nationwide Insurance, Nestle, P&V Insurance, Porsche, SGI Canada Insurance Services, Sur, Tribe, Triglav Group, and Zurich Risk Services.
Click here for the online report summary or to download the table of contents.
To to speak with Greg Donaldson about this topic, please contact [email protected].
About Aite Group
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.
Source: Aite GroupTags: Accenture, Aite Group, Baseline Telematics, Cambridge Mobile Telematics, Industrial Alliance, Insurance & Mobility Solutions (IMS), Nationwide, Octo Telematics, SGI, Telematics, The Floow, Verisk