PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

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3 INSURANCE TECHNOLOGY TRENDS THAT WILL RULE THE ROOST IN 2019

We’re sure you’ll agree when we say: traditionally, the insurance industry worldwide has been dominated by massive national brands and legacy product lines and age-old technology.

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MOBILE APPS MAKING DRIVING SMARTER!

New digital interventions appear to change driving habits. Mobile-based telematics that measures driving behaviours is now considered to be the future of safer roads.

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USAGE-BASED INSURANCE DRIVING TELEMATICS MARKET GROWTH!

The usage-based insurance (UBI) market is predicted to grow in the next five years. The increased number of vehicles embedded with telematics is one of the major factors driving growth. This tracking system allows insurance companies to calculate premiums based on the vehicle health, usage rate and driving behaviour.

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USAGE BASED INSURANCE GENIE – DRIVING THE USER EXPERIENCE

Do you know; you can now save money on your car insurance? All you need is to become a smooth driver who doesn’t speed through turns or slam on the brakes. And that’s how usage-based car insurance works.

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INFOGRAPHIC: WHY INSURERS SHOULD HASTEN TELEMATICS INVESTMENT

The emerging insurance telematics is revolutionizing the auto insurance industry. Insurers that embrace digital transformation will have tremendous opportunities to better engage with their customers, while providing new and improved services and also cut down costs.

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REDUCE YOUR CLAIM COSTS WITH TELEMATICS

The auto insurance claims costs are increasing faster than ever, making it imperative to find a reliable way to reduce them. According to insurance statistics, around 40% of drivers who submit a claim are likely to change insurers within a year.