Insurance telematics is changing the automotive insurance business. Major insurance companies are today interested in the customization of policies by collecting sets of data related to the use of the vehicle in order to better price risk, decrease accidents, fraud and traffic congestion.
According to recent studies, 44 million insured in Europe will choose a Usage Based Insurance policy within the next 5 years *.
Vodafone Automotive has taken a leading position in Europe in implementing and running usage based insurance telematics services. Based on driving behaviour data as well as on pay as you drive information, gathered from in-car telematics devices, Vodafone Automotive technology is used to calculate individual risk profiles and specific indicators which ensure car insurance companies to offer new types of car insurance policies. (see also Customer Dashboard)
Furthermore, in the case of a serious accident, the emergency services can be activated automatically and immediately and can be sent to the location of the accident.
*Source: ABI Research