Info-gathering Devices Produce Data Flood The smart chips and the satellites to upload the collected data routinely installed in cars, appliances, radios, CD players, phones and other electronic devices since 2002, are producing information on usage patterns. While privacy advocates vow to fight court rulings allowing this information to be used, it appears inevitable that the magnitude of the information being created, the multiple means by which it is being collected, and the plethora of emerging commercial applications ultimately will lead to its acceptance.
Implications for p-c insurers:
New data are available for establishing exposures and classifications. Customer segmentation techniques continue to be refined, and increasingly used in both underwriting and pricing.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
