For years, auto insurers' efforts to achieve greater pricing precision has involved looking backwards—analyzing historical claim data and risk characteristics to determine the right price for a current exposure. Telematics is changing that process by allowing insurers to price automobile policies based on current driving behavior, and the impact on the insurance industry is potentially disruptive.
"The ability to 'right-price' risks is a game-changer," says Mark Hill, Specialist Leader at Deloitte Consulting.
Hill and colleagues Andrew Goldberg, Director at Deloitte, and Robert Hirsch, Director at Deloitte Consulting, will be leading a session Wednesday on insurance telematics. The discussion will allow attendees to gain new insights into what defines insurance telematics and what makes telematics a transformational innovation.
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