Enticing consumers to take the plunge and allow their driving performance to be monitored via telematics is only half the battle for carriers transitioning to a usage-based auto insurance program.
The other half is retaining those accounts by convincing customers not only that telematics could result in lower premiums, but that it can also pave the road to deliver a new set of value-added services.
Indeed, while the potential for a discounted premium may be important to achieve initial consumer adoption, telematics can be leveraged to create a much deeper level of engagement as usage-based insurance (UBI) moves beyond its nascent stage, resulting in a more beneficial customer experience.
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.