The use of telematics is a growing trend, with more and more companies relying on telematics devices and sensors to monitor behavior. (Photo: Shutterstock)
Modern technology, such as telematics, which combines telecommunications and vehicular technologies, and the Internet of Things (IoT), is transforming how insurance companies do business. While the explosive growth of usage and diagnostic data being generated from these connected devices and sensors has dramatically improved risk management, it has also created a data management nightmare. Insurance companies' already data-intensive operations have been drowning in data, and thanks to telematics, the problem is only getting worse.
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