Understandably, consumers will have reservations regarding the pros and cons of telematics. Concerns around data privacy will take precedent; so a method needs to be adopted in order to garner trust in the tech. This is one such method.
If the driver is deemed low risk, the insurer can use telematics information to reward utility vouchers, food & drinks vouchers, or even days and weekends away.
After legislation passed in 2018 for the implementation of the Civil Liability Act, the whiplash reforms are set to come into effect in May 2021.
Upselling products to customers can be difficult without solid intelligence behind what to sell them. This is where machine learning comes in; and with it, recommendation engines.
Greenfield has a lot to offer insurers; however there are several other considerations to reflect on too. Is the grass greener?
