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Auto Mobility and Insurance

Real-time Information

Telematics can calculate every minute detail of the client’s driving style, including every hard brake, rapid acceleration, parking style, etc. Analytics will amalgamate, analyze and interpret this data, simplifying it to understand the driving patterns of the client and the risk(s) involved. This driving information will be shared with the insurance provider who can use the same to allocate the insurance premium amount for the respective client.

Vehicular insurance companies have realized the difference that real-time information makes in processing claims. With the ability to capture real-time data in the form of images, videos, driving information, etc., there will be adequate information to process a claim or to decide the insurance amount for a client. It will eliminate the possibility of modified data and increases the accuracy of information analyzed.

Time and Efficiency

Time is everything. Waiting for weeks for insurance agencies to process a claim can be painstaking. Insurance companies will soon provide every client a more personalized and expedited service. Mobile devices will enable evaluation of claims or consultation with clients in their comfort zone. In the case of an accident, real-time data can be captured in the form of videos or images, eliminating the possibility of improper claims or incomplete information, which can prove to be a loss for both parties. Automation will reduce paperwork and redundancy. At the same time, it will increase efficiency and accelerate processing of claims.

Management of Data

With the reduction of paperwork and introduction of technologically advanced analytics frameworks, managing vast quantities of data has become a child’s play. Analytics use complex algorithms and mathematical equations to organize, analyze and interpret huge volumes of information. The ability to retrieve relevant information instantaneously and accurately will save a lot of man-hours.

Beyond Insurance

Mobility solutions for auto insurers come with additional services such as roadside assistance in case of an emergency, geo-fencing for parents to monitor their teenager’s driving, customer engagement to ensure the loyalty of the client, driving suggestions and other customizable options. Insurance companies will be able to go beyond their regular services for the client’s convenience.