The Move to Lower Cost UBI Data Collection
In the near future, the costs related to user-based insurance (UBI) will be lower. The way to achieve those lower costs is by migrating away from devices. In this video on the move to lower cost UBI data collection, Paul Stacy, telematics research and development director, LexisNexis® Risk Solutions, talks about the future direction of telematics data.
"We're clearly marching to a future where the cost of the data is lower. We need to get the cost of the data well below two to three percent of gross written premium before aftermarket telematics becomes mass market. It has a chance then. At the moment, with the global concentration..." (Watch video for more)