What is Telematics Insurance ? | Usage Based Insurance
Traxroot Usage Based Insurance Telematics insurance is car insurance where a telematics box is fitted to your car. The telematics box (also commonly known as a black box) then measures various aspects of how, when and where you drive. Usually a telematics box contains - SIM Card - Motion or G Force Sensors - Wireless communication (being introduced recently like bluetooth and wifi) - And a computer software hosting algorithms, data and to perform number crunching. For Insurers Increase loyalty of current policy holders & attract new customers Generate revenue via value-added services Lower risk, cost and claims For Drivers Pay for the kind of driving you actually do. Instant feed back on your driving habits Lower risk, cost and claims For Automotive Increase loyalty of current policy holders & attract new customers Generate revenue via value-added services Lower risk, cost and claims Source: h