Carbone highlights private auto telematics as a living proof. Utilization-based insurance coverage (UBI) in North America initially focuses on pricing sophistication, however the broader potential of telematics can affect distribution, compliance, and claims. “Should you preserve this new know-how restricted solely to pricing, the influence is fairly restricted. The brokers must be on board, compliance should assessment, and the product should successfully leverage the info,” he stated. “Progressive, for instance, constructed an organizational transformation round telematics. Others with the identical know-how struggled as a result of they didn’t tackle the interdependencies.”
