Apps May Reinvent Car Insurance Industry

Monday, January 5th, 2015 Technology

Car insurance industry, meet potential disrupters Google and Apple. Currently, nearly all mainstream insurers that offer driver-monitoring programs use relatively expensive devices that plug into a portal under the dashboard. Usage-based insurance programs, also called telematics, are a small but growing segment of the auto insurance business. Developing Android and iPhone smartphone apps, in contrast, would cut carriers’ up-front costs when they offer telematics insurance programs, which track policyholder habits such as mileage and braking in exchange for potential savings on insurance.


External References & Further Reading
http://www.providencejournal.com/cars/content/20150103-apps-may-reinvent-car-insurance-industry.ece
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