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Telematics data is a game-changer because it’s highly predictive of risk based on driving habits. Using behavior insights can increase profitability and improve the customer experience. While including a telematics-based score in your rating plan can improve your ability to more accurately segment driver risk down to the individual level and enable you to price with precision, a rating is only as good as the scoring model you use.
Access this interactive eBook now to learn about a robust and sophisticated scoring model. You will discover four critical factors to help predict risk more accurately using telematics data:
- Factor 1: Does the telematics model leverage robust and credible telematics data?
- Factor 2: Is the telematics model designed to complement other rating factors?
- Factor 3: Are the telematics attributes ― and overall score ― reasonable and consistent?
- Factor 4: Does the telematics model include coverage-specific performance insights and rating factors?
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