Telematics - an Untapped Opportunity in Oz?
Globally, telematics/usage based insurance options are getting traction – be it through apps or plug in tech. To name a few:
Root Insurance Agency, a US app driven usage proposition; recently listed
Trōv continues to partner using its mobility platform – the latest partnership with UFODRIVE, a rental platform in London, UK
Vitality announced a partnership with Covéa Insurance looking to a Spring launch in the UK. Like its health model, policyholders get rewards eg for safe driving
By Miles, has just launched By Bits. A SaaS platform enabling insurers develop their own usage-based products
Traction in Australia has not been so strong – several attempts started & then stopped…AAMI, QBE. I believe there are some real opportunities - if approached the right way!
