The role of data portability in telematics

Quite an interesting article on telematics and data portability - which throws up quite a few questions...read on!

Increasingly new cars are becoming connected, and there are a variety of after market plug in solutions, as well as the mobile phone. They all can collect data on how, when and where a car is driven. Globally, more people are opting for telematics solutions. Matteo Carbone provides great commentary on the developments.

Is there a role for a telematics telematics exchange, focussing exclusively on data management, data normalization and standardization? A well-managed exchange could help provide insurers with efficient access to data, and further fuel the shift to solutions based on usage.

A potentially tricky one for insurers. Those insurers that have solutions may be reluctant to share the data they have collected with other insurers. Of course, insurers aren't the only ones collecting data - e.g. the motor vehicle manufacturers are also collecting it. And no doubt insurers would like access to that data. IAG recently argued for a standardised framework for access to key auto data. - https://lnkd.in/grwWhfkw?

Ultimately this probably comes down to the question of whose data is it anyway? There is a strong case that is owned by "the driver" or "vehicle owner". We have seen the introduction of "data rights" regimes across many countries - in financial services and in Australia these rights also extend to telecoms, energy and insurance. These provide rights to the consumer to shift their data from one entity to another. Should this type of regime apply to telematics type data?

Source: Digital Insurance