Innovation Group: Telematics a huge untapped opportunity
Firm says motor insurance industry needs to exploit digital in order to overtake competitors.
Many brokers and insurers still do not have access to the data required when it comes to telematics and claims, according to a report by Innovation Group.
According to the company, another problem is that those who do have access to the data are faced with challenges posed by legacy systems, low volumes, expensive integrations and multiple sources of data that often mean the telematics claims experience is less effective.
Chris Ashworth, managing director, UK motor at Innovation Group, said:
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