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IoT Strategies

Pics: Insurance Telematics Goes to Chicago

CHICAGO -- Insurance Telematics USA 2014 -- A conference for the insurance industry may sound like a snooze fest, but connectivity in vehicles is giving those in the insurance business a reason to stay wide awake.

The consensus at the recent Insurance Telematics show in Chicago seemed to be that it gets more exciting every year as innovation in connected cars enables more opportunities and challenges for insurers.

It also creates opportunities for insurers to work closely with wireless service providers, something they haven't necessarily done in the past. (See Verizon Creates a Mobile ZipCar, Connected Cars: Tether Today, Embed in 10 and MNOs Need to Get in the Driver's Seat.)


For more on telematics, check out our dedicated IoT content channel here on Light Reading.


Light Reading stopped by the conference to hear AT&T Inc. (NYSE: T), Verizon Wireless and T-Mobile US Inc. discuss their role in the value chain, and, of course, to take a connected car test drive courtesy of Intelligent Mechatronic Systems (IMS). Click on the image below for a short slide show of the event.

Cutest Connected Car Ever?
Intelligent Mechatronic Systems (IMS) supports connected car services with a focus on the driver, helping them understand how they are driving and how they are feeling prior to getting behind the wheel. Its dashboard technology synchs with wearables like the FitBit to measure how much sleep a driver has had or a glucose monitor to test blood sugar levels.
Intelligent Mechatronic Systems (IMS) supports connected car services with a focus on the driver, helping them understand how they are driving and how they are feeling prior to getting behind the wheel. Its dashboard technology synchs with wearables like the FitBit to measure how much sleep a driver has had or a glucose monitor to test blood sugar levels.

— Sarah Reedy, Senior Editor, Light Reading

kq4ym 9/10/2014 | 8:44:53 AM
Re: money maker I would also think, that although monitoring gadgets in cars may in the end make driving safer, it's not going to be a free ride for owners. Any costs added to insurance company budgets is going to be reflected in premiums. And most likely any savings in lessor accident payouts by the companies is going to be given back to customers either meargerly or none at all.
Mitch Wagner 9/9/2014 | 8:34:28 PM
Aggression meter The aggression meter on Boston drivers will be permanently pegged to 11. 
Phil_Britt 9/9/2014 | 10:22:43 AM
Re: money maker "Discounts" are often a misnomer. Take Allstate's safe-driving discount. The company just increases the rate first, then offers a discount. You see the same thing happen in retail stores as prices creep up just before a discount sale.
mendyk 9/9/2014 | 10:19:15 AM
Re: money maker Yes, because insurance companies like other profit-making businesses sincerely want to lower their revenues and have little interest in seeing those revenues increase.
sarahthomas1011 9/9/2014 | 9:45:43 AM
Re: money maker Or, the opposite will be true, and you'll get discounts for safe driving. That's something most providers offer already, but this is a way to prove it.
Ariella 9/9/2014 | 9:44:09 AM
pics The car definitely is cute. 
mendyk 9/9/2014 | 9:40:05 AM
money maker I'm sure all drivers are looking forward to the day when their insurance rates will be pegged to their monitored driving habits. Because we're all such safe and careful drivers.
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