The smartphone: A platform for insurance innovation - NU PropertyCasualty360

While the information and dashcam capabilities are valuable, the much a exertion institution offers from its platform, the much invaluable it becomes to some insurers and consumers. However, processing each the capabilities an car insurer oregon a motorist could privation in-house is excessively costly and time-consuming for a azygous institution to undertake. So, exertion companies are driven to spouse with different vendors who supply complementary capabilities. (Credit: Beton Studio/Adobe Stock)

Modern cars present travel equipped with impressive, precocious information features, each of which support the operator and trim the hazard to carriers providing these drivers with auto insurance. Of course, galore motorists can’t conscionable bargain a caller car equipped with these information capabilities.

That said, they astir apt ain a smartphone. In fact, according to a 2021 survey from Pew, astatine slightest 85% of Americans do. That smartphone presents insurers with a remarkably flexible level that tin alteration a wide array of precocious capabilities.

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