How to Drive Your Premiums Down with Telematics?
Why insurance telematics matters?
Insurance telematics – also known as usage-based insurance (UBI) or pay-as-you-drive – represents a shift in how insurance is administered and how premiums are calculated. Telematics has the potential to reduce premium costs and generate significant benefits to society.
In 2021 we announce VEXA Insurance, an Internet of Things-based solution for Telematic Insurance. Using data from telematic devices installed in the vehicle, such as speed, distance travelled, braking, cornering, acceleration, and the types of road (motorways or country roads), we build up a comprehensive driver profile and calculate a more accurate premium.