OVE RVI E W I NSURT E CH & T E L E MAT I CS Dr. Mic he lle O sb o rne , MBA, C IC C hie f De p uty C o mmissio ne r
OVE RVI E W DOI UPDAT E S Dr. Mic he lle O sb o rne , MBA, C IC C hie f De p uty C o mmissio ne r
CT R L E GI SL AT I ON R AT E MODE R NI ZAT I ON E ME R GE NCY MANAGE ME NT SMAR T P HONE AP P S AGE NCY AUDI T S
R OAD MAP T O Ro a d Ma p T o With Ag e nc y Audits
I NSURT E CH T he purpo se o f Insurte c h sta rtup c o mpa nie s is to utilize te c hno lo g y to so lve pro b le ms in the insura nc e industry. Insurte c h re fe rs to se g me nts o f ne w te c hno lo g ie s in the insura nc e se c to r tha t use : Sma rtpho ne Apps • Cla ims Ac c e le ra tio n T o o ls • Co nsume r Ac tivity We a ra b le s • Individua l Co nsume r Risk De ve lo pme nt Syste ms • Auto ma te d Co mplia nc e Pro c e ssing • Online Po lic y Ha ndling • As de fine d b y inve to pe dia a nd wikipe dia T his Pho to b y Unkno wn Autho r is lic e nse d unde r CC BY- NC-ND
INSUR T E CH T he I nsura nc e Jo urna l pub lishe d a n a rtic le o n Ma y 8, 2018 o n the I nsurte c h ma rke t sha re . T he a rtic le c ite d a 2018 J.D. Po we r study, fo c using mo stly o n the a uto insura nc e industry. T he a rtic le indic a te s tha t just six pe rc e nt o f pro spe c tive c o nsume rs a re a wa re o f o ne o f the fo llo wing I nsurte c h sta rtups:
I NSURT E CH L e monade whic h is a n insura nc e sta rtup tha t re lie s o n a rtific ia l inte llig e nc e a nd b e ha vio ra l e c o no mic s to pro vide insura nc e to re nte rs, c o nd o o wne rs a nd ho me o wne rs. I t’ s und e rwriting pro fits g o to no npro fits (in 2017 te n pe rc e nt o f its re ve nue s we nt to fo urte e n diffe re nt c a use s c ho se n b y the L e mo na de c o mmunity). Me troMile whic h is a pa y-pe r-mile a uto insura nc e pro vide r. T he c o ve ra g e is de sig ne d fo r drive rs who drive le ss tha n 10,000 mile s a ye a r. I t pro p o se s to sa ve the ta rg e te d insure ds a ppro xima te ly $500 pe r ye a r. T he c o mpa ny is c urre ntly o pe ra ting in CA, I L , NJ, OR, PA, VA a nd WA. Sure is a c o mp a ny c urre ntly o ffe ring re nta l, pe t a nd o the r spe c ia lty c o nsume r c o ve ra g e s (suc h a s tra ve l c o ve ra g e o r c a ta stro phic e ve nt c o ve ra g e ). T he se c o mp a nie s a re inve sting he a vily in na tio na l a dve rtising to b uild the ir b ra nd a nd insure rs a re no t ta king a ny c ha nc e s o n lo sing the ir ma rke t sha re .
T E L E MAT I CS T e le ma tic s is de fine d (a c c o rding to Wikipe dia ) a s a n inte rdisc iplina ry fie ld tha t e nc o mpa sse s: T e le c o mmunic a tio ns Ve hic ula r T e c hno lo g ie s Ro a d T ra nspo rta tio n Ro a d Sa fe ty E le c tric a l E ng ine e ring (se nso rs, instrume nta tio n, wire le ss c o mmunic a tio ns, e tc .) Co mpute r Sc ie nc e (multime dia , Inte rne t, e tc ) T e le ma tic s is a me tho d o f mo nito ring ve hic le s a nd e ve n he a vy e q uipme nt b y utilizing : GPS E ng ine Inte rfa c e Input/ Output Inte rfa c e SI M c a rd Ac c e le ro me te r Buzze r Othe r o nb o a rd dia g no stic to o ls to re c o rd mo ve me nts o n a c o mpute rize d ma p T he se c o mpo ne nts a llo w a c o mpute r to tra c k va rio us de ta ils suc h a s spe e d, idling , fue l use , tire pre ssure a nd o the r dia g no stic s to mo nito r ve hic le usa g e a nd driving ha b its.
ARE YOU RE ADY? As de fine d b y inve to pe dia a nd wikipe dia
T E L E MAT I CS Re g ula ting in this ne w mo de rnize d wo rld o f te le ma tic s: T his Pho to b y Unkno wn Autho r is lic e nse d unde r CC BY-NC
Recommend
More recommend
