CONNECTED cars will make the UK’s roads safer and ‘big data’ will enable insurance companies to become predictive in assessing risk, delivering fleet insurance premiums savings.
That’s the view of Julien Combeau, industry services lead Europe, client risk solutions at insurance giant AIG, who said the more technologically advanced cars became with the addition of numerous sensors and cameras resulted in the delivery of a raft of valuable data.
He told delegates at the ACFO spring seminar: “With more and more data we can be more focused on individual drivers rather than the fleet portfolio. Traditional claims data analytics highlights lagging trends and targeted action can be taken to reduce risk.”
However, with onboard vehicle sensors and motor manufacturers capturing data in real time, onboard cameras monitoring driver behaviour, well-being and performance and the advent of ‘intelligent highways’ would see collected data being allied to knowledge about how cars were being used individually and meant insurers would better understand the risks posed by individual drivers.
“As more and more technology is deployed and we capture real-time data, accident risk will be avoided, insurers will become better at pricing risk and premiums will reduce,” forecast Mr Combeau.
“Crashes that happened five years ago will influence insurance premiums less because we will have the information available to look forward with more predictive pricing. Ultimately, the introduction of connected cars will result in safer roads.”
