Technology

Background on: Insurtech

The topic

The word “insurtech” is often used to describe the use of new technology to drive cost savings and efficiencies at various points of the insurance value chain. It is also used as a synonym for startups that offer new products or deliver traditional coverage with greater speed and efficiency than traditional carriers can provide.

Background on: Self-driving cars and insurance

Overview

Each new generation of cars is equipped with more automated features and crash avoidance technology. Indeed, many of today’s high-end cars and some mid-priced ones already have options, such as blind-spot monitoring, forward-collision warnings and lane-departure warnings. These will be the components of tomorrow’s fully self-driving vehicles.

Since most car crashes are caused by human error, in theory, taking control of the moving vehicle away from the driver is expected to drastically reduce highway fatalities.   

Background on: Pay-as-you drive auto insurance (telematics)

What is telematics?

Facts + Statistics: Identity theft and cybercrime

Key Facts