Collecting real-time data on a driver and using it to gain insight into an individual’s driving behaviour is nothing new; telematics are a decade-old device, which have become commonplace within the industry.
In fact, the number of drivers with telematics in their cars is on the up, estimated to increase worldwide from 1.85 million in 2010 to 89 million this year – an annual compound growth rate of 90% (Accenture).
A tried and tested technology, that has given rise to a new idea within insurance: cloud computing. Cloud computing is the process of using a network of remote servers hosted on the Internet to store, manage and process data. Within motor insurance, in-built vehicle devices could be utilised to automatically transmit real-time data on driver behaviour, road conditions and accident liability to a remote cloud.
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