Technology Is Transforming The Auto Insurance Industry Faster Than We Know It

Technology is upending the world of insurance in general, but especially the car insurance industry. We are awash in new technologies and new ways to measure risk, engage with customers, reduce costs, improve efficiency and provide better solutions to insurance customers. The global automotive telematics market is expected to reach $11.5 billion by 2021, growing at a CAGR of 18% during 2017 – 2021. Machine learning has the capacity to revolutionise the customer experience by identifying previous buying experiences, leveraging a giant pool of data to predict a customer's likeliness to purchase a product.