Run Time: 31:42
Can We Reshape Driver Behavior?
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Tune into this episode to learn about insurtech Zendrive and making roads safer using data and analytics. Exec Dennis Ellis started his career leading a nonprofit that works with bereaved children, some of whom had lost their parents in traffic accidents. The insurance industry benefits from technology that impacts driver behavior, Dennis says. Credit scores and other traditional underwriting don’t bring in risky driver actions. Zendrive’s mobile device-based data collection has amassed insights into what causes collisions. Example: Drivers in accidents were using their phones nearly three times as much as non-collision driving. “We are in the prime of digital transformation in the insurance industry,” Dennis says, pointing to the success of insurtech partnerships with carriers. “Consumer expectations are changing. The level of service required is much higher. That’s hard to do on your own” as a carrier. He says the average personal lines book has a 5% adoption rate of telematics. But two-thirds of consumers say they’d be open to telematics to price their policies.
