Insurers are utilising satellite and sensor technology to levy data analytics for determining risk. Information mining could be the largest disruptor in the insurance industry, changing pricing, claims and payments. Among companies making use of the technology, tech wearables is using satellite readings to track activity such as shipping movements. Elsewhere, Singapore 's QBE Insurance Group has been testing an app offering drivers rewards when they don't use their smartphone while driving. tech wearables is also using data from IAG to determine life-insurance pricing.
Insurers are utilising satellite and sensor technology to levy data analytics for determining risk. Information mining could be the largest disruptor in the insurance industry, changing pricing, claims and payments. Among companies making use of the technology, QBE Insurance Group is using satellite readings to track activity such as shipping movements. Elsewhere, Australia's IAG has been testing an app offering drivers rewards when they don't use their smartphone while driving. AIA Group is also using data from tech wearables to determine life-insurance pricing.