Implementing Automotive Telematics for Fleet Insurance
The advantages of Usage-Based Insurance for automotive covers over conventional rating methods have been discussed in literature for over four decades. Notwithstanding their adoption in insurance markets has been slow. This paper seeks to establish the viability of introducing fleet Telematics-Based...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Universidad Alberto Hurtado
2013-12-01
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| Series: | Journal of Technology Management & Innovation |
| Subjects: | |
| Online Access: | https://www.jotmi.org/index.php/GT/article/view/1308 |
| _version_ | 1797848418255634432 |
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| author | Marika Azzopardi Dominic Cortis |
| author_facet | Marika Azzopardi Dominic Cortis |
| author_sort | Marika Azzopardi |
| collection | DOAJ |
| description | The advantages of Usage-Based Insurance for automotive covers over conventional rating methods have been discussed in literature for over four decades. Notwithstanding their adoption in insurance markets has been slow. This paper seeks to establish the viability of introducing fleet Telematics-Based Insurance by investigating the perceptions of insurance operators, tracking service providers and corporate fleet owners. At its core, the study involves a SWOT-analysis to appraise Telematics-Based Insurance against conventional premium rating systems. Twenty five key stakeholders in Malta, a country with an insurance industry that represents others in microcosm, were interviewed to develop our analysis. We assert that local insurers have interests in such insurance schemes as enhanced fleet management and monitoring translate into an improved insurance risk. The findings presented here have implications for all stakeholders as we argue that telematics enhance fleet management, TBI improves risk management for insurers and adoption of this technology is dependent on telematics providers increasing the perceived control by insurers over managing this technology. |
| first_indexed | 2024-04-09T18:27:12Z |
| format | Article |
| id | doaj.art-0a38960bfcda4e208d62ceb84df59708 |
| institution | Directory Open Access Journal |
| issn | 0718-2724 |
| language | English |
| last_indexed | 2024-04-09T18:27:12Z |
| publishDate | 2013-12-01 |
| publisher | Universidad Alberto Hurtado |
| record_format | Article |
| series | Journal of Technology Management & Innovation |
| spelling | doaj.art-0a38960bfcda4e208d62ceb84df597082023-04-11T20:00:57ZengUniversidad Alberto HurtadoJournal of Technology Management & Innovation0718-27242013-12-018410.4067/S0718-27242013000500006879Implementing Automotive Telematics for Fleet InsuranceMarika Azzopardi0Dominic Cortis1Department of Banking and Finance, Faculty of Economics, Management and Finance, Old Humanities B, University of Malta, Msida, Malta MSD 2080Department of Mathematics, University of Leicester, University Road, Leicester, United Kingdom, LE1 7RHThe advantages of Usage-Based Insurance for automotive covers over conventional rating methods have been discussed in literature for over four decades. Notwithstanding their adoption in insurance markets has been slow. This paper seeks to establish the viability of introducing fleet Telematics-Based Insurance by investigating the perceptions of insurance operators, tracking service providers and corporate fleet owners. At its core, the study involves a SWOT-analysis to appraise Telematics-Based Insurance against conventional premium rating systems. Twenty five key stakeholders in Malta, a country with an insurance industry that represents others in microcosm, were interviewed to develop our analysis. We assert that local insurers have interests in such insurance schemes as enhanced fleet management and monitoring translate into an improved insurance risk. The findings presented here have implications for all stakeholders as we argue that telematics enhance fleet management, TBI improves risk management for insurers and adoption of this technology is dependent on telematics providers increasing the perceived control by insurers over managing this technology.https://www.jotmi.org/index.php/GT/article/view/1308Telematics-Based Insurancefleet managementrisk managementmotor insurancetechnology adoptionUsage-Based Insurance |
| spellingShingle | Marika Azzopardi Dominic Cortis Implementing Automotive Telematics for Fleet Insurance Journal of Technology Management & Innovation Telematics-Based Insurance fleet management risk management motor insurance technology adoption Usage-Based Insurance |
| title | Implementing Automotive Telematics for Fleet Insurance |
| title_full | Implementing Automotive Telematics for Fleet Insurance |
| title_fullStr | Implementing Automotive Telematics for Fleet Insurance |
| title_full_unstemmed | Implementing Automotive Telematics for Fleet Insurance |
| title_short | Implementing Automotive Telematics for Fleet Insurance |
| title_sort | implementing automotive telematics for fleet insurance |
| topic | Telematics-Based Insurance fleet management risk management motor insurance technology adoption Usage-Based Insurance |
| url | https://www.jotmi.org/index.php/GT/article/view/1308 |
| work_keys_str_mv | AT marikaazzopardi implementingautomotivetelematicsforfleetinsurance AT dominiccortis implementingautomotivetelematicsforfleetinsurance |