Ali Soliman
Data plays a central role in all technical aspects of insurance and actuarial work. However, utilisation is often still confined to aggregate premium and claims data. Not so in the case of telematics. Say the phrase ‘black box’ and most people will think of flight recorders fitted to aircraft. But Motor insurers also use the millions of data points generated by black boxes, fitted to more than a million cars in the UK, to price risks. What’s more Marine insurers are getting in on the act. In this post we take an actuarial vantage to explore the use of telematics data and consider whether insurers could be using this ‘gold mine’ of information even more widely.
