The Effect Of Telematics On The Automobile Insurance Industry

Many aspects of our lives are available on the Internet. Even a black box in our new car--or event data recorder as they are called--is ready and willing to spill the beans on our driving habits.

The automobile began as a rich man’s toy, and in today’s society almost every single person owns one of these miraculous inventions. After the automobile became more popular, society has evolved around it, creating highways and fast food chains. The automobile has revised from a bare invention, such as the horseless carriage, to now technologically advanced motor vehicles with bluetooth and wireless internet. Since the beginning age of the automobile in 1885, the invention has advanced, prospered, and changed society throughout the world.

Mike Sadle is the owner of Mike’s Wrecker Service in Huntsville, Alabama. Mike has been providing tow services in the Huntsville and the surrounding areas for the past 20 plus years. During that span, Mike has experienced firsthand the growth and evolution of the towing industry. The purpose of this project was to help Mike identify an area in his business where a significant contribution could be made to increase the overall success of the company. The goal was to present Mike’s Wrecker Service with a telematics solution that will not only bring added value to the company but also provide a significant competitive advantage.

Cars are something that almost every person has or will use in their everyday life or need to use their car to get to and from work or school everyday. Well in this paper you will learn about what technology has done to change the Automotive Industry as well as your everyday life. This paper will be focusing on the Technologies inside of the car, along with the Technologies that keep you safe and also a little bit about Self-Driving Cars. So fasten your seatbelts while you are reading this paper.

Mike Sadle is the owner of Mike’s Wrecker Service in Huntsville Alabama. Mike has been providing tow services in the Huntsville and the surrounding areas for the past 20 plus years. During that span, Mike has experienced firsthand the growth and evolution of the towing industry. The purpose of this project was to help Mike identify an area in his business where a significant contribution could be made to increase the overall success of the company. The goal was to present Mike’s Wrecker Service with a telematics solution that will not only bring added value to the company but also provide a significant competitive advantage.

First driverless cars are much less likely to crash. In fact “The National Highway Traffic Safety Administration estimates that between 93 percent and 95 percent of car accidents are caused by human error” (par. 5, Tribune). This study displays

The driverless car would be a great innovation to have in your everyday life because it will allow cities to not be as congested. Firstly, this technology will become increasingly reliable and affordable, which will allow dense, urban locations to become more spread out in population (Dashevsky). This demonstrates that when this innovation

In this article, Peters and Peters discuses about the risk of multitasking while driving. Not only they propose a problem, but also tries to give the reader an alternative ways of preventing the cause of an accident. He gives us three-risk factors that can reduce the chances of getting into an accident. They suggest having a printed and audible warning to warn the drivers not to use the device unless the vehicle is not moving, an integrated system “which all device are either shut off or out of driver’s sight when the vehicle is in motion” and finally, “ marketing and dealer restraint”. If these warnings are available in the vehicle, there should be a less chance to be distracted and cause an accident and also, this can be useful thing to create in the vehicle to remind the driver not to multitask while

Nowadays, information technology dominant society which took an important role of providing better services with its intensive data and information. Some or part of the services continuously changing their shapes from traditional type of works to online base systems along with the recent innovation. Insurance is one of them. People are able to exchange and contract their insurance policies on the website by providing information just to complete the applications. Obamacare also adopt this system to make it more accessible and affordable to everyone. The online system eliminates or reduce the assessment and underwriting process which usually proceed before the contract, so that insurance companies are able to provide insurance less expensive and much easier to people especially for young people compare to the traditional style of insurance. It also reduced a large amount of paper works associated with assessment or contraction process. As a consequence, usability became more simple and convenient both for insured and insurer.

He includes organizations and people who work at a high level in different automobile industries to convey what each of their perspective is upon the idea of self-driving cars. Hence, he also used direct quotes from young Americans who don’t own a car to demonstrate having a car isn’t necessary, and demonstrates how these mobility services might impact automotive industries and smaller companies as well. Despite Boudette’s lack of adding to the text the negative perspective of autonomous vehicles, he does manage to open the minds of many citizens upon the idea of having self-driving cars in the near future is a positive thing for our growing society and how it may benefit the automobile industries as

In reading article “Are Integrated Devices Safer than Using Handheld Devices While Driving?” the author, Mitch Bainwol reasons why integrated devices are safer for drivers to use than handheld devices are. Mitch Bainwol stands by the idea that the integrated systems placed in cars are much safer for automobile drivers while on the road because it could help eliminate a lot of the car accidents on the road. Mr. Bainwol’s backs up his point of view by providing statistics from research data and comparing the integrated systems against the use of cell phones when driving to convince readers that using technology that is already built in the cars makes the driver safer. The author’s finding from his research verifies that 80 percent of automobile

Even though the Ford Motor Company is currently doing extremely well in the automotive industry, they are currently emerging opportunities to be a leader in electrification, autonomy, and mobility. The Ford Motor Company recently purchased SAIPS and Chariot. “SAIPS is a world-class provider of customized algorithmic solutions in the fields of computer vision and machine learning” (Crunchbase, na, nd). Chariot is a company that offers shuttle service and commuter mobility programs in larger cities. The purchase of these two companies will help the Ford Motor Company as they expand as a mobility company as well as the leader in the automotive industry. According to the article, Ford Outlines Growth Plan, “Ford is evolving its business in three ways:

In the recent years, the United States government has been enforcing stricter mandates on auto manufacturers to create safer vehicles, and on construction companies to create safer roadways. Matthew Jensen wrote a dissertation for the Graduate School of Clemson University titled, A Methodology for the Analysis of In-vehicle Operating Data and Design of Intelligent Vehicle Systems for Improved Automotive Safety. In his abstract, Jensen evaluated the future of vehicle manufacturing and traffic-related incidents. Of course, every year more vehicles are manufactured, which in theory means the number of miles driven in vehicles increases. He points out how the World Health Organization (WHO) found that automobile crashes was the ninth

There are many ways to save money on your car insurance policy. Some of them are obvious like paying for the entire policy rather than making payments or increasing you deductible on your collision coverage. However, the following are three often overlooked ways to pay less.

Hansen Consulting proudly presents the following statistical information for Otto’s Auto parts. Statistics is a branch of mathematics that makes it possible for you to gain an edge over your competitors by providing a method for collection of data, and a way to summarize and quantify it to represent real world observations from which predictions can be made. Statistics also includes stochastic modeling, which is a powerful tool that incorporates random variables to predict future outcomes. For decades insurance companies have successfully profited from using stochastic modeling for making predictions of unknown entities. Stochastic models can be run hundreds or even thousands of times to show the