No matter how many tools get introduced to workflows, there will always be a need for human judgement, oversight, and, most importantly, imagination.
Economic growth has resulted in miles driven, accident frequency, and road fatalities returning or exceeding levels last seen in 2007. Growth in urban and suburban areas, more freight traffic, and more vehicles on the road overall have led to more complex mobility on U.S. roads indicating further lifts in auto claim frequency in the near future. Crash avoidance technologies, and growth in telecommuting and other non-vehicle commuting could counter accident frequency growth over time.
Here’s a thought experiment. Imagine that you manufacture some things – let’s call them automobiles. And imagine that in those automobiles you’ve installed bunches of computer systems to control steering, braking, transmission, engine performance, and even record GPS-determined locations. Let’s call these computer systems electronic control units (ECUs). And imagine that these ECUs generate streams of data that are potentially highly valuable to organizations that are interested in how safely a given automobile is being operated.
Insurers must recognize that for some consumers, offering value in exchange for their data is a key attraction.