PS Gen TL
Follow Us
ITA MEMBERSHIP

MOBILITY

MOBILITY

CSC Expands Digital Insurance Portfolio with Telematics

Staff Writer | June 22, 2016

CSC announces a new usage-based insurance (UBI) and telematics offering to help insurers price new products based on driving behaviors. The new offering incorporates digital claims, policy administration and underwriting solutions from CSC with driver profile software from Scope Technologies

The result is a telematics-based offering that will enable insurance providers to build long-term, profitable customer relationships employing “pay-how-you-drive” risk assessment and underwriting, which in turn will allow insurers to better match premiums with driver risk. In addition, the offering’s immediate crash detection and sophisticated accident recreation will help identify fraud and streamline the claims process.

The new offering is currently under pilot by an Asian insurer based in the Philippines. Once it is fully deployed, the insurer will be able to launch new insurance products within months, avoiding lengthy implementation times and resource investments.

“Extending the Internet of Things to automobiles through in-car devices, smart phones, and ultimately the connected car enables a whole range of different services that will fundamentally change the relationship between insurers and their customers,” says Phil Ratcliff, vice president and general manager, CSC’s Global Insurance Industry. “Data collected with telematics devices creates a big data resource that enables insurers to more appropriately price risk, thereby helping them focus on selecting, underwriting and serving the most-profitable customers.”

CSC offers an end-to-end telematics solution with insurance and claims management support on an advanced actuarial platform. The offering is available as either an outsourced solution or integrated into an insurer’s current technology.

“Many telematics pilot projects have been slow to take off as insurers struggle with complex and costly implementations,” says Thuy Osman, Novarica research and consulting manager. “CSC and Scope’s collaboration to address this problem should help accelerate an insurer’s ability to bring telematics-based products to market and continue to drive the growth of UBI.”


Featured articles

PS Gen MR

PS MR Data Study

ELECTRONIC CHAT

The Email Chat is a regular feature of the ITA Pro magazine and website. We send a series of questions to an insurance IT leader in search of thought-provoking responses on important issues facing the insurance industry.

WEB EVENTS

ITA is pleased to present the 2014 Webinar Series. We have many topics for you to choose from and attendance is open to all ITA members. The webinar topics are current and exciting — ranging from predictive analytics to telematics and will focus on the direction insurance carriers need to follow for the future. All webinars are presented by insurance IT professionals along with some of the leading analysts and consultants in the field. There is no cost to attend an ITA webinar. For more information and to register for the webinar, click the “title” of the webinar below.

BLOGS AND COLUMNS

only online

Only Online Archive

ITA Pro Buyers' Guide

Vendor Views

Partner News