Howard Wilner of Sudbury, MA Shares Some Interesting Insights about Usage Based Insurance (UBI) for Vehicles

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Howard Wilner of Sudbury, MA Shares Some
Interesting Insights about Usage Based Insurance
(UBI) for Vehicles
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The Impact of IoT on the Global Insurance Industry

• Howard Wilner of Sudbury, MA believes that
  the Internet of Things (IoT) has resulted in a
  wave of connectivity which has influenced pretty
  much every industry in the world.
• For example, the global insurance industry had
  lately been experiencing a big change driven by
  IoT and Fintech.
• The IoT platform helps in connecting insurers of
  different sectors like motor, property,
  individual policyholder blockchain.
• An increasing number of Insurance companies are
  now employing IoT data for improving their
  precision in evaluating risk, pricing policies,
  as well as estimating the necessary reserve.
• The introduction of IoT, according to Howard
  Wilner has created many opportunities in the
  automotive insurance industry like Usage Based
  Insurance (UBI).

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About Automotive Usage Based Insurance (UBI)

• Howard Wilner of Sudbury, MA explains that
  Automotive Usage Based Insurance (UBI) is a
  category of motor insurance which takes into
  account a number of factors for calculating the
  premium.
• Some of these factors include - the vehicle type
  used, distance traveled, drivers behavior, etc.
• Usage Based Insurance (UBI) encourages safe
  driving behavior which ensures fewer accidents,
  thereby helping insurance companies to cut down
  claims payout and improving the bottom line.

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Usage Based Insurance (UBI) Can Be Divided Into
the Following Types

• ?Distance-based insurance
• ?Pay-how-you-drive (PHYD)
• ?Pay-as-you-drive (PAYD)
• ?Manage-how-you-drive (MHYD)

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Future Applications of Automotive Usage Based
Insurance (UBI)

• According to Howard Wilner of Sudbury, MA, some
  of the future applications of automotive Usage
  Based Insurance (UBI) are -
• ?Semi-autonomous autonomous cars
• ?IoT based fleet management
• ?Artificial Intelligence (AI) and HMI in
  transportation

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Thank YouHoward Wilner, Sudbury MA