Why do connected car data fail at monetization? The most valuable companies nowadays are already generating record-high revenues from big data, but connected car data monetization is not happening at the pace predicted by McKinsey's 2016 report.
With Tesla offering real-time usage-based insurance, can we expect a major shift in the car insurance industry? The car insurance market has been heating up for hears, and the transformation towards telematics-based insurance is inevitable and cannot be avoided nor prolonged anymore.
Telematics is what’s shifting the insurers’ discriminating models from socio-economic and non-driving factors towards precise claim risk factors. Currently, insurer's proprietary premium pricing models rely on a myriad of more or less non-driving and discriminating factors, such as are age, sex, skin color, ethnicity, etc.