Accessing data from connected cars could save insurers money on claims

Insurers need to get ready for the amount of data that will come from the increased use of connected cars, which could help save time and money on claims, Wunelli said.

Managing director Penny Searles said that as motor manufacturers adopt the technology to capture driving and vehicle performance data for research and development purposes, insurers also need to develop a method to access that data.

She added that insurers should be speaking to their customers and amending policy wordings to enable them to get permission from policyholders, for when they are ready to start accessing the data.

“There is going to be a higher number of vehicles with data coming out of them, so instead of insurers having to put black boxes in or smart phone applications they could access that data,” Searles added.

“We need to go out to customers now in policy wordings to say if data is available is on your vehicle, are you going to give us permission to use it, in the event of a claim or for your premiums?

“With an accident, insurers can make sure emergency services can go out to customers and get claims dealt with really quickly, without going through lots of paperwork.

“It could cut cost dramatically for insurers and in the end cut premiums down for the customer and help insurers to provide a better service.”