Usage-based car insurance (UBI) is a relatively new concept where your insurance policy costs depends on collected data about how much do you drive, where, when and how. Telemetry allows that this data is sent in real time and thus allows dynamic changing of the cost of the insurance in dependence to the risk assessment at that moment. What’s the greatest idea behind UBI? Well, for me it’s the fact that we’ll be rewarded for less risky driving and for the insurance companies it’s probably the insurance fraud prevention. Company Octo Telematics is allowing that by offering service platform for both, drivers and insurance companies.
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