Translate to: 

Technology is changing short term insurance

SOUTHERN CAPE BUSINESS NEWS - It is clear to anyone that technology is changing rapidly and having a greater impact on our lives. In the insurance industry technology also had a huge impact the last 5 years and will definitely evolve the insurance of the future.

The area where technology probably will have the most impact is on motor insurance. Using a GPS to show the way home, is now a general feature on a cellphone. Nowadays GPS devices are installed in the vehicle itself, relaying a lot of data back to the insurer.

This data is captured by the insurer and used to determine the actual risk, compared to the potential risk used in the past. Not only can this data be used to calculate premiums, but it can also be used to administer claims.

Data such as speed, whereabouts, stop/start, velocity during corners can now easily help the insurer to determine whether the driver is responsible for a claim or not.

The manner of your driving will now help to determine your premium and in future will most likely be more relevant than your age.

The safety aspect of these technologies should also be mentioned, knowing where your vehicle is, and receiving notification if it should go beyond a certain radius can be very helpful.

I have no doubt that technology will play a huge part in the future of insurance and will change insurance as we know it today.
Make sure that your insurance broker embraces change and keeps up to date with the latest technology and innovations in the insurance industry to ensure that you get the best service at the lowest rate.

(Disclaimer: All information above is the opinion of the author and should in no way be seen as a prediction of the future. Viakor Veertien Edms. Bpk. trading as Boshoff Visser Finansiële Dienste Edms. Bpk. is a registered financial services provider. FSP license no 11968.)
08:30 (GMT+2), Thu, 19 April 2012
Your Comments...
 
Login or Register here.
*To REGISTER you will be directed to the registration page. Once you have completed the registration process, please return to this page.

Weather

Currencies

US Dollar
Pound Sterling
Euro
Australian Dollar
New Zealand Dollar
Canadian Dollar
UAE Dirham
Singapore Dollar
Chinese Yuan

Moon Cycle

CURRENT MOON

Horoscopes

Movie Trailers

When a university fraternity of male students moves into the neighbourhood,...
When his late mother appears in a vision and tells him to go to Bucharest,...
A growing nation of genetically evolved apes led by Caesar is threatened by...
New York writer Michael (Liam Neeson) has recently split with his wife. His...
After a bad blind date, a man and woman find themselves stuck together at a...

Games

Air hockey is one of everyone's favorite challenges! Represent your...
This is the most advanced edition of the popular online version of Pool...
In this Digital Domino Game all the rules are the same as the real game....
The classic mind-wracking math puzzle game is now online! With a brad new...
Voting Poll
Residents from Powertown had to make due without any toilets after their buckets weren't cleaned by the contract worker of the Mossel Bay Municipality. The municipality said that this could not be done because of the protests in KwaNonqaba. The contractor could not pick his workers up in the KwaNonqaba area. Do you think another plan could have been made?
YES: How would you cope with a full toilet? They could have asked another contractor from another area to help out the residents from Powertown.
Mossel Bay Advertiser 24%
NO: If the workers could not be picked up from the protesting area, it's not the contractor's fault.
Mossel Bay Advertiser 76%
Men
Women
Search
I'm a 43 year old man looking to meet women between the ages of 28 and 42.
I'm a 53 year old man looking to meet women between the ages of 28 and 45.