The Future of Telematics; Factory Fitted, AI-Smart & Your Breakdown Service

Insurers are surrounded by customer data, but it's how you sift the wheat from the chaff that counts.

What does the future hold for vehicle telematics, as we move towards semi-autonomous cars? Adam Gooch, Commercial Director at ITS Telematics Solutions offers some useful insights.

With global digital transformation, the expansion of AI, and the Internet of Things, this decade is set to see huge advances in the automotive industry and the way we use and manage data from vehicles. Tesla recently became the most valuable car company in the US, which certainly marks a new dawn for the motoring sector. There is plenty of room for exciting developments over the next 10 years and beyond, so I have highlighted my top five predictions set to change the telematics industry this decade.

Every new car will have a device fitted as standard.

As automotive companies look at new ways to expand their offering and services to attract a wider customer base, more and more are building telematics technology into the blueprint of their new vehicles – effectively making the car a device in itself. Whilst many new vehicles have this already, the data being captured differs in quality. This is where ITS sees a real step change in the future.

As telematics becomes a standard fit, the need to manage the data from these vehicles will become hugely important, allowing car companies to offer many additional services and even targeted marketing to their customer base.

Telematics code will become universal as the market consolidates.

As telematics grows in popularity, so does the number of devices and providers. For companies and customers to benefit from this technology, the data needs to be easily manageable and actionable.

We have pre-empted this growing demand for telematics data management by launching our ITS Hub. It allows organisations using telematics to ‘plug in’ devices from multiple providers. The Hub is then capable of converting the resulting data into a single common data format, making it universal and tailoring it to each business’ specific needs – all from one central operating system.

Data from vehicles will be used for a lot more than vehicle/driver management, as general consumer attitudes also change towards the acceptance of data in modern life.

In general, people are more comfortable with the idea surrounding ‘data’ nowadays. We accept that iPhones are used as tracking devises, for example. But I think that in the coming years this will continue to evolve as the public becomes more and more conscious of its data output and becomes accustomed to it being collected by the relevant authorities / companies. People will become more comfortable with the benefits that this provides as a result – increased convenience when making purchases, faster queue jumps, more relevant marketing aimed in their direction, etc.

Specifically in our industry, there is now an abundance of data from telematics devices that can be used across multiple industries in addition to insurance or fleet management purposes. For example data could be used for targeted marketing projects to promote businesses such as garages, car repair outlets and even companies in retail. Telematics data can be used to help determine when a car needs new tyres and can also find a garage appropriate for individual drivers based on their locational driving data.

The world will be continuing to focus on autonomous vehicles.

With the widespread anticipation of driverless cars, the reality of fully autonomous vehicles is getting ever closer. Whether the decade will see them

taking to the roads is hard to say – and the answer varies wildly depending on who you ask. But one thing is for sure, the idea of fully autonomous cars isn’t going anywhere. This decade we are likely to see more and more companies testing their own versions of such vehicles. They have the potential to solve many problems with driving in the present day, but telematics data and advancements are leading the way in helping to make this a viable option.

About alastair walker (3120 Articles)
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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