Location data: How TomTom powers insurance with risk and pricing
Before the advent of embedded screens in almost all vehicles there used to be accessories to help navigate and guide your trips and often it was a TomTom device. This episode features Vinod Poomalai the Product Marketing Leader for TomTom talking about how their location data is powering aspects of many insurance products and services.
In this episode:
- How location data is driving underwriting decisions
- What is contained in location data that is not readily apparent
- How any insurance entity can connect with APIs for real-time processes
- Why location data is helping with CAT events and loss reduction
- Learn how underwriting subjectivities are being developed using distinct attributes
- How the volume of data sources is growing and what it will help in the future
Using data is essential for insurance success, but powering your data with realtime connectivity and a growing pool of data sources will be absolutely necessary to compete and prosper int he future. Vinod and TomTom share the now and what's coming for the insurance industry with location data.
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