Verizon Chasing Insurance Telematics Gold

Verizon Enterprise Solutions wants to put insurance companies in the driving seat when it comes to selling advanced in-car services to users, but may be facing an uphill battle to convince the industry to go its way. Speaking at last week’s Insurance Telematics event in Chicago, George Ayers, VP of global sales for Verizon Telematics, said that offering services such as automatic roadside assistance, vehicle location, driving diagnostics, geo-fencing, and automated maintenance enables insurers to develop deeper and more positive relationships with their customers. By contrast, Ayers said, UBI is just another form of price competition, in which insurance companies use telematics devices installed in vehicles — often temporarily — to deliver insurance price cuts to safer drivers.