Tag: Insurance

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Carsharing, the practice of sharing a car for traveling and commuting purposes, has become popular in recent years because it absolves its members from the cost burden associated with vehicle ownership–not least of which is insurance. Rather than requiring members to have their own insurance, carsharing operators provide insurance as... View Article

Through various telematics devices, companies can collect data about how drivers behave behind the wheel. The data helps to understand how often and how harshly they break or accelerate, how fast they drive and how this speed compares with other road users. Putting all this together into a single score helps to measure how well an individual drives and it is this information that the insurer can use to provide additional discounts or other incentives to drivers who perform well. In our interview, Dr. Sam Chapman, Chief Innovation Officer and Co-Founder of a leading Telematics Organization explains how telematics data can support accurate insurance pricing and how it can benefit drivers and the environment.

Nowadays, people are constantly moving around for job reasons and for leisure. The days where people stayed more or less at one place to live and work are gone and changed completely in comparison to how our parents and grandparents lived their life. Still, most of today’s insurance models are from that area and do not take our mobile and modern lifestyle into account. Since there are already new mobility concepts in action, this needs to change soon.

Since Karl Benz and Gottlieb Daimler have invented the automobile, a lot of things have changed. Even if one compares a current average vehicle with a car from the 1970s, today’s cars in some aspects remind us more of how a space ship in 2020 was thought to look like those days. In contrast, the fundamental model of having an owner, a driver and car insurance has not really changed during the last 56 years. In Germany, this structure is completed by the “Halter” of the car, meaning the person who possesses the car and pays the costs of running it – which could for example also be a lessee of the car. Usually, the owner or the “Halter” will pay the insurance fee. In addition, only in very recent days the insurance industry has started to work on new billing structures such as “pay how you drive” tariffs.


Urban Mobility

How are we moving people from point A to point B?
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Mobility plays a major part in the sharing economy. With that said a lot of new risks and needs are created and insurance companies are struggling to meet the needs. In our interview, Achim Hepp, Chief Digital Officer for a startup that works on new and flexible insurance solutions to connect insurance companies and startups, shared his view on this part of the sharing economy.