"Insurance consumers expect a certain level of personalization from insurance carriers that the latter can offer only once they have individualized personal data. This is one of the aspects where technology becomes a key enabler. This is also in the core, in the essence of what a model does. However, technology capability goes well beyond that, enabling process automation and many other benefits for the motor insurance business," ha explained, thus concluding that currently technology is, undoubtedly, a game changer in motor insurance.
In the interview, MUMZIEV also speaks about the changing driving habits and their potential impact on the underwriting process, as well as the large possibilities that Usage-Based products offer for the fair treatment of customers, according to how much and how prudent they are driving. Usefulness, adequacy, attractiveness of telematics in different markets, according to local conditions and culture is also a topic touched in the interview, along examples of successful implementations in the region.
The interview hosted by the XPRIMM TIME FOR BUSINESS International show is now LIVE on the XPRIMM YouTube Channel.