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Secrets InsurTechs Can Learn From the Auto Insurance Industry's Telematics Experience

The insurance sector is becoming more innovative. Various initiatives and projects launched around the globe are proof of that: from the classic call for ideas and corporate venture capital to innovation labs and accelerators that involve the largest insurance companies. According to LTP's research, InsurTech—which involves rethinking one or more steps of the insurance value chain through the use of technology—received $2.5 billion in funding in 2015.

The Italian insurance sector represents an interesting case history about InsurTech. Italy has the most advanced experience in combining the car insurance contract with hardware (the black box) and using that data throughout the insurance value chain. According to the Bain Telematics, Connected Insurance & Innovation Observ ...

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