By Paul-André Savoie
If you drive a vehicle, you have no choice but to pay insurance for it. And depending on an individual’s age and where they live, these rates could go up or down. But shouldn’t premiums be based on how a person actually drives?
The insurance industry is in the midst of a transformation, and technology trends like telematics is one of the factors responsible for this change.
Telematics is the convergence of wireless telecommunications technology and informatics. Using real-time analytics from sensors, information about certain events can help companies in the automotive, telecommunications and industries characterize their products and create competitive advantage.
For insurance providers, telematics can help enhance customer insight and increase risk segmentation to create personalized rates and discounts for safe driving.
Baseline Telematics designs property and casual as well as usage-based insurance solutions for insurers worldwide. Underpinned by SoftLayer’s cloud infrastructure, Baseline’s “Pay-As-You-Drive” telematics insurance platform helps insurers differentiate their products in increasingly competitive markets using high-tech solutions that allow them to act more effectively and with greater accuracy.
With billions or trillions of transactions handled every day, robust infrastructures and immediate access to information is critical. Insurance organizations are among the increasingly large enterprises that are looking at adopting hybrid cloud environments to integrate their existing technology investments with new workloads in the cloud driven by the rise of big data, mobile and social.
To deliver the global cloud infrastructure required to run its insurance applications, Baseline turned to IBM. Now, we can offer insurance solutions with the speed and efficiency demanded by today’s enterprises by way of business transformation.
These advances help us provide customers with identical, local and customer-specific deployments, regardless of location. Working with IBM allows Baseline to adopt new technologies that innovate the insurance industry to better serve clients and accelerate business success.