Posted on 1/30/2017 8:00 AM By Keith Savino
It resembles a scene that you would watch as a kid on “Leave it to Beaver”. Young boy enters bathroom and picks up his toothbrush to clean his teeth. Suddenly his mother emerges from the kitchen and chastises him, “I know that you only brushed for 1 minute. You need to brush for 2 minutes every time.” He wonders if his mother has eyes in the back of her head, but what he doesn’t realize is that his toothbrush is equipped with Telematics. It is not just his mother that is watching him.
The Telematics that is used in the toothbrush is the technology of “sending, receiving and storing information via telecommunication devices in conjunction with effecting control on remote objects.” It is sort of a modern day, “Big Brother is Watching You” from the novel “1984.” Installing small computer chips in objects to send information back to a company to gauge usage.
Cars have been equipped with this technology for years (conside ...
Posted on 1/18/2016 8:00 AM By Keith Savino
Many insurance companies are asking policyholders to install sensors in their automobiles in order to gauge their driving abilities. A device provided by car insurance carriers plugs into the auto’s data port, downloads onto a smartphone via a mobile app or can be utilized through onboard communications systems such as Onstar. The device collects information on mileage, braking, turns, acceleration, and what time of day the car is being used. The device, (called a “Telematic”) transmits the data to the company, which uses it to rate drivers. Traditionally, companies have gauged liability and risk based on parameters of socio-economic demographics, accident history, claims history, payment history and credit score. But Telematics supplies real data on the client, which can prove to be benefit to the policyholder’s insurance premium or reward customers with points that can be redeemed for gifts.
There are advantages and disadvantages to installing a “Telematic” in your au ...