Insights from Honda: How to Effectively Utilize Driver Data
The auto insurance industry is experiencing its most seismic shift since it began more than 100 years ago. Ahead of the Connected Vehicle Insurance Summit, we spoke with Aparajithan Rajendran, Solutions Architect, Next Generation Telematics at Honda to hear his thoughts on operationalizing data to increase tactical level solutions, establishing a UBI program, the future of car insurance, and much more.
"This topic deserves a presentation by itself. In general, data can be utilized as efficiently as it is operationalized. Mostly, such data is qualified as Big data. It needs to go through a process of cleansing, extraction, transformation, etc. Driver’s data educates us about the driving pattern, vehicle usage, vehicle health, & the direct association between the driving style and vehicle health, etc. Depending on our LOB & AOIs, we could utilize this data to achieve better customer awareness, vehicle-parts durability which can be translated into economic benefits for both customer & the company."