1 The I in Experience 2 3 4 5 Leaders that explore new avenues to include customer agency today will be laying the foundation for long-term success. Insurance products and services are gradually becoming more interactive, As of late 2018, there were about 11 million telematics-enabled insurance seamless and personalized as carriers use new digital interfaces in cars, policies in place out of roughly 200 million insured automobiles in the US, 11 homes, personal devices and workplaces to transform their relationships according to the Insurance Information Institute (III). Progressive, one of with customers. Some 77 percent of insurance executives in the 2020 the pioneers, has logged more than 25 billion miles through its Snapshot 12 Technology Vision survey agree that organizations need to dramatically program. Extending UBI to bus and truck fleets has helped Progressive to reengineer the experiences that bring technology and people together grow its net written premium in commercial auto from $1.9 billion in 2014 13 in a more human-centric manner. to $4.4 billion in 2019. Take the rise of vehicle telematics and usage-based insurance (UBI) in Not only are more carriers offering UBI policies; their products and markets such as the US and Italy as an example. This segment of the services are becoming more sophisticated. Beyond using smartphone auto insurance market is steadily growing from a niche product into sensors and a beacon device fitted to the vehicle to detect hard braking, the mainstream. With GEICO in 2019 joining the ranks of insurers using excessive speed, harsh acceleration and hard cornering, some telematics- telematics to track and improve driver behavior, the 10 largest carriers driven insurance solutions also offer variable monthly premiums 10 in the US now offer a UBI program. depending on how often and well you drive, including whether 14 you’re a focused or distracted driver. 14 Technology Vision for Insurance 2020 | We, the Post-Digital People