Black Boxes Could Yield Gold in Connected Insurance

Gritty, intoxicating Naples—renowned for pizza margherita, football magician Diego Maradona and … connected insurance? Indeed, Napoli has become a proving ground for one of the most promising technology-related opportunities in insurance: the use of sensors for collecting, transmitting and analyzing data on the status of an insured risk. Connected insurance is starting to pay off for carriers, and they have made the greatest progress in Italy. Consider the following estimates by Bain & Company’s Observatory on Telematics, Connected Insurance & Innovation, a collaboration with the Italian National Association of Insurance Companies (ANIA)