The leading expert in the insurance sector, Jacobo Bazbaz Sacal explains us some relevant aspects about telematics.

“With more data coming from more sources and on more devices, there has never been a better time to be an insurance technician”— Jacobo Bazbaz Sacal

MIAMI, FLORIDA, UNITED STATES, December 28, 2022/ EINPresswire.com / -- Telematics is a subset of the broader field of risk management. Risk management is concerned with identifying, assessing, monitoring, and mitigating risks to help organizations run more effectively and efficiently by reducing waste and risk and the risk of loss through fraud, error, and mismanagement. The use of telematics technologies in risk management is becoming increasingly important to help organizations identify, measure, and manage risks to improve the efficiency of their operations and protect their assets against loss.
In this article, we will see what telematics is; its applications in risk management; examples of where it is successful; challenges when using telematics technologies in risk management; practical strategies for integrating telematics into a risk management program; how an organization—regardless of its size or budget—can start using telematics today to improve operational efficiency and reduce costs from lost assets.

What is insurance technology?
The insurance industry is one of the most regulated in the world. It plays a vital role in all aspects of society, from the security of individuals, families, and businesses, to the efficiency and integrity of the financial system. Every day, insurance companies help ensure the safety of citizens and their assets, whether it is a car to go shopping with the family, a fire extinguisher in the kitchen, or the funds to send a child to university. To do that job effectively and efficiently, insurers need to know more about their customers and their claims. That’s where insurance technology comes in. Insurance technology professionals are tasked with helping to collect, analyzing, and managing sensor data to optimize operations through technology.

“This includes wearable sensors that record parameters such as heart rate and steps taken or distance traveled, and sensors attached to vehicles and buildings to collect usage data,” emphasizes Jacobo Bazbaz.
Remarks
Telematics is a subset of the broader field of risk management. Risk management is concerned with identifying, assessing, monitoring, and mitigating risks to help organizations run more effectively and efficiently by reducing waste and risk and the risk of loss through fraud, error, and mismanagement. There are many opportunities for insurance technology professionals to help insurers reduce risk and loss and for the insurance industry to adopt more cost-effective technology solutions.
“With more data coming from more sources and on more devices, there has never been a better time to be an insurance technician,” concludes Jacobo Bazbaz

Antonio Lopez
Marketing and Advertising Technologies
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