Keeping insurance costs down has become increasingly important in the trucking industry. The prospect of connectivity, telematics and IoT in commercial transportation brings some promise to the industry, making potential rate discounts even more attractive.
New vehicles now routinely include embedded connectivity and sensors throughout them. For traditional auto insurers that can tap into the data and those that seek to grow adjacent revenue streams, the insights delivered by analyzing this data hold the promise of creating a dynamic, data-driven insurance alternative to traditional static risk tables.
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