IOT comes as a boon to the car insurance industry

IoT for car

In near future, all the big motor insurance companies will be using car OBD GPS technology to inculcate good driving behavior among individuals across Russia. According to a study, people give consent to insurance companies to keep a check on their driving habit. Telematic devices installed in cars can track numerous factors that go into insurance models. These devices can track GPS, braking levels, airbag deployment, speeding etc. Insurance providers can not only see how many miles you have driven, but they can also gain insight into how well you drive.

GPS technology will make many IoT systems collect more data from more users in real time. Instead of relying on past driver behavior, providers can look at current driver behavior of a specific individual.

Inculcate GPS OBD into your Insurance Model

Car insurance witnessing major breakthroughs into the technology and innovation. However, the main challenge here is unawareness among people about the very concept of GPS OBD insurance. Let us not ignore the broad scope this gives in terms of safe driving habits, accurate monitoring and so on.

Fewer Fraudulent Claims

Frauds in insurance are very common, which can be taken care of by GPS OBD insurance. Some of the frauds that happen very frequently are:

  • Stolen Car- There are two ways that criminals perpetrate the stolen car insurance fraud scam. The first type of stolen car fraud is when a car owner sells his car to a body shop to be cut up for parts and then reports the car as stolen.
  • Car Accident- A car accident could be an insurance fraud. In some cases, the driver and accident victim are the only ones in on the scheme.
  • Car Damage- Any form of insurance fraud is illegal and damaging to the insurance company. Some people will report a small car accident, get an estimate for damages, collect the insurance check. This is the most common form of auto insurance fraud. 

Insurance for Fleet cars

ThinkRace Technology will help you with best GPS trackers for car to evaluate behaviors displayed by multiple drivers in multiple places. Factors such as speeding, braking, over speeding are taken care of. The procedure for this is quite simple. A GPS OBD is issued by the insurance company that helps keep a track of the data. This data consequently reported back to the insurance company. If your business has multiple cars, insuring them with a single provider can bring a lot of benefits.

ThinkRace Technology’s best Car GPS OBD technology is the best you can get in the market. The benefits that this technology provides are too good to pass by. Car insurance companies are opting for GPS OBD technology to provide insurance that is fair in every way possible.