Allstate is being sued by Texas over its attempt to use its app to monitor customer driving behavior. It always surprises me that carriers spend so much time chasing expensive and risky data after they have assumed a risk rather than gathering the far more impactful behavioral data available for free at application or endorsement. Excess risk found after a policy is written is interesting but not directly actionable. Excess risk identified at POS is extremely valuable. We believe that successful carriers need to use technology to detect risk issues and engage with their customers during risk transactions to eliminate excess risk conditions and renew low risk customers.
Or they can spend their time in court.
We’re VeracityID, we let you detect eliminate unmeasured risk before you bind a policy. Without IT’s intervention.
