AI understands when you are a reckless driver, or on the other hand if you are careful, and respect the highway laws. If you are among those good drivers you can save on your insurance policy.

This is a new advance in insurance. It is supported by algorithms that calculate the percentage of risk. This can be a real advantage for you and me.

But it will not depend only on how you drive. To get better prices you will also need to change how you think about this technology.

You will have to accept AI is not a threat to your freedom, it is not spying, it will keep your data and lifestyle updated, just like a good friend.

Let me explain exactly what I mean by this.

I am informing you, I repeat, there is a revolutionary change in the world of insurance right around the corner. Not only car insurance, but also home insurance, your business, and other items we own.

YOUNG PEOPLE WILL NO LONGER BE DISCRIMINATED

Why do I say that young people will also benefit from this innovation?

Because they are usually the most affected. There is the prejudice that when you have little experience, you are prone to have more accidents.

Now, what happens when your insurance policy is based on Artificial Intelligence?

There will be reasonable insurance for everyone.

“Because it will be based on algorithms, not on assumptions and statistics.”

Let me be clear. There is a big difference in the way policies are decided now. In the near future it will be evaluated:

“On the basis of something that is measured on real and continuously updated data. Using this information the insurance premium will be adjusted. “

So, when when you are a new driver going to your agent to create a policy, this will no longer happen: he opens the computer, enters your personal data, and the system has already rated the insurance policy.

” What will happen instead, is an algorithm will follow all your movements through a type of onboard computer in your car. ”

Starting the first few weeks, it will evaluate whether you follow the speed limits, if you brake sharply, if you stay in your lane and if you act recklessly.

Your policy will be based on all this information that is calculated.

So a lot more data will be translated by AI, based on your driving habits:

Good Motorist Mediocre Motorist Dangerous Motorist

Obviously, the idea is to merge information.

Right now, the only statistics that agencies have are the number of accidents by age, class, and location.

Basically, if you are a good motorist and live in a sketchier part of the city, you pay more for the other aspects of the policy.