Future Automotive InsuranceSystembased on Telematics Technology

Withtheproliferation ofvehicles andadvancement ofInformation Technology, thetechnology ofTelematics, which provides valuable services topeople bycollecting andanalyzing the information from drivers, vehicles and Telematics environments (e.g. traffic information, roadcondition, weather information, etc.), hasbeena hotresearch areainIT and automotive recently. ThereareneedsforTelematics makesmore profitable. Telematics basedinsurance services couldbeone possible business model.Inthispaper, we haveinvestigated trends ofTelematics basedinsurance services intheindustry and discussed required technologies forTelematics basedinsurance services. Finally, we summarized theframework forinsurance Telematics whichwehaddeveloped.