期刊
JOURNAL OF INSURANCE ISSUES
卷 44, 期 2, 页码 1-30出版社
WESTERN RISK & INSURANCE ASSOC
关键词
Pay-as-you-drive (PAYD); automobile insurance; telematics
This study explores the critical factors and managerial suggestions for introducing PAYD insurance in Taiwan. Results indicate that the car dealership industry is likely to lead the market, with telematics companies playing a niche role in promotional efforts. A new system integrator is needed in Taiwan's PAYD insurance business ecosystem, and telematics services can provide added value to customers and service providers through integration into the Omni-Channel model.
Large insurance companies are moving toward the use of advanced technologies such as telematics to develop fair and transparent pay-as-you-drive (PAYD) automobile insurance. The opinions of expert service providers are essential and valuable to these insurers, helping them avoid or control any risks associated with entering a new market. Therefore, this study explores the critical factors involved in introducing and promoting the PAYD insurance system in Taiwan. We consider the telematics business ecosystem of Taiwan's vehicle insurance market to construct partnerships that support managerial suggestions for promoting PAYD insurance in Taiwan. Relevant data are extracted from automobile insurance and telematics literature and from interviews with experts in the telematics and insurance industries in Taiwan to understand their perspectives. We present 15 key factors required for introducing PAYD in Taiwan and several managerial suggestions. Results reveal that the car dealership industry is the most likely leader of the PAYD insurance market in Taiwan and that telematics companies are niche players involved in promotional efforts. According to this study's findings, the business ecosystem of PAYD insurance in Taiwan requires new system integrators. Telematics services can be integrated into the Omni-Channel model and yield additional value to customers and service providers.
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