With the recent surge in interest for telematicts technology, disputes have begun to emerge over the ownership of the data the devices produce.
To nip the issue in the bud, the Association of British Insurers (ABI) has begun an investigation into the legal concerns of the ownership of the data telematics devices produce. The are arguments for the insurer, broker, customer, car manufacturer and telematics providor, causing much debate.
The ABI has started their investigation to avoid these debates escalating into costly legal cases.
A spokesman for the ABI told Insurance Day, “there will almost certainly be issues around different items of data which are judged sensitive and those which perhaps aren’t. Data protection law can be complex, so we need to navigate it carefully.”
According to Insurance Day, the spokesman said it was unlikely that the data used in telematics would become standardised. However, the ABI is investigating whether there could be an industry-standard minimum data set.
“We will assist our members in those areas where we can work collectively, mindful of the strict competition rules on that co-operation. Many insurers are well advanced with their plans, and our aim as ever is to encourage a competitive market while helping our members to understand the common issues, such as data ownership. Guidance would be limited to those areas, rather than for pricing or underwriting,” the spokesman said.