Tag

Telematics

All articles tagged with #telematics

automotivetech1 year ago•2 min saved

"Automakers Secretly Transmitting Driving Data to Insurance Companies, Raising Privacy Concerns"

Modern connected cars with built-in telematics are sharing owners' driving habits and statistics with insurance companies, often without the owners' knowledge. Data brokers like LexisNexis and Verisk receive detailed reports from automakers, including trip details, driving behavior, and more. Some car owners have seen their insurance rates increase due to this data sharing, while others may unknowingly be enrolled in behavior-based insurance programs. Concerns about data privacy and transparency have been raised, prompting President Biden to order an investigation into potential security risks posed by Chinese connected vehicles.

via TechSpot|

#automotivetech #car-technology #connected-cars

personal-finance2 years ago•6 min saved

Drivers Embrace Intrusive Monitoring Tech to Cut Insurance Costs

As auto insurance premiums continue to rise, drivers are considering usage-based car insurance programs that offer discounts in exchange for sharing driving data with their insurers. These programs monitor data related to driving behavior, such as hard braking, sharp turns, and phone usage while driving. While proponents argue that it can be a win-win for customers and insurers, critics raise concerns about privacy and potential drawbacks, such as the technology's limitations and the possibility of paying more for insurance. The share of auto insurance customers participating in these programs has doubled since 2016, indicating continued interest and growth in the market.

via Money|

#auto-insurance #cost-savings #personal-finance

technology2 years ago•3 min saved

NHTSA Tells Automakers to Disregard Massachusetts' Right to Repair Law

The fight over the right to repair cars has taken a new turn as automakers argue that giving wider access to car data is dangerous. Massachusetts voters passed a ballot measure approving the updated right to repair, requiring automakers to add an onboard port that allowed anyone with a cheap tool to access a car’s data. However, the auto industry and the US Department of Transportation believe that open systems are inherently dangerous, creating security risks. The conflict has led to practical fallout in Massachusetts, with Kia and Subaru cutting off access to their telematics systems for new car buyers living in the state.

via WIRED|

#automakers #data-privacy #massachusetts

automotive2 years ago•4 min saved

US Government Urges Car Manufacturers to Ignore State Right-to-Repair Laws

The National Highway Traffic Safety Administration (NHTSA) has told car manufacturers to disregard Massachusetts' voter-approved "Right to Repair" law, citing "significant safety concerns." The law requires manufacturers to equip vehicles that use telematics systems with a standardized open access data platform, allowing vehicle owners and independent shops to access the data. However, the NHTSA claims the law conflicts with a federal law known as the Safety Act and could open pathways for malicious actors to create dangerous situations.

via WCVB Boston|

#automotive #massachusetts #nhtsa

technology2 years ago•2 min saved

US Government Directs Car Manufacturers to Disregard Right-to-Repair Legislation

The Biden administration has instructed car manufacturers not to comply with a Massachusetts state law that would allow independent auto shops and car owners to fix their own vehicles. The law, known as the Data Access Law, grants open access to a car's telematics, which the National Highway Traffic Safety Administration (NHTSA) argues could be hacked by a "malicious actor" to remotely command a car, leading to vehicle crashes, passenger injuries, or death. The NHTSA has reminded car manufacturers of their commitment to vehicle and passenger safety under the National Highway Traffic Safety Act, essentially instructing them to ignore the Data Access Law.

via Yahoo News|

#biden-administration #car-manufacturers #hacking

automotive2 years ago•2 min saved

US Government Warns Automakers Against Complying with Massachusetts Right-to-Repair Law

The National Highway Traffic Safety Administration (NHTSA) has advised automakers not to comply with Massachusetts' "right to repair" law, which requires open access to telematics services. NHTSA argues that the law's requirements create a safety problem, allowing someone to remotely command vehicles to operate dangerously. The automakers may respond by disabling telematics and connected services for customers in the state. A bipartisan automotive right to repair law is working its way through Congress, acknowledging cybersecurity risks and requiring NHTSA to develop data access standards for connected vehicles.

via Ars Technica|

#automotive #connected-cars #cybersecurity

finance2 years ago•4 min saved

The Reasons Behind Rising Car Insurance Rates.

Auto insurance rates have risen by nearly 15% in some states over the past year, with nationwide premiums increasing by an average of $240 to $2,014 a year, according to Bankrate. U.S. rates are expected to rise by an additional 8.4% in 2023, which would outpace current inflation at 4.9%, according to ValuePenguin. The rising insurance costs come as consumers are struggling financially after nearly three years of high inflation and surging car prices. Some options to consider for lowering your car insurance bill are shopping around, bundling policies, asking for discounts, and using telematics.

via USA TODAY|

#auto-insurance #consumer-tips #discounts

business2 years ago•3 min saved

"Warren Buffett's Diverse Investment Strategies Yield Success Amid Turmoil"

Berkshire Hathaway's annual shareholder meeting will focus on Geico, the auto insurer once called Warren Buffett's "favorite child," which has lost market share to its competitor Progressive and suffered a $1.9 billion pre-tax underwriting loss in 2022. Geico's underperformance is attributed to its lack of involvement in telematics until recently, according to Ajit Jain, Berkshire's vice chairman of insurance operations. Despite Geico's struggles, Berkshire Hathaway has been outperforming the broader market, with its diverse businesses and strong balance sheet providing downside protection.

via CNBC|

#berkshire-hathaway #business #geico