Artificial Intelligence & Machine Learning

Real-Time Data From Connected Vehicles Is Reshaping Insurance

Sumit Chauhan of CerebrumX on Benefits of Usage-Based Insurance
Sumit Chauhan, co-founder and COO, CerebrumX

An exponential surge in connected vehicles, coupled with economic factors, is reshaping the automotive insurance sector. By leveraging AI and IoT technologies, driving behavior insights and real-time data are now shaping personalized insurance through usage-based insurance, UBI.

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This benefits customers through reduced premiums and provides insurers competitive edge in a market grappling with rising rates. The transformative power of UBI arises from expanded data sets due to the surge in connected vehicles, improved AI/ML algorithms and heightened real-time insights capabilities.

Standard connected vehicles capture around 300 parameters per second, while electric vehicles gather up to 1200, said Sumit Chauhan, co-founder and COO of CerebrumX. "This allows real-time analysis of driving behavior, collisions, acceleration, lane departure and weather conditions. These insights empower insurers to customize policies using UBI, where premium pricing is shaped by individual driving habits," he said.

In this interview with ISMG, Chauhan also discussed:

  • Connected cars driving usage-based insurance;
  • Impact of generative AI in automotive industry;
  • Data security and privacy challenges.

Chauhan has more than 24 years of experience in automotive, IoT, telecom and healthcare verticals. Prior to co-founding CerebrumX, he worked at Harman International, Nokia Siemens Network and Symphony Teleca.

About the Author

Shipra Malhotra

Shipra Malhotra

Managing Editor, ISMG

Malhotra has more than two decades of experience in technology journalism and public relations. She writes about enterprise technology and security-related issues and has worked at, Dataquest and The Indian Express.

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