Product Analysis and Evaluation (Draft 2)
Pursuant to Matheson (2016), a driving analytics mobile app named Drivewell, which was developed by Cambridge Mobile Telematics (CMT), promotes safe driving habits on the road. This app is designed to identify, record, and analyse behavioral patterns of drivers, which includes cornering, hard braking, and phone utilization during driving. Using sensor technology installed in phones, location data, route synchronisation, and driving performance feedback can be garnered. These raw data is thereafter processed by algorithms expertly developed to map out the standards of data to match safety requirements. Finally, the results are converted to incentives through the scoreboard ranking. Insurance companies can incentivize excellent drivers with monetary rewards. Drivewell has managed to secure its unique product positioning in the niche telematics market despite the emergence of competitors, through constant enhancement and evaluation across pilot programs (Beauchamp, 2017). Insurance c...