## 5 Discussion
### Insurance  
In our research, we have described the limitations and restrictions that will affect the introduction of bespoke insurance products. Within the EU, legislation on the requirement of embedded telematic devices in new vehicles will come into effect by 2024. Insurers will not automatically have access to telematic devices and processing and transmitting substantial amounts of telematic data will be costly, in some cases as much as GBP 46.27 per 50 GB. Restricted access to geolocation data will additionally limit the capabilities of accurately detecting fraud and driver behaviors. The restriction of access to data and the requirement of host processing introduces additional operational costs to providing \begin{table}
\begin{tabular}{c c c c c} \hline
**Telematic Constraint** & **Application of Telematics** & **Limitation** & **Cost** & **Reference** \\ \hline \multirow{2}{*}{Technical} & Communication & DRSC & High Latency & [43; 44] \\  & Battery Monitoring System & Model Based (EM, ECM, EIM) & Inaccurate & [40] \\  & \begin{tabular}{c} Machine Learning \\ Current Memory 15 MB \\ \end{tabular} & Data requirements & [41] \\ \hline \multirow{2}{*}{Regulatory} & Embedded Telematics & ePrivacy & Restricted Data Access & [47] \\  & \begin{tabular}{c} GDPR \\ Ability to delete data \\ Profile Management \\ \end{tabular} & - & [48] \\  & \
\begin{tabular}{c} Host Vehicle Processing \\ Third Party Processing \\ Limited Access \\ \end{tabular} &
\begin{tabular}{c} Host processing \\ - \\ Driver Behavior \\ Fraud Detection \\ \end{tabular} & [51] \\ \hline \end{tabular}
\end{table} 
Table 1: Summary of Technical/Regulatory Limitations. bespoke insurance products. These costs can be significant for some insurers, and they may be forced to either leave the UBI market or amalgamate services. Insurers will need to seek alternative procedures to accurately detect fraudulent behaviors and offer bespoke insurance products effectively. Procedures such as privacy-by-design [67] or utilising blockchain-based data privacy technologies [68,69] can assist in privacy preservation during the data collection process. Insurers are likely to consolidate and collaborate with other insurers to lobby legislators, to seek additional data processing privileges. Geolocation data access needs to be addressed as it is imperative to model driving behavior and detecting fraud. Popular methods, such as k-anonymity or location obfuscation, can be employed to mask a policyholder's location, preserving their right to anonymity [70,71]. These methods can give an insurer a general idea of location for fraud detection, driver behavior analysis and real-time tailored risk classification depending on the area, (e.g., city driving compared to driving in rural areas). Although, changing the underlying data processing and collection procedures may cause initial significant infrastructure and financial cost, the reward of increased data access may alleviate these overheads. Embedded telematic devices differ by manufacturing standards and requirements. The non-standardization of these devices may lead to compatibility issues or obsolescence of the device, causing issues with delivery of bespoke insurance products [9]. Insurers will need to communicate with multiple manufacturers to ensure that the networking, storage, and processing capabilities of the embedded telematics devices meets their minimum requirements. Insurers will need to decide collectively what minimum processing and transmission requirements are needed to offer bespoke insurance products. Since third-party vehicle insurance is mandatory, regulation on the minimum requirements for embedded telematic devices should be considered by national governments. Efforts have already been made by OEMs to standardize their communication and data access requirements through Extended Vehicle Data architecture [72]. However, legislators and insurers should be careful as this leaves OEMs with a privileged market position [60].