The Future for Insurance Telematics Report: Smart Vehicle Technology
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  • 1. SE IND F LE I N IN CT G SThe Future for Insurance Telematics: ED SI DESmart Vehicle TechnologyMap out a winning insurancetelematics business model totake your products mass-marketUtilize global market research, case studies& key business strategies to capitalize on thenew era of insurance telematicsWWW.TELEMATICSUPDATE.COM/INSURANCEREPORTOPEN NOW FOR YOUR SELECTED FINDINGS FROM THIS GROUND BREAKING REPORT
  • 2. The Future for Insurance Telematics: Smart Vehicle Technology Map out a winning insurance telematics business B U Y TO DAY F O R B I G model to take your products mass-market DISCOUNTS Accessing the insurance market represents the most exciting and lucrative opportunity for technology companies in the telematics space. There is a huge demand for business intelligence on the strategies of car manufacturers and insurance companies as they hold the key to mass market penetration for first and second tier telematics vendors. Insurance applications have the potential to revolutionise our industry. We’re working with telematics and insurance industry experts to bring you the intelligence you need to capitalise on this game-changing opportunity. The Insurance Telematics Report 2011 produced by Telematics Update is your roadmap to understanding the strategies of the key industry players and unlocking the rapidly emerging Insurance Telematics market. The only report focussed exclusively on Insurance Telematics, purchase your copy today and get; The inside track on data, information and strategies from over 20 leading insurers, OEMs, and suppliers Vital information you the products decommissioning business in the GoM following Idle Iron NTL Extensive analysis of need to win and services across the insurance telematics industry including US, Europe [UK, Germany, France, Spain, Italy], Brazil, South Africa, Russia, Japan, and China Comprehensive global market forecasts including device manufacturers and wireless carriers Strategy advice on a winning insurance telematics business model including market segmentation and partnerships Real-life case studies from key insurance telematics pilots and programs Telematics based usage-based insurance [UBI] strategies of major insurance carriers and get their contact details A must read report for decommissioning service providers Tier 1 companies that are looking to directly supply telematics solutions to insurance companies and automotive OEMs Tier 2 companies that supply the Tier 1s Insurance companies and brokerages looking to enter new markets. Report Methodology The authors conducted in-depth interviews with 30 experts and decision makers in the Telematics ecosystem. This was supplemented by a detailed online survey, which received responses from 175 users representative of the insurance telematics value chain. Additional data was gathered using carefully-selected secondary source material. The report was then peer-reviewed by analysts at two leading global management consultancies with long-standing experience of the insurance industry. Turn the page now for the ground breaking selected findings from this report!ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORTF O R M O R E I N F O R M AT I O N CO N TA C T R E P O RT S @ T E L E M AT I C S U P D AT E . CO M
  • 3. The Future for Insurance Telematics: Smart Vehicle Technology Map out a winning insurance telematics business B U Y TO DAY F O R B I G model to take your products mass-market DISCOUNTS Selected comments from over 100 pages of in-depth research 50% “GPS has become a dirty word in our society because of privacy concerns, so you won’t see many products with built-in GPS” of survey participants predict significant insurance telematics Over growth of over comprehensive 100% in 2015 figures Over pages of analysis, Nearly 15% predicted technologies and methods automotive OEMs will control Vital information you need to win decommissioning the insurance telematicsIdle Iron NTL business in the GoM following market by 2015 illustrative photographs tables of new data and findings believe that the most appropriate role for government and regulators in the insurance market is to create a level playing ground Clear text format Includes Privacy and data security issues are a schematic illustrations major concern for insurance telematics end-users and customers “Be transparent and let the customers know $$$ how the data will be used and you won’t BRIC markets represent have a problem. Customers own the data one of the most and should control use by third-parties ” attractive propositions for investment in the futureORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORTF O R M O R E I N F O R M AT I O N CO N TA C T R E P O RT S @ T E L E M AT I C S U P D AT E . CO M
  • 4. The Future for Insurance Telematics: Smart Vehicle Technology Map out a winning insurance telematics business B U Y TO DAY F O R B I G model to take your products mass-market DISCOUNTS Contents EXECUTIVE SUMMARY 6.2.3 Germany 6.2.4 France . INTRODUCTION 6.2.5 Italy 1.1 Scope 6.3 Brazil 1.2 Intended audience 6.4 Russia 1.3 Methodology 6.5 India 1.4 Internet survey and research questions 6.6 China . MARKET OVERVIEW 6.7 Canada 2.1 The state of motor insurance 6.8 Australia and New Zealand 2.2 The global economy and automotive, insurance, and telematics 6.9 South Africa 2.3 Commercial and consumer telematics . CASE STUDIES 2.3.1 Commercial/fleet markets 7.1 Progressive 2.3.2 Personal/consumer telematics 7.2 General Motors OnStar . PRODUCTS AND SERVICES 7.3 Hyundai BlueLink 3.1 Motor insurance 7.4 Sector focus: Teenage drivers 3.2 Insurance telematics: A new paradigm. 7.5 Wunelli 3.3 Insurance telematics products and services: A taxonomy. 7.6 Octo Telematics 3.3.1 Usage-Based Insurance . THE INSURANCE TELEMATICS LANDSCAPE IN 3.3.2 Pay How You Drive (PHYD) and Manage How You Drive (MHYD) . STRATEGIC PARTNERSHIPS 3.3.3 Value-added services . CONCLUSIONS 3.3.4 Customer relationship management . ACKNOWLEDGMENTS . INSURANCE TELEMATICS STAKEHOLDERS Smart Vehicle Technology: The future for Insurance telematics 4.1 Insurers Vital information you need to win decommissioning business in the future forfollowing Idle Iron NTL 4.2 Vehicle OEMs Smart Vehicle Technology: The GoM Insurance telematics 4.3 Telematics Service Providers 4.4 Solution providers LIST OF FIGURES 4.5 Device manufacturers Figure 1: survey demographics 4.6 Governments, regulators, advocates, and first responders Figure 2: what do you think is the most appropriate role for 4.6.1 United States government and/or regulators in the insurance market? 4.6.2 Europe Figure 3: who do you believe will lead/control the insurance 4.6.2.1 Regulation and supervision telematics market by 2015 (all survey respondents)?...12 4.6.2.2 Risk selection and pricing 4.7 Customers Figure 4: which of the following statements best describes your 4.7.1 Commercial/fleet customers perception of how the insurance telematics industry views 4.7.2 Personal/consumer privacy and data security issues (for respondents currently 4.8 ITPS sales fulfillment and device installation monitoring the sector)? 4.8.1 Built-in telematics Figure 5: which of the following statements best describes your 4.8.2 After-market perception of how the insurance telematics industry views privacy and data security issues (for respondents not yet . STRATEGIC ISSUES participating in the sector)? 5.1 Challenges restraining the market Figure 6: US car sales following recovery predictions 5.2 The regulatory environment and lack of harmonization 5.3 Device, technology and installation costs Figure 7: insurance underwriting expense ratio 5.4 Winning business cases Figure 8: ITPS new paradigm – enabling PAYD, PHYD t0 MHYD Figure 9: growth of insurance telematics products services is data . MARKET FORECASTS driven 6.1 US market overview 6.1.1 ITPS market size in the US Figure 10: Smartphone + driving ≠ safety 6.1.1.2 Auto insurance market size Figure 11: adaptive cruise control (early ADAS) the forerunner of 6.1.1.3 Number of devices and revenue Cooperative Safety Systems 6.1.2 US regulatory and state environments Figure 12: value-added features most desired 6.1.2.1 California Figure 13: JD Power and Associates 2009 US automotive emerging 6.1.2.2 Michigan technologies study 6.1.2.3 New York Figure 14: PDN as platform – nav, tra c, UBI and MHYD 6.1.2.4 Texas Figure 15: insurance telematics value chain – data flows 6.1.2.5 Colorado Figure 16: the roles of stakeholders and how they work together 6.1.3 Insurance players 6.1.3.1 Progressive Figure 17: Ford Work Solutions 6.1.3.2 Allstate. Figure 18: personal and commercial insurance distribution channels, 6.1.3.3 AAA direct vs independent agents 6.1.3.4 GMAC Figure 19: new technology adoption rates 6.1.3.5 State Farm Figure 20: consumers want data transparency 6.1.3.6 Geico Figure 21: the dynamics of the market 6.1.4 Device manufacturers Figure 22: value chain alternatives 6.1.5 TSPs and wireless carriers 6.1.5.1 Cross Country/ATX Figure 23: Allstate DriveWise module 6.1.5.2 Hughes Telematics Figure 24: UBI opportunity for US after-market units 6.1.5.3 Wireless carriers Figure 25: ITPS aftermarket device revenue – US after -market 6.2 Europe 6.2.0.2 Market dynamics To see full list of tables visit www.telematicsupdate.com/ 6.2.1 United Kingdom insurancereport 6.2.2 SpainORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORTF O R M O R E I N F O R M AT I O N CO N TA C T R E P O RT S @ T E L E M AT I C S U P D AT E . CO M
  • 5. The Future for Insurance Telematics: Smart Vehicle Technology Map out a winning insurance telematics business B U Y TO DAY F O R B I G model to take your products mass-market DISCOUNTS PURCHASE YOUR COPY TODAY Telematics Update are a business unit of FC Business Intelligence. Format: Secure PDF Telematics Update is the reference Extent: 100 pages point for automotive telematics, mo- bile and web industries and a cornerstone for communica- Release date: May 2011 tions within the industry. We aim to provide you with indus- try focused news, events, reports, updates and information. Price: $1795 Working with you, Telematics Update aims to be the hub of the automotive, mobile & web community enabling dialogue Online: www.elematicsupdate.com/ throughout the industry and driving telematics forward. We insurancereport want you involved - it’s your industry after all - please get in touch if you think we can do even more. Call: X Email: report@telematicsudpate.com Mail: 7-9 Fashion Street, London E1 6PX, UK Vital information you need to win decommissioning business in the GoM following Idle Iron NTL YO U R I N F O R M AT I O N FIRSTNAME: LAST NAME: COMPANY: TELEPHONE: EMAIL: ADDRESS: CITY: STATE/PROVINCE: ZIP/POSTCODE: COUNTRY: REPORT NAME: QUANTITY: FINAL PRICE +VAT: £ DISCOUNT CODE: PAYMENT DETAILS NAME AS IT APPEARS ON CARD : CARD NUMBER: TYPE OF CARD: EXPIRY DATE: SECURITY CODE:ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORTF O R M O R E I N F O R M AT I O N CO N TA C T R E P O RT S @ T E L E M AT I C S U P D AT E . CO M