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IoT Insurance Observatory 2019

Matteo Carbone
Matteo Carbone
Matteo CarboneInsurtech Thought Leader, Keynote speaker and writer on insurance innovation

The think tank membership provides access to the most globally relevant IoT insurance knowledge #IoTinsObs

IoT Insurance Observatory 2019

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2019 Initiative presentation
IoT Insurance Observatory
CONFIDENTIAL
2
The Observatory
Data provided by the Internet of Things represent an extraordinary
opportunity for Insurance Companies and intermediaries
The IoT Insurance Observatory is the first insurance think tank specialized
on the insurance IoT:
• The European Observatory aggregated more than 30 members
Insurers, Reinsurers, and Tech players
• The North American Observatory have already aggregated more than
20 members, including 7 of the top 15 P&C US Insurance Groups
Insurance IoT Observatory is about connecting people and ideas in order
to spread the innovation culture over the insurance market with three
concrete outcomes:
• A global multiclient research
• Three workshops delivered to each member
• Plenary symposiums
3
The current Observatory members
4
The think tank membership provides access to
the most globally relevant insurance IoT knowledge
The most pragmatic
multiclient research
specialized in the insurance
IoT domain based on a
constant observation on the
usage of sensors in different
insurance business lines
around the globe
We interpret best practices
and pitfalls for the members
leveraging an experience
built advising almost 100
different organizations in
more than 15 countries on
IoT insurance project
The knowledge is delivered
through workshops dedicated
one-to-one to each of the
organizations which are
members of the Observatory
and plenary symposiums
both in North America and
Europe
Observer Interpreter Storyteller
5
The last plenary symposiums
June 28th, MilanApril 28th, Milan May 15th, Cincinnati October 1st, Vegas
10:00-10.30 The age of the AI first
insurer - A concrete IoT
home insurance
approach, Pierluigi
Fasano – Swiss Re
10.30-11:00 The innovation of the
auto telematics
services, Alessandra
Girardo - Kubris
11:00-11.45 Auto telematics – A
deep dive on the
“Regolamento sconti
black box”, Riccardo
Cesari - IVASS
11.45-13:00 Demystifying the pricing
IoT-based, Interactive
Workshop
14:00-15.15 Roundtable – Connected
health insurance
opportunities and
challenges
• Matteo Cattaneo,
Reale Group
• Tilde Bove,
Groupama
• Bernardo Rocco,
Salute On Demand
• Andrea Silvello,
Digital Tech
15.15-16 IoT data and customer
profiling in the age of
GDPR, Laura Liguori,
Portolano Cavallo
9.00-10.00 InsurTech Disruption =
(Big Data + IoT) AI
with
a case study for Workers
Compensation – P.
Pasricha, Intellect SEEC
10.00-11.00 IoT data to make
intermediaries great
again – Steve Anderson,
The Anderson Network
& Matteo Carbone
11.00-12.00 The American Modern’s
experience on smart
home - Sudheendra
Galgali, American
Modern Insurance
Group
13.00-13.45 Smart Mobility Program
and LossDetect™ tool –
Mike Scrudato,
Munich Re
13.45-14.30 How to move form
interesting IoT data to
actionable data with real
examples – Nick Leimer,
Microsoft
14.30-15.00 IoT trends and maturity
models – Chuck Ruzicka,
Novarica
15.00-15.20 Make on demand
insurance through IoT
and contextual data –
Matteo Carbone
10:00-10.30 Smartphone-Centric
Telematics Solutions,
Dennis Frawley -
Cambridge Mobile
Telematics
10.30-11.00 Telematics and sharing
economy: what benefits
for car sharing players
and insurers? A. Girardo
– Kubris
11.00-11.30 API Gateways and
Digital Ecosystems,
Giulio Gaioni – Sysdata
11.30-12:00 Technology as key
enabler for new
insurance value
propositions, Alberto
Firpo – Agile Lab
12:00 -13:00 The Munich Re
experience with IoT,
fireside chat with
Andreas Moser –
Munich Re
14:00-14.45 Wearables and the
power to change the life
insurance proposition,
Luc Oudinot - SCOR
14.45-15.30 A shared value
approach to telematics,
Yehuda Hockman -
Discovery Insure
15.30-16:00 New IoT insurance
products & privacy by
design, Laura Liguori -
Portolano Cavallo
9.30-10.30 “A Shared Value
approach to motor
insurance with telematics
as the enabler” – Zaheer
Alli, Discovery Insure
10.30-11.15 “From Design to
Production: Putting
together Data & IoT
technologies to build
successful value cases” -
Fabio Ardossi, Replay
11.15-12.00 “From Connected Homes
to Safe Homes, seizing
the insurer’s
opportunity” – Cecilia
Seviliano, Swiss Re
12.00-12.30 “Using Behavioral Science
and AI to fill the
insurance protection
gap” - John Murray,
Neosurance
13.30-14.30 “The Life Insurance
Industry and Insuretech
are dating…now what?” -
Paul Rivard, Munich Re;
JP Bewley Evo; Jared
Carlson, Assurity
14.30-15.15 “Simplifying IoT
implementations – taking
insurers’ headache away”
– Atanu Sarkar,
ValueMomentum
15.15-16.00 “IoT Ecosystem is driving
change” – Nicholas
Leimer, Microsoft
November 30th, Chicago December 10th, Milan
08.00-08.20 “Pricing IoT based”,
Carbone – IoT Insurance
Observatory
08.20-09:00 “Deep dive on auto
telematics pricing
approaches”, Ross - DRC
Group
09.00-09.40 “Presence of insurers in
the connected life of the
customers”, Carbone –
IoT Insurance
Observatory - and Sarkar
- ValueMomentum
09.40-10.20 “Insurance opportunities
on the IoT Ecosystems”,
Leimer - Microsoft
10.20-10.50 “Workers Compensation
Business and Technology
Trends and the Impact of
Emerging Tech”, Gomez -
Novarica
10.50-11.30 “The usage of IoT data to
reinvent workers’
compensation business”,
Firpo - Agile Lab
11.30-12.00 “Connected Services
@Home: A real
experience from the
market”, Ardossi - Reply
13.00-13.20 “Investing in Insurance
IoT”, Horoviz - HCS
Capital
13.20-14.30 “Life insurance and
wearables: concrete
experiences”, Bewley
and Cabral - Evo
10.00-11.00 Privacy, GDPR and
compliance roundtable,
Liguori – Portolano,
D’Alfonso – Sara
Assicurazioni, Franzoni –
Allianz Worldwide Par-
ners, Cervino -
Groupama
11.00-11.30 3rd Generation
telematics solutions from
CMT, Bowne - CMT
11.30-12.00 How AI can facilitate
automate damage
estimation and bring
efficiency in the Claim
Management Process: a
real project’, Girardo –
Kubris
12.00-12.30 Geodata representation
and Context Information
for the "Smart
Insurance", Nesti – Qmap
12.30-13.00 Smartphone Data and the
Insurance Customer
Lifecycle, Kisvarday -
TrueMotion
14.00-14.30 Service delivery through
smart home insurance,
Mascolo - IMA Assistance
14.30-15.00 Customer Engagement in
Connected Insurance,
Mumdziev – Amodo
15.00-15.30 Mosaic project:
healthcare, wearables
and medical devices,
Procaccini - Maugeri
15.30-15.50 Health Bancassurance
and Insurtech, Surlas –
RGA
15.50-16.00 Wrap-up and
presentation of the 2019
Observatory Edition,
Carbone – IoT Insurance
Observatory
6
The scope of the Observatory is the Insurance IoT
The scope
Any insurance solution based on sensors for collecting data about the state of an insured risk
and telematics for remote transmission and management of the collected data
Some of the
additional focus
for the 2019 edition
Health and life Industrial risks and
workers’ comp
Auto and
motorbike
Home & commercial
property
Extended
warranty
Ecosystems
Intermediary
engagement
Small commercial
Ad

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IoT Insurance Observatory 2019

  • 1. 2019 Initiative presentation IoT Insurance Observatory CONFIDENTIAL
  • 2. 2 The Observatory Data provided by the Internet of Things represent an extraordinary opportunity for Insurance Companies and intermediaries The IoT Insurance Observatory is the first insurance think tank specialized on the insurance IoT: • The European Observatory aggregated more than 30 members Insurers, Reinsurers, and Tech players • The North American Observatory have already aggregated more than 20 members, including 7 of the top 15 P&C US Insurance Groups Insurance IoT Observatory is about connecting people and ideas in order to spread the innovation culture over the insurance market with three concrete outcomes: • A global multiclient research • Three workshops delivered to each member • Plenary symposiums
  • 4. 4 The think tank membership provides access to the most globally relevant insurance IoT knowledge The most pragmatic multiclient research specialized in the insurance IoT domain based on a constant observation on the usage of sensors in different insurance business lines around the globe We interpret best practices and pitfalls for the members leveraging an experience built advising almost 100 different organizations in more than 15 countries on IoT insurance project The knowledge is delivered through workshops dedicated one-to-one to each of the organizations which are members of the Observatory and plenary symposiums both in North America and Europe Observer Interpreter Storyteller
  • 5. 5 The last plenary symposiums June 28th, MilanApril 28th, Milan May 15th, Cincinnati October 1st, Vegas 10:00-10.30 The age of the AI first insurer - A concrete IoT home insurance approach, Pierluigi Fasano – Swiss Re 10.30-11:00 The innovation of the auto telematics services, Alessandra Girardo - Kubris 11:00-11.45 Auto telematics – A deep dive on the “Regolamento sconti black box”, Riccardo Cesari - IVASS 11.45-13:00 Demystifying the pricing IoT-based, Interactive Workshop 14:00-15.15 Roundtable – Connected health insurance opportunities and challenges • Matteo Cattaneo, Reale Group • Tilde Bove, Groupama • Bernardo Rocco, Salute On Demand • Andrea Silvello, Digital Tech 15.15-16 IoT data and customer profiling in the age of GDPR, Laura Liguori, Portolano Cavallo 9.00-10.00 InsurTech Disruption = (Big Data + IoT) AI with a case study for Workers Compensation – P. Pasricha, Intellect SEEC 10.00-11.00 IoT data to make intermediaries great again – Steve Anderson, The Anderson Network & Matteo Carbone 11.00-12.00 The American Modern’s experience on smart home - Sudheendra Galgali, American Modern Insurance Group 13.00-13.45 Smart Mobility Program and LossDetect™ tool – Mike Scrudato, Munich Re 13.45-14.30 How to move form interesting IoT data to actionable data with real examples – Nick Leimer, Microsoft 14.30-15.00 IoT trends and maturity models – Chuck Ruzicka, Novarica 15.00-15.20 Make on demand insurance through IoT and contextual data – Matteo Carbone 10:00-10.30 Smartphone-Centric Telematics Solutions, Dennis Frawley - Cambridge Mobile Telematics 10.30-11.00 Telematics and sharing economy: what benefits for car sharing players and insurers? A. Girardo – Kubris 11.00-11.30 API Gateways and Digital Ecosystems, Giulio Gaioni – Sysdata 11.30-12:00 Technology as key enabler for new insurance value propositions, Alberto Firpo – Agile Lab 12:00 -13:00 The Munich Re experience with IoT, fireside chat with Andreas Moser – Munich Re 14:00-14.45 Wearables and the power to change the life insurance proposition, Luc Oudinot - SCOR 14.45-15.30 A shared value approach to telematics, Yehuda Hockman - Discovery Insure 15.30-16:00 New IoT insurance products & privacy by design, Laura Liguori - Portolano Cavallo 9.30-10.30 “A Shared Value approach to motor insurance with telematics as the enabler” – Zaheer Alli, Discovery Insure 10.30-11.15 “From Design to Production: Putting together Data & IoT technologies to build successful value cases” - Fabio Ardossi, Replay 11.15-12.00 “From Connected Homes to Safe Homes, seizing the insurer’s opportunity” – Cecilia Seviliano, Swiss Re 12.00-12.30 “Using Behavioral Science and AI to fill the insurance protection gap” - John Murray, Neosurance 13.30-14.30 “The Life Insurance Industry and Insuretech are dating…now what?” - Paul Rivard, Munich Re; JP Bewley Evo; Jared Carlson, Assurity 14.30-15.15 “Simplifying IoT implementations – taking insurers’ headache away” – Atanu Sarkar, ValueMomentum 15.15-16.00 “IoT Ecosystem is driving change” – Nicholas Leimer, Microsoft November 30th, Chicago December 10th, Milan 08.00-08.20 “Pricing IoT based”, Carbone – IoT Insurance Observatory 08.20-09:00 “Deep dive on auto telematics pricing approaches”, Ross - DRC Group 09.00-09.40 “Presence of insurers in the connected life of the customers”, Carbone – IoT Insurance Observatory - and Sarkar - ValueMomentum 09.40-10.20 “Insurance opportunities on the IoT Ecosystems”, Leimer - Microsoft 10.20-10.50 “Workers Compensation Business and Technology Trends and the Impact of Emerging Tech”, Gomez - Novarica 10.50-11.30 “The usage of IoT data to reinvent workers’ compensation business”, Firpo - Agile Lab 11.30-12.00 “Connected Services @Home: A real experience from the market”, Ardossi - Reply 13.00-13.20 “Investing in Insurance IoT”, Horoviz - HCS Capital 13.20-14.30 “Life insurance and wearables: concrete experiences”, Bewley and Cabral - Evo 10.00-11.00 Privacy, GDPR and compliance roundtable, Liguori – Portolano, D’Alfonso – Sara Assicurazioni, Franzoni – Allianz Worldwide Par- ners, Cervino - Groupama 11.00-11.30 3rd Generation telematics solutions from CMT, Bowne - CMT 11.30-12.00 How AI can facilitate automate damage estimation and bring efficiency in the Claim Management Process: a real project’, Girardo – Kubris 12.00-12.30 Geodata representation and Context Information for the "Smart Insurance", Nesti – Qmap 12.30-13.00 Smartphone Data and the Insurance Customer Lifecycle, Kisvarday - TrueMotion 14.00-14.30 Service delivery through smart home insurance, Mascolo - IMA Assistance 14.30-15.00 Customer Engagement in Connected Insurance, Mumdziev – Amodo 15.00-15.30 Mosaic project: healthcare, wearables and medical devices, Procaccini - Maugeri 15.30-15.50 Health Bancassurance and Insurtech, Surlas – RGA 15.50-16.00 Wrap-up and presentation of the 2019 Observatory Edition, Carbone – IoT Insurance Observatory
  • 6. 6 The scope of the Observatory is the Insurance IoT The scope Any insurance solution based on sensors for collecting data about the state of an insured risk and telematics for remote transmission and management of the collected data Some of the additional focus for the 2019 edition Health and life Industrial risks and workers’ comp Auto and motorbike Home & commercial property Extended warranty Ecosystems Intermediary engagement Small commercial
  • 7. 7 We cover all the main insurance business lines
  • 8. 8 We address four thematic areas The new challenge of insurance IoT The impact of IoT on risk selection and claims Customer relations and engagement Risks of insurance IoT: privacy, data ownership, cyber risk • Representation of the Insurance IoT state of adoption • Analysis of the challenges and opportunities, in place and in perspective, of all the main business areas The impact of innovation: • On selection processes • On risk-based pricing approaches • On loss control processes The connected insurance can: • Change the relationship with customers • Improve understanding between contracting parties by reducing the mutual information asymmetries • Provide value-added services • Increase loyalty and insured empowerment in favor of more aware and responsible behaviors and lifestyles Focus on the critical issues, constraints that the connected insurance foresees in terms of : • Compliance • Information technology • Operational risks relating to managing security and confidentiality of processed data
  • 9. 9 Our goal is to help members to address the insurance IoT opportunity Value creation IoT improves insurance profit & loss and allows insurers to share part of this value with the customer in order to increase product adoption 1 Interaction frequency It enhances proximity and interaction frequency with the customer while creating new customer experience, increasing retention and expanding relationships 2 Knowledge creation IoT approaches create and consolidate knowledge about risks and the customer base which will lead to the next generation of products and services 3 Sustainability Insurance IoT enables a new virtuous role by providing positive externalities for a sustainable society 4
  • 10. 10 The Observatory provide a constant update on the Insurance IoT innovations to the participants Collection of evidences concerning insurance IoT approaches at a global level Research on consumer expectation and on distribution of connected insurance products in the international markets Best practices analysis with market benchmarks and international innovation scouting Annual plenary sessions (collegial events) in order to share with Observatory's Stakeholders ideas and experiences on insurance IoT 1to1 deep dive meetings (workshops) with each Insurance Company to present and discuss the Observatory's research 0503 040201
  • 11. 11 The Observatory created more value month by month…it is really useful have a systematic representation of topics we deal with daily but we was missing to rationalize Insurer Some quotes from the Observatory participants The initiative provided though- provoking contents. The deep dive sessions were clear and stimulated great engagement within the organization Insurer It is not about to discover the new killer application. The Observatory have continuously delivered top level contents and provided food for thoughts, valuable input for our innovation path. Insurer Unique perspective of the various Insurance IoT use cases around the world. Really helpful the deep dive tailored on our needs. Insurer Insightful ideas and continuous opportunities to meet innovative providers to partner with Insurer Great platform for engage and discuss a wide range of topics and ideas that will impact all of us in the insurance industry soon Reinsurer Relevant opportunity to approach unique contents about connected insurance – both from actuarial angle and customer angle - and to discuss them with Insurance Executives, Associations and the Regulator IT provider Relevant initiative on the sector, strong attendance and very innovative for structure and contents discussed IT provider
  • 12. 12 Contacts Matteo Carbone Founder and Director of the IoT Insurance Observatory Keynote speaker and writer on insurance innovation Global InsurTech Influencer (Top 2 InsurTech Influencer by InsurtechNews, Top InsurTech Influencer by Right Relevance, Top 10 InsurTech Influencer and top 4 insurtech influencers in the fintech community by Onalytica, Top 5 InsTech Influencer by InstechLondon, Top 25 Disruptors in the Insurance Industry by Vertafore) Matteo.carbone@iotinsobs.com +39 (334) 622- 0378 +1 (929) 309-6026