The document discusses initial ideas for a "BlackBox" device that could collect driving data through GPS and connectivity to improve the efficiency of car insurance pricing. It would aim to link a driver's usage patterns and risk more directly to pricing by having lower usage drivers subsidize high usage drivers less. The BlackBox specifications and value propositions are considered, as well as its potential target markets among drivers, underwriters, and bulk purchasers.

1. The « BlackBox » Team Wily Amer Bukhari, Bosco Lau, Kelvin Chiu, Candy Tang, Derek Leung, Sumi Cheung

2. The BlackBox – Initial Ideas Current car insurance Driver (gender, age, driving history, marital, occupation) Vehicle (classification, age, history) How about purpose / usage? Weekend, multiple cars, drive to work Coverage (Liability, Third party, Collision, Comprehensive) Usage vs Risk Lower usage  lower risk of payout Identification of the issue Current model : low usage subsidizing high usage Purpose : Improve market efficiency Lower risk  Lower cost

3. The Blackbox How to collect the data? The “ BlackBox ” : What is the spec? GPS, 3G connectivity, web central server, database, etc Value of information vs Cost of collection Value proposition : What are we selling? Data or Processed Information Integrated Web Services Target Market Intended Audience? Drivers / Underwriters / Bulk Purchase