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An Analysis of U.S. P&C Insurance Customer-Facing Mobile AppsCognizant
Property and casualty insurers are playing catch-up in the mobile app space, with most failing to deliver features and functionality that meet consumer needs and expectations, or matching the capabilities provided on existing Web portals, our latest research shows.
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Artfully deploying advanced technologies such as virtual reality, augmented reality, 3-D modeling, and digital avatars, our envisioned digital retail theater (DRT) offers huge benefits to both retailers and consumers. The digitally enhanced shopping experience is rapidly gaining momentum among both online and physical retailers.
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relationships in ways never before possible.
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Artfully deploying advanced technologies such as virtual reality, augmented reality, 3-D modeling, and digital avatars, our envisioned digital retail theater (DRT) offers huge benefits to both retailers and consumers. The digitally enhanced shopping experience is rapidly gaining momentum among both online and physical retailers.
By delving deeply into customer experience, business process design and operating model change, organizations can more effectively move from 'doing' digital to 'being’ digital.
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relationships in ways never before possible.
Car buying landscape: the road ahead by QuoraSocial Samosa
Quora, Talkwalker, and Grant Thornton Bharat collaborate to release a report highlighting the latest car buying trends on digital platforms and how the customer experience will be improved with a shift from physical to digital.
APAC's Digital Insurance Transformers: Illuminating the Way ForwardCognizant
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- Personalization should span all channels — because your customer is omnichannel and uses multiple touch points in his or her journey with your organization.
- The fragmentation of channels and customer data makes digital and offline personalization extremely challenging.
- A unified data layer helps consolidate “data signals” from across channels to form a complete, 360-degree view of the customer that enables personalized experiences.
- It is imperative to apply ethical standards to how data should be used and joined as you direct your organization toward deeper omnichannel personalization.
Wearable Devices: The Next Big Thing in CRMCognizant
When integrated with CRM systems, wearable devices offer the same type of digital experience as desktops, laptops, smartphone or tablets, but with the convenience afforded by watches, eyeglasses and headbands. Wearables apply across the CRM spectrum - from sales, to marketing, to services.
Connected and Self-Driving Vehicles Spark Industry ConvergenceRay Pun
We live in a connected world where industries and organizations are partnering to serve the consumer. Organizations are responding to major trends including the Internet of Things, urban mobility and the automotive revolution that will lead to:
• More than 190 million connected vehicles by 2021.
• Massive growth in big data.
• Ready or not, self-driving vehicles are coming.
As part of a J.D. Power and Acxiom research study, consumers were asked to share their opinions about self-driving and connected vehicles.
HOW TO DIFFERENTIATE YOUR DIGITAL CUSTOMER CARE Idc journey to_the_3rd_platfo...CMR WORLD TECH
HOW TO DIFFERENTIATE YOUR DIGITAL CUSTOMER CARE
Your customers evolve and so does your organisation. With similar products and services to your competition, there is a growing requirement to design unique customer benefits. Service is becoming the primary differentiator in a competitive market.
Download a full version of the report at:
http://bit.ly/2crBpoc
The Future of Automotive, created in partnership with Microsoft, presents various opportunities for driving business forward in a mobile-first world. The future state of the automotive industry is brought to life through five forward-looking scenarios to highlight how social consumer attitudes, connectivity and automation are shaping the potential of personal and flexible mobility. Insights learned can help manufacturers, OEMs and dealers understand how cloud-based solutions can transform their businesses in order to drive new levels of service throughout the entire value chain.
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In this edition, we're covering:
RISE OF THE MACHINES • THE PRIVACY PARADOX VISIONS OF EXPERIENCE • NEW CARD TRICKS • MADE TO ORDER • CLASSIC/REFINED, CONTEMPORARY/DEFINED
How Life & Annuity Companies Can Embrace Modern Platforms to Boost Direct-to-...Cognizant
Life and annuity (L&A) insurers seeking to enhance their direct-to-consumer reach should first simplify operations using modern, hosted, rules-based platforms, and deploy the panoply of digital tools and services and work with insurtechs when suitable.
Digital Transformation for Utilities: Creating a Differentiated Customer Expe...Cognizant
Utilities stand to reap large gains in customer-service efficiencies and user experience satisfaction by adopting a mobile-centric approach with apps that cover a wealth of transactional and engagement features.
Innomantra - Patent Portfolio of Electric Cars - 2015 ver 1.0F2Innomantra
The purpose of this study is to analyze the importance given by selected major automobile companies in the electric car segment to innovation, based on their Patent Portfolios. Apart from providing an account of innovation and technological development taking place in the automobile, specifically to electric car segment, the analysis of the patenting activity provides an insight into the current trends in the intellectual property generation activity. The study summarizes results of the research that was conducted on Toyota Motor Corporation, Tesla Motor Inc., The Ford Motor Company, Nissan Motor Company Ltd and General Motors Company.
This report covers filing trends of the above mentioned companies along with status of Patents, International Patent Classification and Priority Date. The study also provides the filing trends and status in the field of engineering to which they belong, along with details of all Patents filed by these companies since 2008.
The electric car industry is still in the nascent stage of growth. The electric car market is majorly concentrated in US and Japanese market. There is an increasing trend in the formation of Joint Ventures in research of electric battery technology by the automobile companies. Electronic and electronic components manufacturing companies like Samsung are filing patents in the electric car segment. This shows that electronic companies are planning to enter the electric automobile market. Developing low cost batteries, providing long range and government support are essential for success of mass-market electric vehicle industry.
The major automobile companies have filed patents in electrical machinery and transport segments. This shows that the investment is majorly done in battery and power train technologies. Though Tesla motors started recently in 2003, it is competing with top automobile companies like Toyota, Nissan, Ford and General Motors which were established nearly 100 years ago. Tesla patents are referred by all the major automobile companies and automobile component manufacturing companies. Tesla motors are followed by General motors which show that GM considers Tesla a direct competitor for the company in the electric car segment. Tesla motors did not cite any other patents filed by other automobile companies. This shows that Tesla motors is leading other automobile companies in technology research. Toyota motors have cited patents of all the other major automobile companies which shows that Toyota is following technological research of all the other major automobile companies.
In the past decade, auto manufacturers have installed various technologies designed to make cars safer, more responsive, and more pleasurable to drive. From the hands-free cellphone, to iPod berths, to satellite radio, to automated parking—not to mention Google’s self-driving vehicle—the automobile is undergoing an electronic overhaul that promises to transform its role for consumers. What once was perceived as personal transportation is fast evolving into a new mobile device, merging with the digital world into an all-encompassing communications environment.
This ongoing transformation is poised to shift into high gear as cars display still greater connectivity and broader capabilities than ever. What makes this shift different from the way automobiles adopted new technologies in the past is that this time, automakers may have to consider how they can quickly merge consumer electronics and software with their traditional automotive systems.
Car buying landscape: the road ahead by QuoraSocial Samosa
Quora, Talkwalker, and Grant Thornton Bharat collaborate to release a report highlighting the latest car buying trends on digital platforms and how the customer experience will be improved with a shift from physical to digital.
APAC's Digital Insurance Transformers: Illuminating the Way ForwardCognizant
Our research shows that insurers throughout the extremely diverse APAC region are placing their bets on digital transformation strategies to enhance customer experience and optimize operations. We take a deep-dive look into the particulars of what is currently happening and what lies ahead for the Asia-Pacific insurance industry's digital evolution.
- Personalization should span all channels — because your customer is omnichannel and uses multiple touch points in his or her journey with your organization.
- The fragmentation of channels and customer data makes digital and offline personalization extremely challenging.
- A unified data layer helps consolidate “data signals” from across channels to form a complete, 360-degree view of the customer that enables personalized experiences.
- It is imperative to apply ethical standards to how data should be used and joined as you direct your organization toward deeper omnichannel personalization.
Wearable Devices: The Next Big Thing in CRMCognizant
When integrated with CRM systems, wearable devices offer the same type of digital experience as desktops, laptops, smartphone or tablets, but with the convenience afforded by watches, eyeglasses and headbands. Wearables apply across the CRM spectrum - from sales, to marketing, to services.
Connected and Self-Driving Vehicles Spark Industry ConvergenceRay Pun
We live in a connected world where industries and organizations are partnering to serve the consumer. Organizations are responding to major trends including the Internet of Things, urban mobility and the automotive revolution that will lead to:
• More than 190 million connected vehicles by 2021.
• Massive growth in big data.
• Ready or not, self-driving vehicles are coming.
As part of a J.D. Power and Acxiom research study, consumers were asked to share their opinions about self-driving and connected vehicles.
HOW TO DIFFERENTIATE YOUR DIGITAL CUSTOMER CARE Idc journey to_the_3rd_platfo...CMR WORLD TECH
HOW TO DIFFERENTIATE YOUR DIGITAL CUSTOMER CARE
Your customers evolve and so does your organisation. With similar products and services to your competition, there is a growing requirement to design unique customer benefits. Service is becoming the primary differentiator in a competitive market.
Download a full version of the report at:
http://bit.ly/2crBpoc
The Future of Automotive, created in partnership with Microsoft, presents various opportunities for driving business forward in a mobile-first world. The future state of the automotive industry is brought to life through five forward-looking scenarios to highlight how social consumer attitudes, connectivity and automation are shaping the potential of personal and flexible mobility. Insights learned can help manufacturers, OEMs and dealers understand how cloud-based solutions can transform their businesses in order to drive new levels of service throughout the entire value chain.
Ninety Consulting: The Omnichannel InsurerDan White
Some insurers are already pursuing omnichannel, but other sectors, e.g. retail, are seen as more advanced and could yield lessons for insurers. In Part 1 of this two-part paper, we look at some of the initiatives and issues that are emerging as insurers try to move to an omnichannel approach. In Part 2, released separately, we look at examples and lessons from other sectors and try to answer the question ‘What can insurers learn about omnichannel from other industry sectors?’ We will conclude by making some keynote recommendations and predictions about the changing nature of omnichannel and its impact on the insurance sector.
In this edition, we're covering:
RISE OF THE MACHINES • THE PRIVACY PARADOX VISIONS OF EXPERIENCE • NEW CARD TRICKS • MADE TO ORDER • CLASSIC/REFINED, CONTEMPORARY/DEFINED
How Life & Annuity Companies Can Embrace Modern Platforms to Boost Direct-to-...Cognizant
Life and annuity (L&A) insurers seeking to enhance their direct-to-consumer reach should first simplify operations using modern, hosted, rules-based platforms, and deploy the panoply of digital tools and services and work with insurtechs when suitable.
Digital Transformation for Utilities: Creating a Differentiated Customer Expe...Cognizant
Utilities stand to reap large gains in customer-service efficiencies and user experience satisfaction by adopting a mobile-centric approach with apps that cover a wealth of transactional and engagement features.
Innomantra - Patent Portfolio of Electric Cars - 2015 ver 1.0F2Innomantra
The purpose of this study is to analyze the importance given by selected major automobile companies in the electric car segment to innovation, based on their Patent Portfolios. Apart from providing an account of innovation and technological development taking place in the automobile, specifically to electric car segment, the analysis of the patenting activity provides an insight into the current trends in the intellectual property generation activity. The study summarizes results of the research that was conducted on Toyota Motor Corporation, Tesla Motor Inc., The Ford Motor Company, Nissan Motor Company Ltd and General Motors Company.
This report covers filing trends of the above mentioned companies along with status of Patents, International Patent Classification and Priority Date. The study also provides the filing trends and status in the field of engineering to which they belong, along with details of all Patents filed by these companies since 2008.
The electric car industry is still in the nascent stage of growth. The electric car market is majorly concentrated in US and Japanese market. There is an increasing trend in the formation of Joint Ventures in research of electric battery technology by the automobile companies. Electronic and electronic components manufacturing companies like Samsung are filing patents in the electric car segment. This shows that electronic companies are planning to enter the electric automobile market. Developing low cost batteries, providing long range and government support are essential for success of mass-market electric vehicle industry.
The major automobile companies have filed patents in electrical machinery and transport segments. This shows that the investment is majorly done in battery and power train technologies. Though Tesla motors started recently in 2003, it is competing with top automobile companies like Toyota, Nissan, Ford and General Motors which were established nearly 100 years ago. Tesla patents are referred by all the major automobile companies and automobile component manufacturing companies. Tesla motors are followed by General motors which show that GM considers Tesla a direct competitor for the company in the electric car segment. Tesla motors did not cite any other patents filed by other automobile companies. This shows that Tesla motors is leading other automobile companies in technology research. Toyota motors have cited patents of all the other major automobile companies which shows that Toyota is following technological research of all the other major automobile companies.
In the past decade, auto manufacturers have installed various technologies designed to make cars safer, more responsive, and more pleasurable to drive. From the hands-free cellphone, to iPod berths, to satellite radio, to automated parking—not to mention Google’s self-driving vehicle—the automobile is undergoing an electronic overhaul that promises to transform its role for consumers. What once was perceived as personal transportation is fast evolving into a new mobile device, merging with the digital world into an all-encompassing communications environment.
This ongoing transformation is poised to shift into high gear as cars display still greater connectivity and broader capabilities than ever. What makes this shift different from the way automobiles adopted new technologies in the past is that this time, automakers may have to consider how they can quickly merge consumer electronics and software with their traditional automotive systems.
Connected Lives: Where Smart Vehicles Meet the Intelligent RoadCognizant
The digital highway promises to enable an ever-expanding ecosystem encompassing intelligent transportation systems, smart cities and logistics systems, optimizing productivity and performance for businesses and individuals.
Autonomous vehicles: Plotting a route to the driverless futureAccenture Insurance
How will roadways dominated by high or fully automated vehicles impact future industries, economies and populations? What shifts in leverage and underlying business models are imminent? What new pathways for ecosystem innovation might arise from the data explosion that comes with AV proliferation?
The answers to these questions can be revealed by examining the immediate impact of AV adoption on three industry segments: automotive sales and service; logistics and supply chains; and auto insurance.
With increasingly autonomous capabilities and a declining interest in ownership, the auto industry needs to focus on in-transit innovation, purpose-driven design and a transition to a service-based business model.
At Passport, we’re dedicated to serving our clients (all 1,000 of them!) and providing solutions for managing and controlling the curb. To create the best possible products, we need to stay on top of trends in our industry. Last year, we identified four trends we thought we’d hear a lot about in 2019. Now, we’re excited to share our predictions for 2020 about the hot topics in our ever-changing industry.
The Faststream Technologies Smart Automotive Solution is enabled with IoT platform. The Connected Vehicle Solution aims to help the digital transformation of car manufacturers. To create the Connected Vehicle, Automobile manufacturing companies, telecommunication service providers and Faststream Technologies are working together. We’ve leveraged our mobile and compute platforms to support automotive trends in telematics, infotainment, ADAS, and cloud management mobile solutions. The Connected car services and applications along with our IoT solutions in the Automotive sector are presented here.
Cars with access to the Internet, also known as connected cars, are gaining popularity in the automobile industry. Download the Special Report by Aranca here!
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How Telematics Will Improve Driver Experience and Deliver Greater Business Value
1. How Telematics Will Improve
Driver Experience and Deliver
Greater Business Value
Rapidly accelerating advances in telematics and human-machine
interface design promise to deliver not only superior driving
experiences but also benefits across the automotive ecosystem
and beyond.
Executive Summary
“The car is the ultimate mobile device.”
– Jeff Williams, Senior Vice-President,
Apple Computer, Inc.1
Buckle up for telematics, the coming revolution
in how we will drive. In the near future, four
forces will change the experience of everyone
touched by the automotive industry: the trans-
mission and interchange of global positioning
data, communications between road systems
and automotive instruments and sensors,
instructions from voice commands, and a range
of data feeds from mobile devices, social media
and and local businesses.
Enabled by cloud-based telecommunications,
telematics will mature from “simple” locational
data to cars that drive themselves, providing a
safer and more enjoyable, productive and reliable
experience for everyone. But telematics doesn’t
only benefit the consumer side of the automotive
market; it also provides significant advantages
to those that supply and support the automotive
industry.
Automakers that fully embrace telematics will be
able to streamline operations, improve product
quality and strengthen the customer connection
to their brand – converting one-time product
sales into long-term service-centered relation-
ships. This is the road ahead to greater profitabil-
ity and competitive advantage for manufactur-
ers, OEMs and other stakeholders in the massive
global automotive ecosystem.
This white paper provides a quick glimpse into the
win-win world of next-generation telematics and
the transportation ecosystem it will support.
The World Around the Corner
Imagine yourself in the driver’s seat, trapped in
traffic on the long trip home. Your car alerts you
with an audio and in-dash newsflash display: an
accident blocking all lanes is five miles ahead.
cognizant 20-20 insights | august 2016
• Cognizant 20-20 Insights
2. cognizant 20-20 insights 2
You know all the alternative routes. You know
you’re pretty much stuck.
So does the vehicle. It has already reviewed
alternative routes and travel times – and rejected
them. Your on-board concierge app asks if you’d
like a dinner break while traffic clears. It opens
an app to find a nearby restaurant that meets
your preferences, and the address is sent to your
on-board GPS. While the car switches lanes for
you, you dictate a text message to your spouse
to say you’re tied up in traffic and are going to
stop for dinner until it clears.
Back on the road an hour later the route home
is clear. As your car drives, you ask the in-dash
concierge to record an idea that came to you at
dinner and e-mail it to you. By the time you get
home, you are relaxed, content, even invigorated.
A week later, your car detects an anomaly in its
idling revs. It’s an early indication of a problem
that could wind up leaving you stranded if it’s
not addressed. The on-board telematics-enabled
predictive diagnostics system identifies service
centers nearby that have the parts and tools
required to make the adjustment for your make
and model.
You select the one you prefer, and instruct the car
to pull over at the next exit. The service center
dispatches a technician, and your car is repaired
while you answer e-mail on your smartphone.
Best of all? It’s covered under the warranty – the
information for which is automatically sent to the
service tech and your insurer.
Digital Dynamics: Information
Drives Value
Through telematics, vehicles can convey data
about themselves, such as component status,
speed, mileage and fuel economy. Telematics
systems can also capture car-related purchases
and patterns, including location, routes and travel
times, as well as log fuel consumption, service
needs and even the insurance provider and costs.
Feature-rich telematics systems can also capture
driver preferences from smartphones, wearables
and social media profiles, and optimize perfor-
mance using geo-spatial data from the operating
environment, such as weather, road conditions,
route, grade of the road and altitude. (For more
insight, please view our video.2
)
In addition to optimizing the experience for both
the driver and passengers, these data points can
form a robust foundation for sophisticated data
modeling, which companies can use to develop
meaningful and predictive insights. These insights
represent a massive opportunity for car makers to
monetize telematics across the customer lifecycle.
As a corollary, telematics-enabled vehicles can
command a pricing premium, create opportuni-
ties for ongoing revenue streams through per-
sonalized subscription service offerings, improve
product innovation and quality over time, and
offer a superior traveling experience that builds
brand loyalty for future purchases.
Benefits throughout the Ecosystem
The benefits of telematics extend to stakeholders
throughout the automotive ecosystem.
Manufacturer Benefits
Through telematics, manufacturers can reduce
costs and cycle times for new models. Just a few
years ago, it could take five years or more to get a
new car model from concept to showroom. Today,
car manufacturers can potentially shorten design
timeframes and speed launches by analyzing the
real-time performance data of key components
(such as the engine) from millions of vehicles
fitted with telematics units.
Manufacturers can also realize additional savings
by using telematics systems to understand which
parts are failing and why, significantly reducing
recalls. Instead of responding to statistical reports
in retrospect, manufacturers can evaluate parts
and suppliers on a daily or hourly basis – even in
real time. They can also gain visibility into how
components operate under different conditions,
and hold vendors accountable for agreed-on
specifications and performance levels.
Telematics can also help address carmakers’
concerns that tomorrow’s buyers could have
very different needs and expectations for their
vehicles, including how much they want to own
one. Call it Uber-ization or simply convenience,
but the current generation and those to follow
might simply order transportation on-demand
from their mobile device.
Telematics can also help address
carmakers’ concerns that tomorrow’s
buyers could have very different
needs and expectations for their
vehicles, including how much they
want to own one.
3. cognizant 20-20 insights 3
Pilots already exist for car-sharing – using a
“social-circle” model, such as through Audi
Unite3
in Sweden – and to increase convenience
and choice, such as with Audi at Home.4
Just as
today’s travelers might choose a rental car before
a business trip, tomorrow’s traveler’s might order
a self-driving vehicle to run errands: an SUV for
the weekly run to the grocery store, a truck for
the trip to the hardware store, a luxury sedan for
that special night out on the town.
Dealer Benefits
Using data about a car’s driving history, dealers
can develop a more accurate valuation of a
pre-owned car, and using driver data, they can
generate digital sales leads and customized
offers tailored to individual car buyers. Further,
they can minimize revenue leakage by directing
drivers to dealerships rather than third-party
vendors for service, accessories and spare parts
after-market.
Commercial Trucking and Equipment
Manufacturer Benefits
Commercial trucking and heavy equipment man-
ufacturers, including Caterpillar, John Deere,
Cummins, Paccar, Volvo and Navistar, leverage
remote monitoring and diagnostics to improve
customer service. Using this system of rich,
real-time data fueled by predictive analytics, these
manufacturers are providing their customers with
increased visibility and control over fleet perfor-
mance, supply chains and logistics.
Benefits Beyond the Auto Industry
Forward-thinking companies outside the
automotive industry can also take advantage of
the opportunities afforded by connected cars.
Early adopters in the insurance industry are
using telematics data to set rates based on how
far, how fast and under what conditions a person
drives. (For historical context, read our white
paper “The New Auto Insurance Ecosystem:
Telematics, Mobility and the Connected Car.”)
Further, restaurants, retailers and entertain-
ment providers can leverage intelligence on
driver preferences and locations to distribute
content and context-appropriate offers.
Common Sensors? Smarter
Connections
An automobile coming off the production line
today might have anywhere from 30 to 90
electronic modules controlling diverse systems,
from brakes and airbags to seating positions and
entertainment. By 2020, a new car will likely be
equipped with 200 or more sensors and a tele-
communications module for transmitting vehicle,
driver and geo-spatial data.
But building a telematics infrastructure will
require more than vehicle hardware and electron-
ics. An ecosystem of connected cars and tens of
billions of sensors will require telecommunica-
tions networks, cloud infrastructure, data storage
capacity, integration with third-party applications
and vendors, and well-designed human-machine
interfaces (HMI) so consumers can comfortably
interact with the telematics system. (For more on
intelligent road infrastructure, see our Cognizanti
article “Connected Lives: Where Smart Vehicles
Meet the Intellient Road.”)
Manufacturers will also need to meet complex
physical and digital security challenges, such
as preventing unauthorized access to both the
vehicle and its on-board digital features and data.
Unless and until driverless cars are the norm,
it will be paramount for car makers to address
driver safety by lessening manual, visual and
cognitive distractions.
Market participants must also balance data
collection with customer privacy, and identify
features that are useful vs. those that are
intrusive. They will need to give consumers
clarity on whether and when to share data and
the benefits of doing so.
Intelligence ... Autonomy ...
Start Your Engines
Telematics opens the road to intelligent transpor-
tation. Fully autonomous vehicles will turn cars
into mobile extensions of our homes and offices,
completely changing the driving experience.
Now is the time to capitalize on the promise of
a future of connected cars, and establish a solid
foundation for the future digital innovations that
are sure to come.
Telematics will introduce a convergence of
multiple connected processes. Automakers can
greatly benefit by not restricting these innova-
tions to the basic capabilities of this technology.
By targeting demographic-specific telematics-
By 2020, a new car will likely be
equipped with 200 or more sensors
and a telecommunications module
for transmitting vehicle, driver and
geo-spatial data.