The Observatory generates and promotes innovation in the insurance sector: representing the cutting edge of global innovation; offering a strategic vision to exploit the insurance IoT full potential; stimulating research and debate between the participants.
The seven annual Observatory editions in figures:
- 2738 hours of one-to-one workshops
- 32 plenary symposiums between North America and Europe
- 87 insurance companies (including 4 of the top 5 Reinsurers, 11 of the top 15 European Insurance Groups, and 10 of the top 15 US P&C Insurance Groups)
- 51 tech players and vendors
Insurance IoT Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge
The IoT Insurance Observatory is a four year old think tank specialized in insurance IoT
The Observatory generates and promotes innovation in the insurance sector: representing the cutting edge of global innovation; offering a strategic vision to exploit the insurance IoT full potential; stimulating research and debate between the participants.
Global insurance think-tank, which has put together executives from more than 50 insurance groups, Institutions and the Internet of Things ecosystem, to discuss the great potential of the most mature Insurtech trend, as well as the challenges it poses to the insurance business. The focus is on any insurance solution based on sensors for collecting data on the state of an insured risk and telematics for remote transmission and management of the data collected.
How an insurer can stay relevant in the age of dataMatteo Carbone
Irrelevancy is only a choice for an Insurer, not his inevitable destiny. Insurtech can make the insurance sector stronger and therefore more capable of achieving its strategic goal: to protect the way people live.
Have auto insurers to die? ..or to become irrelevant?
It is not their inevitable destiny; it is only a choice.
Auto insurers can be proactive, take the bull by the horns, stay relevant and become frequent in the life of their customer
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
Insurance IoT Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge
The IoT Insurance Observatory is a four year old think tank specialized in insurance IoT
The Observatory generates and promotes innovation in the insurance sector: representing the cutting edge of global innovation; offering a strategic vision to exploit the insurance IoT full potential; stimulating research and debate between the participants.
Global insurance think-tank, which has put together executives from more than 50 insurance groups, Institutions and the Internet of Things ecosystem, to discuss the great potential of the most mature Insurtech trend, as well as the challenges it poses to the insurance business. The focus is on any insurance solution based on sensors for collecting data on the state of an insured risk and telematics for remote transmission and management of the data collected.
How an insurer can stay relevant in the age of dataMatteo Carbone
Irrelevancy is only a choice for an Insurer, not his inevitable destiny. Insurtech can make the insurance sector stronger and therefore more capable of achieving its strategic goal: to protect the way people live.
Have auto insurers to die? ..or to become irrelevant?
It is not their inevitable destiny; it is only a choice.
Auto insurers can be proactive, take the bull by the horns, stay relevant and become frequent in the life of their customer
The Singapore FinTech Consortium - Introduction to InsurTechFinTech Consortium
When you hear of “insurance”, the words “innovation” and “technology” would not come to mind intuitively – but they should now. At this day and age, insurance technology has the potential to affect nearly every essential insurance function, ranging from distribution methods to actuarial number crunching. InsurTech is now being implemented across every stage of the insurance value chain.
InsurTech 2016 Conference is a global gathering of the world's leading thinkers and doers in Insurance innovations and technology. It's a gathering of the planet's businesses, large and small, who are being impacted by new innovations to want to meet the demands of the insurance market.
This year, over 300 attendees will make the trip from all corners of the globe to hear from 80 industry thought leaders who will deliver the knowledge you're looking for to succeed in this arena.
InsurTech 2016 will assure that you meet the top insurance and technology professionals - leading 22 interactive and insightful sessions across all the insurtech spectrum, including:
Digital distribution channel
Blockchain
Data Analytics
Wealth Management
IoT & Telematics
Auto Tech
Health Tech & Wearables
Book your delegate ticket now for additional 15% Discount @ http://bit.ly/2bmXVxG
IoT Insurance Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT and telematics insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge, and its goal is to promote a profitable IoT adoption in the insurance industry.
IoT is a terrific opportunity for the insurance sector.
But the average understanding of this opportunity in the different markets is low, and it is common to hear superficial comments by analysts in the various markets.
Let's demystify some myths!
The first think tank dedicated to the Connected Insurance (Telematics & Insurance IoT), the most relevant insurTech trend (representing around 80% of the $16,5B invested on IsurTech globally as of today)
The Connected Insurance Observatory is think tank specialized on telematics and insurance IoT. It is engaging insurers, distributors, institutions and tech players with the goal to spread a culture of innovation throughout the insurance sector
A presentation a friend and I worked on while brainstorming ideas for a technology startup. Our objective was to explore opportunities in industries we're familiar with and industries we believe are ripe for disruption. The presentation lays out key industry metrics and profiles successful companies (somewhat startup-focused) within each industry.
Onramp key takeaways:
1) Same Insurtech brutal truths
2) The future of the Insurers will be insurtech
3) Reasons why for adopting IoT in the insurance sector
4) The IoT Insurance Observatory mission
The reasons why for adopting IoT in the insurance sector are:
1) frequency of interaction
2) value creation
3) knowledge creation
4) sustainability
An incredible opportunity for the insurance sector
A pitch deck by a Nigeria-based insurtech startup - Digital solution for insurance inclusion in Nigeria. Detailed strategy to increase insurance penetration in the retail market segment, with a focus on digital insurance transformation
Some insurers will succeed in the connected car war and they will stay relevant in the life of their clients. Some players have already started their journey…
Slide deck presenting objectives of Big Data Working group of Institute of Actuaries in Belgium.
The goal of the group is to discuss:
- Impact of Big Data on insurance sector and the
actuarial profession;
- Present challenges and good practices when working
with Big Data;
- Educate actuarial profession about Big Data.
Contact me at mat@motosmarty.com
A deep dive look at the connected insurance technology sector, providing an insurance startup map, trends/insights, and relevant company profile examples.
Insurers today, big and small, are facing disruption due to the increasing deployment of InsurTech technologies and by engaging EY, insurers stand to reap benefits of the latest innovations and insurance products, capitalize on new markets as well as future-proof business for with the help of EY's expertise in this sector.
Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
Insurers' journeys to build a mastery in the IoT usageMatteo Carbone
Insurance IoT is a social good!
Because:
🔵 Expected losses can be reduced structured programs with both real-time mitigation actions to solve a specific situation, and behavioral change mechanisms to promote safer behaviors (both in personal and commercial lines)
🔵 Rate can be matched to risks better:
- Smaller and more accurate pricing clusters allow a large part of profiles to receive a lower rate
- Even with the ability to price the individual probability of loss (cluster of one) the insurance foundation isn’t canceled (The risk of each policy will contribute to the expected losses of the portfolio; The premiums paid by many lucky policyholders will be used to pay the claims of the few unlucky policyholders who had an accident in a period of coverage)
🔵 IoT data can be used to increase the effectiveness and efficiency of the claim process, so improving the combined ratio ceteris paribus
⏩ Large part of the policyholders will pay less (and portfolios currently difficult to insure will become more insurable)
Insurance IoT (and telematics) is not about providing a discount
Insurance IoT (and telematics) is about creating economic value using the data and sharing part of this value with policyholders (and agents & brokers)
An integrated holistic adoption of the IoT paradigm is a game changer for your insurance business and a social good:
◾ it allows to improve the availability and affordability of insurance coverages
◾while allowing the sector to write a profitable business
Below you can enjoy a selection of best practices in both personal and commercial lines - written with some of the IoT Insurance Observatory members - that have already started to obtain results from their IoT business transformation journeys
IoT is a game changer for many insurance activity. An increasing number of success stories are emerging at a global level. The IoT Insurance Observatory is committed to support a profitable usage of IoT in the Insurance sector
IoT Insurance Observatory is a six-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT and telematics insurance arena
The think tank membership provides access to the most globally relevant insurance IoT knowledge, and its goal is to promote a profitable IoT adoption in the insurance industry.
IoT is a terrific opportunity for the insurance sector.
But the average understanding of this opportunity in the different markets is low, and it is common to hear superficial comments by analysts in the various markets.
Let's demystify some myths!
The first think tank dedicated to the Connected Insurance (Telematics & Insurance IoT), the most relevant insurTech trend (representing around 80% of the $16,5B invested on IsurTech globally as of today)
The Connected Insurance Observatory is think tank specialized on telematics and insurance IoT. It is engaging insurers, distributors, institutions and tech players with the goal to spread a culture of innovation throughout the insurance sector
A presentation a friend and I worked on while brainstorming ideas for a technology startup. Our objective was to explore opportunities in industries we're familiar with and industries we believe are ripe for disruption. The presentation lays out key industry metrics and profiles successful companies (somewhat startup-focused) within each industry.
Onramp key takeaways:
1) Same Insurtech brutal truths
2) The future of the Insurers will be insurtech
3) Reasons why for adopting IoT in the insurance sector
4) The IoT Insurance Observatory mission
The reasons why for adopting IoT in the insurance sector are:
1) frequency of interaction
2) value creation
3) knowledge creation
4) sustainability
An incredible opportunity for the insurance sector
A pitch deck by a Nigeria-based insurtech startup - Digital solution for insurance inclusion in Nigeria. Detailed strategy to increase insurance penetration in the retail market segment, with a focus on digital insurance transformation
Some insurers will succeed in the connected car war and they will stay relevant in the life of their clients. Some players have already started their journey…
Slide deck presenting objectives of Big Data Working group of Institute of Actuaries in Belgium.
The goal of the group is to discuss:
- Impact of Big Data on insurance sector and the
actuarial profession;
- Present challenges and good practices when working
with Big Data;
- Educate actuarial profession about Big Data.
Contact me at mat@motosmarty.com
A deep dive look at the connected insurance technology sector, providing an insurance startup map, trends/insights, and relevant company profile examples.
Insurers today, big and small, are facing disruption due to the increasing deployment of InsurTech technologies and by engaging EY, insurers stand to reap benefits of the latest innovations and insurance products, capitalize on new markets as well as future-proof business for with the help of EY's expertise in this sector.
Unbundling the Insurance Value Chain - Disruption in the Insurance Sector - The 7th. International Istanbul Insurance Confrence - Prof. Dr. Selim YAZICI (2016)
Insurers' journeys to build a mastery in the IoT usageMatteo Carbone
Insurance IoT is a social good!
Because:
🔵 Expected losses can be reduced structured programs with both real-time mitigation actions to solve a specific situation, and behavioral change mechanisms to promote safer behaviors (both in personal and commercial lines)
🔵 Rate can be matched to risks better:
- Smaller and more accurate pricing clusters allow a large part of profiles to receive a lower rate
- Even with the ability to price the individual probability of loss (cluster of one) the insurance foundation isn’t canceled (The risk of each policy will contribute to the expected losses of the portfolio; The premiums paid by many lucky policyholders will be used to pay the claims of the few unlucky policyholders who had an accident in a period of coverage)
🔵 IoT data can be used to increase the effectiveness and efficiency of the claim process, so improving the combined ratio ceteris paribus
⏩ Large part of the policyholders will pay less (and portfolios currently difficult to insure will become more insurable)
Insurance IoT (and telematics) is not about providing a discount
Insurance IoT (and telematics) is about creating economic value using the data and sharing part of this value with policyholders (and agents & brokers)
An integrated holistic adoption of the IoT paradigm is a game changer for your insurance business and a social good:
◾ it allows to improve the availability and affordability of insurance coverages
◾while allowing the sector to write a profitable business
Below you can enjoy a selection of best practices in both personal and commercial lines - written with some of the IoT Insurance Observatory members - that have already started to obtain results from their IoT business transformation journeys
IoT is a game changer for many insurance activity. An increasing number of success stories are emerging at a global level. The IoT Insurance Observatory is committed to support a profitable usage of IoT in the Insurance sector
More Than an Observer - Carbone Still Igniting Industry’s IoT PassionMatteo Carbone
Insurance IoT Observatory is a seven-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena
The Observatory is about connecting people and ideas in order to spread the innovation culture throughout the insurance market with three concrete outcomes:
- a global multiclient research on the insurance IoT paradigm
- one-to-one workshops to each member
- plenary symposiums with all the members
The Observatory engage constantly hundreds of key executives involved in the IoT programs within the members of the think tank (including 3 of the top five European insurers, 5 of the top ten US P&C insurers, 2 of the top three Japanese insurers, the largest Australian insure, one of the top two Brasilian insurers and 3 of the top six global reinsurers).
Some figures about our seven editions:
- 2920 hours of one-to-one workshops over the five annual editions of the Observatory
- 34 plenary symposiums between North America and Europe
-7 international publications
The State Farm Vision - Ecosystem Capabilities for the Insurer of the Future.pdfMatteo Carbone
State Farm's vision about the platform play and the smart home strategy is a fundamental area for any personal line insurance carrier in the future. IoT is a necessary capability, not a nice to have!
𝗬𝗼𝘂𝗿 𝗽𝗼𝗹𝗶𝗰𝘆𝗵𝗼𝗹𝗱𝗲𝗿𝘀 𝗮𝗿𝗲 𝗿𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗲𝗹𝗲𝗺𝗮𝘁𝗶𝗰𝘀‼️
...𝗮𝗿𝗲 𝘆𝗼𝘂 𝘁𝗼𝗼❓
https://www.linkedin.com/posts/matteocarbone_telematics-readiness-activity-7024698841979400192-BGYc?utm_source=share&utm_medium=member_desktop
results of the survey done by Swiss Re and IoT Insurance Observatory on 10000 policyholders.
The telematics sponsors are people who are likely or very likely to recommend a telematics motor insurance app to a friend. This cluster is equally comprised of men and women and includes mostly millennials (23–41 years old) and people in Generation X (42–57 years old). They love driving and walking, but they don't shy away from using public transport. Telematics sponsors represent 54% of our sample.
The IoT Insurance Observatory mission is to promote a profitable IoT adoption in the insurance sector.
The six annual editions have aggregated more than 130 organizations.
Tech players and Insurance companies, including:
* 4 of the top 5 Reinsurers
* 11 of the top 15 European Insurance Groups
* 10 of the top 15 US P&C Insurance Groups
From Risk Transfer to Risk Prevention - How the Internet of Things is Reshapi...Matteo Carbone
The Geneva Association and the Insurance IoT Observatory looked at the transformation of traditional insurance risk transfer to technology-driven risk mitigation and prevention services.
Risk prevention is an IoT-based uses case able to create a positive impact to all the stakeholders: avoiding the accidents to the policyholders, improving the insurance bottom line, and generating positive externalities to the society
A (false) myth I have heard frequently at conferences is that insurers are not yet able to use IoT data to take smart actions
Instead, there are different success stories about-based risk prevention in different insurance business lines bit.ly/RiskPreventionPaper
One of the best practices in changing driver behaviors is Discovery Limited
Having seen the early steps of this approach, since it’s launch on 1 June 2011, and the journey over the following years, I’ve been always impressed by their innovation journey
Each annual product review has been a thought-provoking presentation: I consider myself extremely luck for this opportunity to learn directly from Anton and Francois and all the team
#Insurtech case histories are frequently fascinating storytelling and make people feel self-satisfied, instead in this paper you will find facts and figures about prevented accidents and profitable auto #insurance portfolios
I love this #telematics story...concrete and fact based!
The world is now hyperconnected. Insurance of the future will use data to enhance customer experiences, impact core insurance processes, create new knowledge and improve sustainability. There are already pioneers in this space, and their stories demonstrate the powerful and increasing role of IoT data in better risk prevention
A new insurance paradigm for the hyperconnected worldMatteo Carbone
IoT adoption is a strategic choice that requires a multi-year commitment to develop the specialistic insurance IoT competencies and the leadership competencies needed to transform the way business is currently being done.
Although IoT has not yet been systematically addressed by the large majority of insurers, several early adopters have already concretely demonstrated the potential of using this technology in the insurance sector.
These successful player journeys show IoT’s extraordinary potential to generate value for insurers, policyholders, and even the entire society.
Insurance IoT is a new way of thinking about the activity of assessing, managing, and transferring risks. This new way of thinking for the insurance business fits with a world that is going to be more and more hyperconnected, a trend that insurers can neither stop or ignore.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
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Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
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Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
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𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
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The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
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2. 2
The Observatory mission is to promote a profitable IoT adoption
Insurance IoT Observatory is a seven-year-
old think tank specialized on the insurance
IoT with the participation of top executives
from the most relevant Insurers, Reinsurers,
and Tech players in the IoT insurance arena
The Observatory is about connecting people
and ideas in order to spread the innovation
culture throughout the insurance market
with three concrete outcomes:
• A global multiclient research on the
insurance IoT paradigm
• One-to-one workshops to each member
• Plenary symposiums with all the
members
Some international insurance best practices
have successfully integrated IoT in their
insurance value chain and achieved
positive ROIs. These insurer’s business
transformation journeys show how strategy
matters more than size
The Observatory speaks the insurance business
units’ language but has the innovation units’ soul
Our approach
HOLISTIC
INTEGRATION
STRUCTURED
USAGE
CONNECTION
COLLECTION
RESEARCHING INTERPRETING STORYTELLING REFLECTING
Information
Organization
Knowledge
Development
Insurance IoT
Wisdom
sharing
Constant
Scouting
3. 3
The annual Observatory editions in figures
hours of one-to-one
workshops over the six
annual editions of the
Observatory
plenary symposiums
between North America
and Europe
insurance companies,
including:
4 of the top 5 Reinsurers
11 of the top 15 European
Insurance Groups
10 of the top 15 US P&C
Insurance Groups
international
publications
tech players and vendors
2738
32
7 51
87
Worked directly with players accounting for more than 80% of global IoT
insurance volumes (number of insurance policies with telematics, smart
home/buildings, and connected health/life)
4. 4
The think tank membership provides access to the most globally
relevant insurance IoT knowledge
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
The most pragmatic multiclient research specialized in the
insurance IoT domain based on a constant observation of
the usage of sensors in different insurance business lines
around the globe
We interpret best practices and pitfalls for the members
leveraging experience built on advising hundreds of
organizations in almost 20 different international countries
on IoT insurance projects
Storyteller
6. 6
We cover all the insurance business lines
Business lines Cross-business line topics
Personal auto
Homeowner
Life & Health
Commercial auto
Property
General liability
Workers’ compensation
Employee benefits
Extended warranty
Personal
lines
Commercial
lines
Senior
living
Agriculture
Retail
Manufacturing
Construction
Marine
Behavioral
change
Selling services
and improving
customer
experience
IoT
architecture
Continuous
Underwriting
IoT-based innovation
journey
(IoT and leadership
capabilities)
Go to
market
Real time risk
mitigation
Ecosystems
ROI
management
Digital twins &
usage of new
knowledge about
clients and risk
MedMal
7. 7
Cross-
business
line topics
We help Observatory members to address the insurance IoT opportunity
• Insurance IoT vision and strategy
• Reasons for adopting IoT into the insurance business
• Current insurance IoT state of adoption
• Deep dive (international best practices, local opportunities,
expected future development) on the following IoT use case:
‒ Enhance Customer Experience
‒ Create Value on Insurance Core Processes
‒ Develop New Knowledge
‒ Improve Sustainability
• Deep dive on leadership capabilities (international success
stories, pitfalls):
‒ Vision and strategy
‒ Usage of IoT as enabler for business performances
‒ Engagement
‒ Governance
‒ Continuous innovation
• Key aspects for execution:
‒ Go to market and partnership
‒ People, skills, and processes
‒ IoT architecture
‒ Data sources and sensors
• Focus on critical issues and constraints:
‒ Compliance and privacy
‒ Operational risks (security and data
confidentiality)
What
learnings are
obtained by
members?
• Understanding the business reasons for adopting the insurance IoT paradigm
• Understanding the role of leadership capabilities in the IoT-based business transformation
• Identifying the different insurance IoT use cases and their contribution for providing a strategic advantage to your business
• Identifying approaches to execute a profitable IoT-based business transformation
• Assessing customer readiness for different value propositions
• Assessing your company’s readiness for the IoT journey
• Understanding best practices for enhancing IoT capabilities and leadership capabilities in your insurance IoT program
• Identify the challenges of insurance IoT programs (both in the design, execution, and continuous evolution) and methods
for addressing them
8. 8
Three different options for your one-to-one workshops
A deep-dive on the insurance IoT key trends covered by
the Observatory’s research dedicated to your colleagues
A strategic discussion about your IoT insurance initiatives
and go-to-market with your executives
A presentation at any of your private events dedicated to a
group of your distributors, partners, or investors
9. 9
One-to-one workshops to deep-dive the more relevant aspects
for your company
20
Earned additional service fees
Security/ Safety
o Remote monitoring and
emergency services to provide
peace-of-mind
Care
o Remote monitoring and assistance
focused on specific health and
wellbeing needs directly
connected to households:
‒ Chronic patients
‒ Post surgery patients
‒ Elders
‒ Kids
‒ Pets
Solar panel
Lighting
Intrusion
alarm
Heating/
cooling
Thermostat
Flower
control
Computers &
electronics
Mould detector
Camera
Refrigerator
and freezer
Fire detection
Camera
Lock
Electric meter
Vacuum
cleaner
Washing
machine
Heat
exchanger
Auto value proposition
enlarged with a suite of
services telematics based
Home security and safety and
a platform of care services a la
carte
Alert in case speed
limits are exceeded Client assistance and
personalized case
management in case
of crash
Highway/parking
area tolling
Alert if the car is
hit when parked
Weather alert based
on geo-localization
Road or medical assistance
via dedicated button
Automatic assistance
to the client on the
premises in case
of severe accident
Simplified claim
notification, including
automatic form fill-in
based on telematics data
Claim
certification
at client’s
disposal
Short-
time
theft
cover
Parking
localiza-
tion
Bodyguard for
emergency outside
the car when parked
Antitheft service if the
box is removed/
uninstalled
Stolen vehicle
recovery
Alert in case the vehicle
is moved when the
engine is off (e.g. tow-
away)
Alert if the
car is hit
when
parked
1 3
2 4
5
6
7
8
9
10
11
12
13
14
15
16
ed
48
IoT-based solutions
Real time Reporting
Other information about
risk exposure
Claim
management
• Collisionand machine breakdown detection
(and position tracking) for proactive claim
management and assistance
• Set of objective information for claim
handling (including in court)
Hazard (indecent and near miss)
and remediation action
detection
Risk selection
• Amount and context of usage as input
for UW decisions (policy cancellation,
change of policy conditions, reinsurance,
…)
• Detected hazard and remediation
actions to support UW decisions (policy
cancellation, change of policy
conditions, reinsurance, …)
• Logged/missed inspection and safety
tasks as input for UW decision (policy
cancellation, change of policy
conditions, reinsurance, …)
Behavioral
change
• Detected hazards and remediation
actions as inputs to the loss control
team for the delivery of risk prevention
services to this policyholder
• Logged/missed inspection and safety
tasks as input to the loss control
team/supervisors and to employee
behavioral change programs
Safety (inspection/
maintenance) task completion
Real-time risk
mitigation
• Asset condition monitoring and warning
dispatch
• Risky situation (incoming collision)
detection and alerts to the employee
• Anti-theft solutions
• Alerts to supervisors for missed
inspection and safety tasks
Pricing
• Amount and context of usage as input
for the renewal pricing calculation
• Detected hazard and remediation
actions as input for renewal pricing
calculation
• Logged/missed inspection and safety
tasks as input for the renewal pricing
calculation
4
5
1
2
6
Prevention
Claims
Continuous
UW
Expensive agri-machines listed in the farm inventory are a target for IoT solutions
6
Telematics usage on commercial auto is at infancy
Source: IoT Insurance Observatory, represented the level of maturity of the most advanced market for each business lines
• First pilots focused on
one single use case
• Roll out by few
pioneers (with some
volumes)
• More pilots and
product lunches, by
greatest part of players
by using a "me-too"
approach
• Only few top players
understand IoT full
potential (UW, claims,
VAS), define their
own approach (e.g.
big data) and push to
sell more
• Commercial offer
differentiation
• IoT potential fully
understood and
increased commercial
push by all players
• Differentiating
solutions / providers
over top players
• Telematics approach
is the standard for the
insurance business
• Relationship
consolidation between
top players and
providers, cross-country
diffusion of best
practices
Incubation
phase
Growth
phase
Maturity
phase
Exploration
phase
Learning
phase
“What is the ROI of the use
case?"
"Does the approach
make sense?"
“What is the best way to do
it at my company?"
“How to extract more value
from the data?"
Personal
Auto
Commercial Auto
Commercial
Buildings
Homeowner
IIoT and
Workers’ Comp
25
Active rewards &
Apple Watch
Active Rewards
Baseline before
program introduction
Vs. Vs.
100
Level of physical activity (indexes as
100 the baseline before the program
introduction)
137 179
100
131 167
Source: Incentives and physical activity, Rand - 2018
This approach has showed a significant effectiveness in increasing the physical
activity level
34
The governance of economics of the IoT insurance paradigm is complex and also
requires a strong support from your financial department
Cash back, rewards, ..
Commission to distributors
$
Iot costs (hardware amortization,
installation, operative costs)
$
Insurer costs
Claims ($)
Discount valve
Premiums ($)
Service fees ($)
Service subsidization
valve Insurer
profitability
Loss ratio valve
Products, cash back, ..
From partners
Other shared
value valve
POLICYHOLDERs
$
$
Benefits from the
insurance IoT use cases
Iot Mastery
Pressure Gauge
Partner contribution
valve
Sources: IoT InsuranceObservatory
126
Service
fees paid
by the
customer
Traditional
bottom line
Street
value of
the IoT
services
Value
sharing
IoT
costs
Hardware
Services
Risk
prevention
Enhanced
Claim
Management
Continuous
Underwriting
Bottom
line with
IoT
Street value of the
IoT services
Discount and
incentives to the
customer
Intermediary
remuneration
Source: IoT Insurance Observatory
Partners’
contributions
Real-time
mitigation
Behavioral
Change
Risk
selection
Pricing
sophistic.
To achieve a positive ROI you will need to combine
deep business function expertise and cross-functional initiatives
A key element is to deeply understand business needs
10. 10
The workshop modules
Business lines Cross-business line topics
Personal auto
Homeowner
Life & Health
Commercial auto
Property
General liability
Workers’ compensation
Employee benefits
Extended warranty
Personal
lines
Commercial
lines
Senior
living
Agriculture
Retail
Manufacturing
Construction
Marine
Behavioral
change
Customer
experience,
wrapping services,
and new insurance
opportunities
IoT
architecture
Continuous
Underwriting
IoT-based innovation
journey
(IoT and leadership
capabilities)
Go to
market
Real time risk
mitigation
Ecosystems
ROI
management
Digital twins &
and new
information-
based business
MedMal
11. 11
Peer discussions at plenary symposiums
May 12th ’22 NJ
8.50 -
9.30
Innovation is the new Risk
Management: AXA XL
Construction Ecosystem -
Hall (AXA XL)
9.30 -
10.00
IoT usage to Innovate Med
Mal Insurance – Antier
(Relyens)
10.00
–
10.30
7 Trends in Insurance
Telematics - Morse (CMT)
10.30
-
11.00
OEM data in the evolution of
commercial telematics, Maco
(The Floow)
11.20
-
11.50
Durable Insurtech:
Wearables as the unfair adv-
antage – Elhawary (Kinetic)
and Anderson (Nationwide)
11.50
-
12.20
IoT - Moving to what matter
most: Engagement,
Retention, and Prevention,
Pockard (Earnix)
13.20
–
14.00
Methodical Approach to
Drive Business Value with
Analytics and IoT - Maddali
(Telenav)
14.00
–
14.30
Empowering the Industry's
Next with Swiss Re Solutions-
Pasricha (Swiss Re)
14.30
–
15.00
How telematics helps
manage real-time driver risk
and accelerate claims proces-
sing – Yeoman (Concirrus)
14.30
–
15.00
Smart home insurance
roundtable - Bales (Notion),
Jacobs (Nationwide), Paharia
(Allstate), Orbann (Travelers)
and Anderson (Catalyit)
LAST SESSIONS
Click
to view
May 19th ’22 Milan
9.20 -
10.05
Welcome to IBM - Margutti (IBM)
How are you preparing to thrive?
- Danesi (IBM)
IBM Vision: the future of
insurance - Bieck (IBM)
10.05 -
10.35
How smart hardware can boost
your telematics product, Kenber
and Vollmer (Swiss Re)
10.35 –
11.05
Seven trends in insurance
Telematics, Ivanov (CMT)
11.30 -
12.00
IoT and Real time data to support
Risk Management in industrial
risks, Zanardi (Axa XL)
12.00 -
12.30
IoT in agribusiness: precision
farming and insurance in the
cutting edge of innovation,
Menghi (Neosurance)
12.30 -
13.00
How telematics helps manage
real-time driver risk and
accelerate claims processing,
Dewar (Concirrus)
13.00 –
13.30
Health promotion and disease
prevention: Why behavioural
science matters, Cabrignac (Scor)
14.20 –
15.00
Focus on Healthcare -Skordby
(IBM)
Focus on Automotive - Velichety
(IBM)
15.00 –
15.30
Building winning connected
insurance products using OEM
data, James and Chalk (The Floow)
15.30 –
16.30
Telematics roundtable Quartara
(Societe Generale Insurance), Foti
(HDI), Lassa (Scor), Del Bo
(Movinx), Beninati (Reale Group);
Kisvarday (Earnix)
Sep 20th ’22 Vegas
8:30-
8:55
The Smart Home Revolution
– How Home Telematics Will
Re-Invent Insurance,
Kirkpatrick (State Farm)
8:57-
9:22
HDVI SHIFT 2.0 & INSURTECH
2.0– Witte (HDVI)
9:24 -
9:46
Commercial Auto Insurance
Innovation in Mexico: Jooycar
and SwissRe, Labbe (Jooycar)
and Briggs (Swiss Re)
9:48 -
10:10
Nationwide is partnering with
Razor Tracking for its
Agribusiness Bond
(Nationwide)
10:12-
10:34
New Models in Analyzing EV
through telematics”
McMahon (CMT)
11:04-
11:19
The Power of Telematics -
Pockard (Earnix)
11:21-
11:43
How Smart Home Can Drive
Risk Mitigation and Behavior
Change, Bales (Notion)
11:45-
12:07
Moving from recovery to
resilience: IoT to reduce the
risk of flooding for
commercial and municipal
properties, DeMarco
(Microsoft)
12:09-
12:54
Roundtable on the usage of
OEM data in the auto
insurance sector: Hernandez
(Nationwide), Marlow
(Allstate), Turner (The
Hartford), Monteforte (The
Floow)
12:54-
13:16
A Decade of Learning,
Listening, and Enhancing,
Stover (Nationwide)
Oct 13th ’22 Rome
10.00-
10.15
Introduction - Battista (Net
Insurance)
10.15-
10.45
Net Sure: a new proposition
for the connected home -
Pittana and Vignoletti (Net
Insurance)
10.45
-11.15
From ICE to EV – understand-
ding the changing risk
landscape - Wörle (Swiss RE)
11.15-
11.45
Next: the future of mobility -
Serra (Generali) and
Bergamini (Telepass)
12.15-
12.45
Innovation is Change,
Myszkowski (Talanx)
12.45-
13.45
Roundtable on the insurance
industry
innovation: Genovese (Swiss
Re), Vandewattijne (Ageas),
Antier (Relyens), Myszkowski
(Talanx)
14.30-
15.00
The maturity of the
autonomous driving and the
challenges of the insurance
sector: the experiences in
Italy of Reale Group -
Beninati (Reale Group)
12.15-
12.45
Combining OEM and
smartphone data to enhance
and create new propositions -
Monteforte (The Floow)
15.30-
16.00
How risk expertise is
empowered by technology to
tackle risks and help
customers in a world that is
becoming more and more
uncertain (focus on moving
assets) - Marinoni and
Klimczak (Axa XL)
Click
to view
Click
to view
Click
to view
Jan 18th ’23 NYC
10.30-
11.00
Presentation of Microsoft's
latest IoT Innovations, Jeffries
(Microsoft)
11.00-
11.30
Unorthodox Application of
IoT in Commercial Property
indurance, Meredith (FM
Global)
11.30-
12.00
Moving toward predict and
prevent: merging 1st party
and 3rd party data sources
for improved analytics,
Silverman and DeMarco
(Microsoft)
12.00-
12.30
From Zero to One: Creating
and Implementing Your IoT
Strategy, Ford and Bales
(Notion)
13.30-
14.30
Innovation Roundtable: Pick
(Tokio Marine), Sardinha
(Travelers), Lim (USAA), and
Briggs (Swiss Re). Moderated
by Jones (HSCM Ventures)
14.30-
15.00
What Does It Take To Be The
Most Customer-Centric
Insurance Company in The
World?, Millard (Vitality)
15.15-
15.45
Combining OEM and
smartphone data to enhance
and create new propositions -
Cook (The Floow)
15.45-
16.15
The new wave of telematics,
the future is here, Kowal
(Arity)
16.15-
16.45
Every Second Matters®:
Reducing Distracted Driving,
Mezerewski (Travelers) and
Morse (CMT)
Jan 25th ’23 Milan
10.30-
11.00
Digital Agriculture:
buzzword or game
changer?, Brini (Digital
Agriculture Works)
11.00
-
11.30
Artificial Intelligence
Insurance Use Cases,
Melpignano
(Neosperience)
11.30-
12.00
Driving Change: The
Surprising Power of
Incentives in Promoting
Safer and Cleaner Fleet
Operations, Miraglia (Keet)
12.20-
12.50
What policyholders think
of telematics - evidence
from a joint IoT
Observatory - Swiss Re
survey, Genovese (Swiss
Re)
12.50-
13.45
Roundtable on the usage
of OEM data in the auto
insurance sector:
Kuryłowicz (Warta), Serra
(Generali), Lassa (Scor),
and Monteforte (The
Floow)
14.30-
15.00
Unorthodox Application of
IoT in Commercial
Property Insurance,
Meredith (FM Global)
15.00-
15.30
How IoT helps FloodFlash
settle property flood
claims in under four hours,
Rimmer (FloodFlash)
15.30-
16.00
From Zero to One:
Creating and
Implementing Your IoT
Strategy, Bales (Notion)
Click
to view
Click
to view
13. 13
The connected
and sustainable
insurance
December '16
Connected
Insurance
Observatory
Unveiling the full
potential of telematics
May ‘17
Swiss Re
Smart Home
Insurance
April ‘19
American Family
Insurance &
IoT Insurance
Observatory
Attractive UBI
Business Models
for US Consumers
July ‘20
Cambridge Mobile
Telematics & IoT
Insurance Observatory
Some of the IoT Insurance papers published with Observatory members
The Best Connected
Insurance Value
Proposition for Europe
Feb ‘21
Cambridge Mobile
Telematics & IoT
Insurance Observatory
14. 14
Future of Insurance
August ‘16
Business Reporter
Connected Insurance Report
December ‘18
Insurance Nexus &
IoT Insurance Observatory
Some of the media visibility opportunities offered to the Observatory
members and their executives
From Risk Transfer to
Risk Prevention
May ’21
The Geneva Association
Insurance Is Getting Connected
August ’21
Carrier Management
Thought leadership articles
‘18-’19
Different medias
15. 15
Observatory
members
Direct and constant exposure to hundreds of key
executives involved in the IoT programs within the
members of the IoT Insurance Observatory (including 3
of the top five European insurance groups, 5 of the top
ten US P&C insurers, and 3 of the top five global
reinsurers)
Direct access to tens of thousand global executives
involved with insurance innovation (32K newsletter
subscribers and 200K LinkedIn and Twitter followers)
Carbone’s
direct network of
insurance executives
Visibility towards hundreds of thousand readers of the
insurance medias featuring Observatory’s contents
Global
insurance executives
Observatory members and their executives have a unique visibility
within the insurance innovation arena
16. 16
Some quotes from the Observatory participants
It gives telematics and IoT an awesome platform for collaboration, teaching, and knowledge sharing
The initiative provided though-provoking contents. The deep dive sessions were clear and stimulated
great engagement within the organization
Our journey has been going ‘hand in hand’ with your support and the insightful conversations held
over those years at the IoT Insurance Observatory, including our joint papers
When you read a press release or hear a speech at conference, you see only the shining side. It is great to have
the rationalization that connects dots, and investigates also what has not worked well
We appreciate the insights, examples, and best practices you and the Observatory community bring
forward to help us shape our journey
A great support in rationalizing the different opportunities for using IoT data in our business and
defining a roadmap for our business transformation
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
The Observatory is creating value for us. We met insurers that have started to
work with us. It is also useful to have a constant update on the markets around
the world
Rich information as well as thought provoking analysis and perspective. An
unbiased platform that focuses on truly learning and embracing IoT. His ability to
bring others together and to share thoughts and experiences is extremely valuable
Insurer
Insurer
Reinsurer
Insurer
Insurer
Insurer
IT provider
IoT Insurtech
startup
Insurer
17. 17
Contacts
Matteo.carbone@iotinsobs.com
+39 (334) 622- 0378
+1 (929) 309-6026
Matteo Carbone
Founder and Director of the IoT Insurance Observatory
Keynote speaker and writer on insurance innovation
Global InsurTech Influencer (Top 3 InsurTech Influencer by InsurtechNews, Top 3 InsurTech
and Top 10 Telematics Influencer by Right Relevance, Top 10 InsurTech and top 4 InsurTech
influencers in the fintech community by Onalytica)
www.IoTinsObs.com