This document discusses the growth of usage-based insurance (UBI) using telematics data collected from devices installed in vehicles. It outlines how early adopters of telematics are seeing benefits from more accurate risk assessment and pricing. Telematics allows insurers to move beyond traditional factors like gender and age to price policies. The document also describes how telematics could transform claims processes by automating aspects like first notice of loss and estimating repairs. While implementation challenges remain, telematics offers potential for improved customer relationships, fraud detection, and significant returns on investment for insurers that pioneer this technology.
The New Auto Insurance Ecosystem: Telematics, Mobility and the Connected CarCognizant
1. The document discusses the emergence of telematics and usage-based insurance (UBI) programs, which use data from connected cars and devices to more accurately assess driver risk and reward safe driving.
2. It notes that embedded telematics, smartphones, and regulatory changes are driving more adoption of UBI by insurers and customers. Insurers can benefit from better risk assessment and claims processing, while customers can receive lower premiums for safe driving.
3. The growth of telematics is expected to create new opportunities for insurers to engage customers through mobile apps and services, helping to build loyalty and competitive advantage.
Why Mobility Matters to U.S. P&C InsurersCognizant
Insurers that holistically embrace mobility to improve customer service and internal operations can gain competitive advantage, even in a difficult economy.
The document discusses how digitization is transforming the insurance industry. It is putting pressure on life/pensions and property/casualty insurers to improve customer experience through digital channels. Customers now expect seamless, personalized experiences through mobile and online access. Insurers need to leverage new technologies like analytics, cloud computing, and the internet of things to meet these rising expectations and compete in the digital era. Data and digitization offer opportunities to better understand customers, price policies dynamically, and automate processes, but insurers must also address challenges of security, regulation and building customer trust.
This document summarizes a report by Deloitte on the challenges and opportunities facing auto insurers regarding usage-based insurance (UBI) programs using telematics. It finds that the auto insurance market can be divided into three segments based on willingness to participate in UBI programs: eager beavers (26% willing without a discount), fence sitters (27% willing with a high enough discount), and naysayers (47% unwilling under any circumstances). Younger drivers aged 21-29 are more open to UBI, while discount expectations vary more by gender. The findings suggest the UBI market may bifurcate over time between those monitored under new pricing models and those served through traditional methods.
2015 UBI Research Results for the Consumer Market - LexisNexisLudovic Privat
The 2015 Annual LexisNexis Consumer UBI Study was conducted with over 4,000 total consumers to test existing and new concepts in the market. Some of the findings included:
Overall consumer awareness has leveled off since 2013, suggesting that carriers should consider alternative ways of presenting UBI to consumers
Discounting deductibles, rather than premiums, could be a more sustainable and profitable way to drive adoption
Messaging around safety may be even more effective than a discount-centric approach
Also included is a case study illustrating how AAMI, a leading Australian insurer, launched a highly successful UBI campaign without a discount.
IMS Presentation at Insurance Telematics USA 2012 - Chicago - September 5, 2012Blair Currie
This document discusses the evolution of usage-based insurance (UBI) from version 1.0 to 2.0. UBI 2.0 will leverage connected car technologies, focus on profitability through pricing and customer relationship management rather than just cost reduction, and involve in-vehicle communications. It presents a model for the UBI value chain consisting of intelligence, analytics, devices/deployment, and business foundation. It also outlines best practices for UBI including making adoption and retention key performance indicators, finding new reasons for customer adoption beyond discounts, and encouraging telematics as the long-term solution.
Ericsson white paper - Device connectivity unlocks valueEricsson France
1) The document discusses opportunities for mobile operators to generate new revenue through machine-to-machine (M2M) and consumer device connectivity services.
2) It notes that the number of connected devices is increasing rapidly and will outnumber people within the next decade, creating vast opportunities for operators.
3) To capitalize on these opportunities, operators will need cost-efficient and flexible solutions that allow for customization and differentiation to serve the diverse needs of various market segments in a highly scalable way.
Emerging technologies and industry ecosystems are enabling automotive makers to deliver an immersive information experience that transcends the boundaries of traditional vehicular transport.
The New Auto Insurance Ecosystem: Telematics, Mobility and the Connected CarCognizant
1. The document discusses the emergence of telematics and usage-based insurance (UBI) programs, which use data from connected cars and devices to more accurately assess driver risk and reward safe driving.
2. It notes that embedded telematics, smartphones, and regulatory changes are driving more adoption of UBI by insurers and customers. Insurers can benefit from better risk assessment and claims processing, while customers can receive lower premiums for safe driving.
3. The growth of telematics is expected to create new opportunities for insurers to engage customers through mobile apps and services, helping to build loyalty and competitive advantage.
Why Mobility Matters to U.S. P&C InsurersCognizant
Insurers that holistically embrace mobility to improve customer service and internal operations can gain competitive advantage, even in a difficult economy.
The document discusses how digitization is transforming the insurance industry. It is putting pressure on life/pensions and property/casualty insurers to improve customer experience through digital channels. Customers now expect seamless, personalized experiences through mobile and online access. Insurers need to leverage new technologies like analytics, cloud computing, and the internet of things to meet these rising expectations and compete in the digital era. Data and digitization offer opportunities to better understand customers, price policies dynamically, and automate processes, but insurers must also address challenges of security, regulation and building customer trust.
This document summarizes a report by Deloitte on the challenges and opportunities facing auto insurers regarding usage-based insurance (UBI) programs using telematics. It finds that the auto insurance market can be divided into three segments based on willingness to participate in UBI programs: eager beavers (26% willing without a discount), fence sitters (27% willing with a high enough discount), and naysayers (47% unwilling under any circumstances). Younger drivers aged 21-29 are more open to UBI, while discount expectations vary more by gender. The findings suggest the UBI market may bifurcate over time between those monitored under new pricing models and those served through traditional methods.
2015 UBI Research Results for the Consumer Market - LexisNexisLudovic Privat
The 2015 Annual LexisNexis Consumer UBI Study was conducted with over 4,000 total consumers to test existing and new concepts in the market. Some of the findings included:
Overall consumer awareness has leveled off since 2013, suggesting that carriers should consider alternative ways of presenting UBI to consumers
Discounting deductibles, rather than premiums, could be a more sustainable and profitable way to drive adoption
Messaging around safety may be even more effective than a discount-centric approach
Also included is a case study illustrating how AAMI, a leading Australian insurer, launched a highly successful UBI campaign without a discount.
IMS Presentation at Insurance Telematics USA 2012 - Chicago - September 5, 2012Blair Currie
This document discusses the evolution of usage-based insurance (UBI) from version 1.0 to 2.0. UBI 2.0 will leverage connected car technologies, focus on profitability through pricing and customer relationship management rather than just cost reduction, and involve in-vehicle communications. It presents a model for the UBI value chain consisting of intelligence, analytics, devices/deployment, and business foundation. It also outlines best practices for UBI including making adoption and retention key performance indicators, finding new reasons for customer adoption beyond discounts, and encouraging telematics as the long-term solution.
Ericsson white paper - Device connectivity unlocks valueEricsson France
1) The document discusses opportunities for mobile operators to generate new revenue through machine-to-machine (M2M) and consumer device connectivity services.
2) It notes that the number of connected devices is increasing rapidly and will outnumber people within the next decade, creating vast opportunities for operators.
3) To capitalize on these opportunities, operators will need cost-efficient and flexible solutions that allow for customization and differentiation to serve the diverse needs of various market segments in a highly scalable way.
Emerging technologies and industry ecosystems are enabling automotive makers to deliver an immersive information experience that transcends the boundaries of traditional vehicular transport.
The document discusses usage-based automobile insurance and consumer sentiment regarding insurance policies and telematics programs. It finds that consumers are most positively engaged when discussing savings from insurance discounts. However, they often complain about the process of shopping for insurance and poor customer service. The document also examines discussions around Progressive's Snapshot program, finding that while consumers like potential discounts, many are concerned about rates increasing or privacy issues. Overall consumers express a need for more education around usage-based insurance models.
Insurance Mobility Business Strategy: A Roadmap and Implementation ApproachCognizant
We produce a strategic framework for mobility implementation for insurers including a self-assessment mobility maturity index. Our insurance mobility roadmap includes users, application, platforms, products and functions.
Discover how the intersection of analytics and telematics can create new revenue for your business in the white paper "Telematics for Insurance" http://ibm.co/1GLLfYP.
This document provides an overview of the Churn Modeling Tournament organized by the Teradata Center for Customer Relationship Management at Duke University. The tournament aims to predict customer churn, or voluntary termination of service, using data from a major wireless telecommunications company. Participants will submit predictions for validation data sets and the most accurate predictions will win cash prizes. The organizers also seek to determine the most effective predictive modeling methodologies through a meta-analysis of the results.
Learn How to Prepare for Usage Based Insurance Roll-OutRuthana Foulkes
The document discusses usage-based auto insurance and telematics. It outlines key drivers for adoption, including lower technology costs and customer appeal. It also outlines the benefits for customers, including lower premiums, and insurers, including better risk assessment. Finally, it discusses important considerations for implementing a usage-based insurance product, including device specifications, data collection and analysis, and adding value-added services.
The full potential of insurance telematicsMatteo Carbone
Auto telematics represents the most mature insurtech use case, as it has already passed the test and experimentation phase within the innovation unit. It is currently being used an instrument for daily work within motor insurance business units. In this domain, Italy is an international best practice example
This white paper proposes an "Infotainment Evangelism Concept" to help accelerate the in-vehicle infotainment market. It involves identifying strengths across regions, engaging all stakeholders, and providing a comprehensive solution to address automakers' needs. A new "evangelist" role would work across North America, Europe, and Asia to promote common strategies, demonstrate solutions, and help align the industry around open standards. The goal is to help major technology companies drive standards adoption and attract automakers seeking more affordable and customizable infotainment options.
Presentation: Distribution Channels for Life Insurance, A Global PerspectiveIntelligo Consulting
Presentation at the 2nd Annual Life Insurance Forum, Amsterdam, 9-10 April 2014
- Bancassurance as a major distribution channel for life insurance
- Consumer research: distribution of protection-related life insurance in Europe
- The global market for creditor / creditor life insurance
Will fintech newcomers disrupt health and home insurance? Matteo Carbone
Fintech companies are looking to disrupt health and home insurance through new technologies like wearables and connected home devices. Insurers can leverage these technologies to improve risk assessment, offer value-added services, enhance the customer experience, and implement behavior-based pricing models. Examples include Oscar's health insurance app that rewards healthy behaviors, Medibank's wellness services that boost sales, and home insurers installing sensors to better manage risks and offer additional home services. Integrating emerging technologies presents opportunities for insurers to generate value across the insurance lifecycle.
The document summarizes trends in customer integration in the automotive supply chain. Technological advances like telematics and embedded systems are allowing greater integration of customers into the supply chain through services like remote diagnostics. This will allow automakers to develop more customer touchpoints and interactions across the vehicle lifecycle to improve customer loyalty and generate more revenue from aftermarket services. The future is envisioned where sensors and telematics will enable predictive maintenance and automated problem resolution, enhancing the customer experience.
This document summarizes an insurance telematics survey and presentations on usage-based vehicle insurance. It begins by inviting the reader to complete a 10-minute survey on vehicle insurance telematics by clicking a provided link. It then states that completing the survey will provide access to two exclusive presentations and selected survey findings once the data is analyzed. It notes that the survey can be completed anonymously.
With support by the CII, Marketforce launched this special report providing a snapshot of the challenges and opportunities the industry is facing - and how to prepared it is to meet them.
Based on responses from over 1000 senior insurers, in this report you will find dedicated chapters on digital, analytics, operations, claims, fraud and more.
Would you like to meet like-minded insurers? On November 7th, 8th and 9th we're holding our 16th annual The Future of General Insurance conference.
Find out more about the event here: http://bit.ly/1TKDIgQ
7 Ways Insurance Brokers Should Approach InsurTechSiren Group
“InsurTech” is a term used quite often these days – a spin-off of the even more popular word “FinTech.” It refers to technologies and platforms. These platforms can help optimize any of the principles for success or requirements of insurance.
InsurTech encompasses companies that provide insurance, but engage technology in a user-centric way.
Here are 7 ways of making InsurTech the heart of your business:
Mobile Device Makers Expand to Mobile InternetIBMElectronics
Mobile device makers are looking to develop new avenues to expand their core device offerings. The growing market for mobile Internet services may revitalize MDM growth and send them profitably.
M2M Revenue management - Transforming the M2M promise into profitVangelis Foukalas
M2M Revenue management - Transforming the M2M promise into profit.
Intracom Telecom INTERVIEW June 2014.
Efficiently address the challenge of M2M monetization.
The key role of CSPs in the emerging M2M supply model.
Connected Vehicles—Service Providers: Service Providers at a Crossroads Andreas Mai
This document discusses the opportunities and challenges for service providers in the emerging connected vehicles industry. It argues that connecting vehicles could generate over $50 billion in annual revenue for service providers by 2022 as nearly 300 million cars transmit over 400 million gigabytes of data per month. However, service providers must develop new business models to avoid commoditization and fund the hardware and connectivity needed to securely connect vehicles across networks. Cooperation with automakers will be key to ensuring vehicles can roam across carriers and technologies.
Enforcing accountability in media using blockchainRob Van Den Dam
The document discusses how blockchain technology can be used to improve processes in the media and entertainment industry supply chain. It provides examples of how blockchain is being used by royalty collection agencies to more accurately track content and royalty payments. Blockchain can streamline various operational aspects like auditing, payments, and rights management by introducing transparency and eliminating inefficiencies. The document also discusses how blockchain could improve transparency and efficiency in digital advertising by providing visibility into media buys and tracking ad impressions through the entire delivery process.
The document discusses the state of the U.S. mobile advertising industry and what lies ahead. It introduces three presenters from comScore, the Mobile Marketing Association, and Where, Inc. The presentation covers the current understanding of mobile marketing, mobile media data and insights, and case studies of large brands' hyper-local mobile advertising uses and best practices. It provides an overview of trends in the mobile advertising market in the U.S. and globally, including the growth of mobile video, apps, and the shift from SMS to in-app mobile ads.
The document discusses the state of the U.S. mobile advertising industry and what lies ahead. It provides an overview of the presenters from comScore, the Mobile Marketing Association, and Where, Inc. The agenda covers understanding mobile marketing, insights into the mobile advertising opportunity from mobile media data, and best practices from major brands' hyper-local mobile campaigns.
Did you know that your valuables might not be covered by your landlord’s or homeowner’s association policy in the event of theft or damage? If you are renting an apartment, home, or condo, you can protect your family with Driver’s Choice.
The document discusses usage-based automobile insurance and consumer sentiment regarding insurance policies and telematics programs. It finds that consumers are most positively engaged when discussing savings from insurance discounts. However, they often complain about the process of shopping for insurance and poor customer service. The document also examines discussions around Progressive's Snapshot program, finding that while consumers like potential discounts, many are concerned about rates increasing or privacy issues. Overall consumers express a need for more education around usage-based insurance models.
Insurance Mobility Business Strategy: A Roadmap and Implementation ApproachCognizant
We produce a strategic framework for mobility implementation for insurers including a self-assessment mobility maturity index. Our insurance mobility roadmap includes users, application, platforms, products and functions.
Discover how the intersection of analytics and telematics can create new revenue for your business in the white paper "Telematics for Insurance" http://ibm.co/1GLLfYP.
This document provides an overview of the Churn Modeling Tournament organized by the Teradata Center for Customer Relationship Management at Duke University. The tournament aims to predict customer churn, or voluntary termination of service, using data from a major wireless telecommunications company. Participants will submit predictions for validation data sets and the most accurate predictions will win cash prizes. The organizers also seek to determine the most effective predictive modeling methodologies through a meta-analysis of the results.
Learn How to Prepare for Usage Based Insurance Roll-OutRuthana Foulkes
The document discusses usage-based auto insurance and telematics. It outlines key drivers for adoption, including lower technology costs and customer appeal. It also outlines the benefits for customers, including lower premiums, and insurers, including better risk assessment. Finally, it discusses important considerations for implementing a usage-based insurance product, including device specifications, data collection and analysis, and adding value-added services.
The full potential of insurance telematicsMatteo Carbone
Auto telematics represents the most mature insurtech use case, as it has already passed the test and experimentation phase within the innovation unit. It is currently being used an instrument for daily work within motor insurance business units. In this domain, Italy is an international best practice example
This white paper proposes an "Infotainment Evangelism Concept" to help accelerate the in-vehicle infotainment market. It involves identifying strengths across regions, engaging all stakeholders, and providing a comprehensive solution to address automakers' needs. A new "evangelist" role would work across North America, Europe, and Asia to promote common strategies, demonstrate solutions, and help align the industry around open standards. The goal is to help major technology companies drive standards adoption and attract automakers seeking more affordable and customizable infotainment options.
Presentation: Distribution Channels for Life Insurance, A Global PerspectiveIntelligo Consulting
Presentation at the 2nd Annual Life Insurance Forum, Amsterdam, 9-10 April 2014
- Bancassurance as a major distribution channel for life insurance
- Consumer research: distribution of protection-related life insurance in Europe
- The global market for creditor / creditor life insurance
Will fintech newcomers disrupt health and home insurance? Matteo Carbone
Fintech companies are looking to disrupt health and home insurance through new technologies like wearables and connected home devices. Insurers can leverage these technologies to improve risk assessment, offer value-added services, enhance the customer experience, and implement behavior-based pricing models. Examples include Oscar's health insurance app that rewards healthy behaviors, Medibank's wellness services that boost sales, and home insurers installing sensors to better manage risks and offer additional home services. Integrating emerging technologies presents opportunities for insurers to generate value across the insurance lifecycle.
The document summarizes trends in customer integration in the automotive supply chain. Technological advances like telematics and embedded systems are allowing greater integration of customers into the supply chain through services like remote diagnostics. This will allow automakers to develop more customer touchpoints and interactions across the vehicle lifecycle to improve customer loyalty and generate more revenue from aftermarket services. The future is envisioned where sensors and telematics will enable predictive maintenance and automated problem resolution, enhancing the customer experience.
This document summarizes an insurance telematics survey and presentations on usage-based vehicle insurance. It begins by inviting the reader to complete a 10-minute survey on vehicle insurance telematics by clicking a provided link. It then states that completing the survey will provide access to two exclusive presentations and selected survey findings once the data is analyzed. It notes that the survey can be completed anonymously.
With support by the CII, Marketforce launched this special report providing a snapshot of the challenges and opportunities the industry is facing - and how to prepared it is to meet them.
Based on responses from over 1000 senior insurers, in this report you will find dedicated chapters on digital, analytics, operations, claims, fraud and more.
Would you like to meet like-minded insurers? On November 7th, 8th and 9th we're holding our 16th annual The Future of General Insurance conference.
Find out more about the event here: http://bit.ly/1TKDIgQ
7 Ways Insurance Brokers Should Approach InsurTechSiren Group
“InsurTech” is a term used quite often these days – a spin-off of the even more popular word “FinTech.” It refers to technologies and platforms. These platforms can help optimize any of the principles for success or requirements of insurance.
InsurTech encompasses companies that provide insurance, but engage technology in a user-centric way.
Here are 7 ways of making InsurTech the heart of your business:
Mobile Device Makers Expand to Mobile InternetIBMElectronics
Mobile device makers are looking to develop new avenues to expand their core device offerings. The growing market for mobile Internet services may revitalize MDM growth and send them profitably.
M2M Revenue management - Transforming the M2M promise into profitVangelis Foukalas
M2M Revenue management - Transforming the M2M promise into profit.
Intracom Telecom INTERVIEW June 2014.
Efficiently address the challenge of M2M monetization.
The key role of CSPs in the emerging M2M supply model.
Connected Vehicles—Service Providers: Service Providers at a Crossroads Andreas Mai
This document discusses the opportunities and challenges for service providers in the emerging connected vehicles industry. It argues that connecting vehicles could generate over $50 billion in annual revenue for service providers by 2022 as nearly 300 million cars transmit over 400 million gigabytes of data per month. However, service providers must develop new business models to avoid commoditization and fund the hardware and connectivity needed to securely connect vehicles across networks. Cooperation with automakers will be key to ensuring vehicles can roam across carriers and technologies.
Enforcing accountability in media using blockchainRob Van Den Dam
The document discusses how blockchain technology can be used to improve processes in the media and entertainment industry supply chain. It provides examples of how blockchain is being used by royalty collection agencies to more accurately track content and royalty payments. Blockchain can streamline various operational aspects like auditing, payments, and rights management by introducing transparency and eliminating inefficiencies. The document also discusses how blockchain could improve transparency and efficiency in digital advertising by providing visibility into media buys and tracking ad impressions through the entire delivery process.
The document discusses the state of the U.S. mobile advertising industry and what lies ahead. It introduces three presenters from comScore, the Mobile Marketing Association, and Where, Inc. The presentation covers the current understanding of mobile marketing, mobile media data and insights, and case studies of large brands' hyper-local mobile advertising uses and best practices. It provides an overview of trends in the mobile advertising market in the U.S. and globally, including the growth of mobile video, apps, and the shift from SMS to in-app mobile ads.
The document discusses the state of the U.S. mobile advertising industry and what lies ahead. It provides an overview of the presenters from comScore, the Mobile Marketing Association, and Where, Inc. The agenda covers understanding mobile marketing, insights into the mobile advertising opportunity from mobile media data, and best practices from major brands' hyper-local mobile campaigns.
Did you know that your valuables might not be covered by your landlord’s or homeowner’s association policy in the event of theft or damage? If you are renting an apartment, home, or condo, you can protect your family with Driver’s Choice.
Usage based Insurance -UBI- in numbers. Infographic of the state of the market today for PAYD and PHYD. April 2014 update from the UBI Global Study published by PTOLEMUS
This presentation was made in September 2003 at the Telematics Conference SSE by Ptolemus to highlight the potential of Telematics Insurance in the area.
This document discusses how big data is impacting the insurance industry. It covers how insurers are using big data across the insurance value chain, from underwriting to pricing to claims management and fraud detection. Insurers are able to create more comprehensive customer profiles by combining internal and external data sources. This allows for more personalized insurance offerings and pricing models like usage-based insurance. The document also provides examples of insurers that are leveraging telematics data and innovative technologies to improve their business operations and customer experience.
Usage-based Insurance (UBI) is a rapidly growing market. Find out here the basics and how the UBI global study can help you start or grow your Telematics Insurance offering.
UBI reports are usually short and expensive. PTOLEMUS provides you with the best UBI intelligence through a 770 pages reference document.
This document provides an overview of usage-based insurance (UBI) and the connected car services market. It discusses the basic principles of insurance telematics, how UBI uses dynamic driving data like distance, time, place, and behavior to evaluate risk. It examines case studies of several UBI providers that have seen claims reductions and premium discounts. It also outlines the growing global UBI market, potential for third parties like automakers to offer additional services using vehicle data, and concludes that insurance is well-positioned to connect most vehicles and accelerate synergies between services.
Presentation made at the SMi conference in Feb 2015.
The internet of things effect on the insurance sector
Smartphonisation of UBI
Share of devices used in UBI by 2020
OEM activities in UBI
New players and supply chain disruption
Last Week’s session - “IoT – Connected Car – Technology Trends & Opportunities” covered a trending topic that promises to disrupt the transportation industry, as we know it. Here are the key Lounge47 takeaways:
1. Connected Cars are vehicles that use any from a range of communication technologies to communicate a) with the driver b) with other cars on the road (vehicle-to-vehicle (V2V)) c) road infrastructure (vehicle-to-infrastructure (V2I)) and d) the “Cloud” 2. Status today? a) Only a fraction of future automated and connected vehicle technologies are available today b) Although individual aspects of the connected driving experience are established the integrated whole is not c) The public today only enjoys up to level 2 on a 5 level scale of 0 to full automation. Level 4 vehicles are however being tested 3. 2014 milestones: a) Google and Apple target the car dashboard with 'Android Auto' and 'Carplay' platforms b) Google makes autonomous cars real with its self driving car d) Automotive companies begin to take customer data protection seriously e) Vehicle-to-Vehicle (V2V) technology gets the regulatory nod 4. Questions: Is the car the new Tech battleground? Will there be an Apple car? What business models will prevail? Are Uber-like companies preparing the market for the self-driving car? Would Self-driving cars make owning a car a thing of the past? 5. Benefits: a) Savings in terms of increased people productivity b) reduced gasoline usage due to efficient driving c) reduced road infrastructure maintenance d) Increased safety 6. Challenges: a) Developing a UI/UX that minimizes driver distraction b) Customer Data security c) In-car and remote cyber crime d) Liability – where does it sit? 7.Opportunities: a) In-car data that could serve consumers, drivers themselves, marketers, hardware manufactures, car companies and insurance companies b) Aftermarket solutions c) IoT products & solutions. 47b market today set to grow to 270b USD by 2020. Revenue potential per connected car estimated to be 1400 USD/vehicle/year 8. Opportunities in India: The Indian market will take time to mature. In the short-term: a) Parking Management b) Connected Infrastructure (e.g. smart cities) c) Insurance – Usage Based Insurance, driving pattern monitoring & support d) Radio Taxi Service – e.g. Ola, Uber e) Transportation as a Service – Personal mobility, Goods mobility f) Service Stations - cloud-based diagnostics & preventive care g) Battery technologies – Charging stations offer opportunities. In summary - realization of the Connected Car vision and the benefits it brings hinges not on the technology challenges but on whether it will win consumer acceptance and trust.
www.lounge47.in
Claimcompass is a company that helps customers get compensation from airlines for flight disruptions like delays or cancellations. They have recovered $500,000 for customers in the past 90 days, generated $125,000 in revenue, and are experiencing 75% monthly growth. Claimcompass automates the claim process and takes a 25% commission of recovered funds.
Gymhit is an all-in-one management platform for the fitness industry that aims to address problems with antiquated, disjointed, and poor reputation systems currently used. The platform allows for integrated, automated, and virtual management of fitness businesses and their 2 million customers across a $105 billion industry. It is currently used by over 5,000 accounts, generates $25,000 in monthly recurring revenue, and serves 148,000 users.
The document discusses trends in the gourmet coffee market including rising market share from 2010-2016, upcoming growth of craft roasters, and increasing penetration of craft coffee among 25-39 year olds similar to craft beer. It also provides metrics for an unnamed company showing 28% month-over-month growth, $17k in gross merchandise value, and a customer acquisition cost to lifetime value ratio of 1:3.
This document discusses various fees associated with load and pay services including load fees, purchase data fees, and chargeback fees. Customers who use load and pay services may be subject to fees for loading funds, purchasing items with loaded funds, and any chargebacks or reversals of completed purchases.
The document discusses a construction management software called iControl that aims to reduce the 4 billion hours spent annually writing construction reports by cutting the time in half. It has $45k in monthly recurring revenue, 20% month-over-month growth, and sees potential to increase revenue to $4.5 billion serving the 4.8 million construction workers who write daily reports. The company's team of 8 founders have previous experience in construction software.
This document describes a payment platform called Gas Pos for the fuel industry. It has received over $950,000 in funding to date and $5 million in vendor financing. Gas Pos offers a modern payment system for gas stations, partnering exclusively with Clover, Inc. for the fuel space. The total addressable market for this solution is $35 billion annually. The CEO and President have extensive experience in retail automation and payments system development.
The document discusses mobile app revenues which increased 20.3% in 2016 to reach $37.7 billion according to research firm Gartner. A chart is shown with y-axis labels of 100, 250, 500, 1000 and x-axis labels of Sep 16, Sep 23, Sep 30, Oct 7, Sep 14, Oct 21.
Owlr is a company that aims to improve security camera systems by making them easier to set up and use and providing better security. They currently service over 250,000 households with 1 million cameras in a $7.3 billion market. Owlr was founded by CEO Sanford Dickert who has engineering degrees from Purdue and Stanford and CTO Chris Jenkins who has a computer science degree with a focus on robotics.
The document discusses a company called OpenDoor that helps address the issue of millennials being unable to afford living in cities by themselves. OpenDoor builds community for people by managing roommate rentals, generating $50k in monthly recurring revenue from 3 properties and having plans to scale further by partnering with developers to manage bedrooms in apartment buildings. The company aims to operate efficiently with zero vacancy loss, low monthly user churn, and 100% referral rates.
Nationwide Insurance - Using a Decade of Learnings to Create Next-Generation ...Matteo Carbone
The document discusses Nationwide's efforts to expand usage-based insurance (UBI) programs beyond simple discount-only approaches. It summarizes Nationwide's two main UBI programs, SmartRide and SmartMiles, which use telematics data collected from mobile apps and OBD devices to provide discounts and pay-per-mile premiums. The document also discusses how Nationwide is exploring integrating telematics data across other insurance processes and using it to offer discounts on other insurance products like homeowners insurance. Nationwide's programs demonstrate the potential for telematics to more accurately price insurance and positively impact customer behaviors.
The document discusses how data and technology are transforming the insurance industry. It covers topics like how insurers are using data from telematics, health apps, and other sources to better assess risk and offer more personalized premiums. This allows for pricing tailored to individuals based on their behavior rather than just demographics. However, increased data collection also raises privacy concerns for consumers about what data is being collected and how it will be used and secured. Insurers are aiming to address these concerns through transparency about their data practices while harnessing new sources of data to improve their business.
Telematics - The Secret to Lower Combined Ratios and a New Model for Auto Ins...Matteo Carbone
The document discusses how expanding telematics programs for auto insurance can significantly improve insurers' combined ratios and profitability. It outlines that telematics programs have the potential to lower combined ratios by 5 percentage points if offered to all policyholders through a value-added services model focused on safe driving rewards and services. The document also describes the necessary technology architecture and considerations for making such an expanded telematics program cost-effective and scalable.
The document discusses how big data and telematics technologies can transform the motor insurance industry in the Middle East. It notes that while consumers are willing to share their data in exchange for cheaper premiums, the insurance sector has lagged in utilizing big data compared to other industries. Telematics allows insurers to more accurately price policies based on driving behavior data and can help improve road safety. Adopting these technologies represents a major opportunity for motor insurers in the Middle East to improve their business models, customer experience, and gain a competitive advantage. However, privacy concerns and high data costs currently pose barriers to their implementation in the region.
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 is disrupting the insurance industry in three main ways: 1) Through hyper-personalized insurance products enabled by new data sources and customer data; 2) New competitors like insurtech companies and other industries entering insurance; 3) Emergence of new data sources and technologies that allow for new types of products and more customer-centered experiences. Insurers must leverage semantic graph technologies and data fabrics to integrate diverse new data sources, gain insights from data to develop new products and services, and remain competitive against new entrants.
Insurance Cloud: From Tactical to Strategic Investment for European InsurersAccenture Insurance
Insurance companies have been relatively cautious about cloud adoption. However, the conversation among insurers has changed in the last few years, moving to “when and how” rather than “why.” Several factors are driving today’s insurance companies to move their applications and data into the cloud as they reassess their business opportunities. Learn more:
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.
Technology and Innovation in Insurance– Present and Future Technology in Indi...Dr. Amarjeet Singh
Insurance companies are unique — most of their interactions with customers happen through an agent. In effect, a chunk of technology investment goes into improving agent experience. Insurers have developed systems to advise agents on products tailored for specific customers, depending on their history with the insurer and income band. Bajaj Allianz Life Insurance has a mobile app to hire agents. This helps in training, exams and licensing. It has brought on board 15,700 consultants digitally in the past year, cutting down processing time by half.
Insurers have launched mobile phone apps, making it easier for customers to transact with them. They are, slowly and surely, moving towards paperless claims as well. These are, however, only the first steps in digital transformation. Changing core systems is expensive and complicated. So, most transformation initiatives focus on improving systems of engagement with customers.
With the constant advancements and better use of digital tools in the last few years; most of these challenges seem to be addressed efficiently. While technologies such as Robotic Process Automation (RPA), Artificial Intelligence (AI), Block chain, and Advanced Analytics are working as promoters to enhance the importance of insurance, the insurers are working hard to create a more streamlined and integrated insurance system.
The report from Deloitte finds that while the insurance industry faces challenges from a soft market, pricing pressures, and increased competition, there are opportunities for growth through innovation. Insurers need to pursue new strategies beyond just cost cutting, including improving their distribution channels, developing new products for retiring and younger customers, and utilizing new technologies like analytics tools and virtualization to reduce costs and develop insights from data. Deloitte recommends insurers focus on developing enterprise-wide programs to reduce costs through offshoring and outsourcing while also creating new products and services.
Mobile insurance are you well positioned for this emerging channelRick Bouter
1. Mobile offers opportunities for insurers to interact with and service existing and new customers through apps, but most insurance apps currently have limited features and do not provide seamless multi-channel experiences.
2. Insurers are now looking to move to the next level of maturity by better integrating mobile apps and defining clear objectives, sustainable app strategies, and adapting to customers' preferences and evolving mobile trends.
3. Some insurers have started using mobile to increase efficiencies, such as through claims processing apps, and to offer customized products using location-based data, but generating revenue directly from mobile channels is still a lesser priority currently.
The document discusses the key shifts underway in the insurance industry as it transitions to a digital model. Empowered consumers demanding personalized experiences, innovative competitors, and new technologies are driving insurers to move from a policy-centric model to one focused on the customer. Insurers must utilize data and analytics to develop new products that anticipate customer needs and can be purchased through any channel. They also need to build ecosystems of partners and modernize legacy systems to keep pace with these changes and remain competitive in the digital insurance landscape.
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.
1. Smartphones have become the dominant internet device in the UK, used by 66% of people. The insurance industry could benefit from adopting mobile trends to better engage with customers.
2. Insurance companies should aim to be more customer-centric, engage in two-way dialogs, adopt agile models and increase awareness through personalized mobile content.
3. While insurance has traditionally been paper-based, mobile provides opportunities for customer insights, personalization, and social media engagement that companies should pursue.
This document provides an overview of omnichannel approaches in the insurance sector. It discusses how Progressive Insurance has been an early adopter of digital customer experiences, while State Farm has been slower to integrate its divisions digitally. The document also examines trends in the insurance sector triggered by omnichannel advances, such as the development of sophisticated mobile apps and the blurring of direct and agent sales channels. Finally, it explores how insurers can use omnichannel techniques for both customer acquisition and retention.
Great Wireless Way, Best's Review, November 2000Gates Ouimette
Mobile commerce has the potential to impact insurers' distribution channels and increase market valuation by enabling business transactions anytime and anywhere through the convergence of the internet, enterprise applications, and wireless technologies. It allows claims adjusters and medical practitioners to capture customer data on-site using mobile devices and complete transactions in real-time. The biggest benefit of mobile commerce may be new opportunities for cross-selling through remote custom product development with customers. Speech recognition and associated technologies will further drive mobile commerce adoption by enabling input and retrieval of customer data through wireless devices.
This document discusses the challenges insurance companies face in keeping up with technological advances. It notes that only 15% of insurance businesses consider themselves technologically progressive, and that outdated systems and a generational gap are hindering modernization efforts. However, improving efficiency, customer experience, fraud detection, and mobile technologies could help companies better serve customers and gain competitive advantages if they are willing to invest in new technologies like smart machines and the Internet of Things.
Digitizing Insurance - A Whitepaper by RapidValue SolutionsRadhakrishnan Iyer
This document discusses how insurance companies can digitize their legacy systems to adopt modern technologies. It defines digitalization as shifting to electronic channels while balancing traditional practices. Insurers must modernize to drive growth amid rising customer expectations. Technical challenges include outdated, siloed legacy systems that are difficult to integrate and scale. The document recommends insurers establish a digital center of excellence, consult digital partners, assess technologies and identify gaps, target areas and users, and develop strategic IT initiatives to orchestrate their digital transformation.
Modernizing the Insurance Value Chain: Top Three Digital ImperativesCognizant
As nontraditional companies enter the insurance scene and insurtechs launch novel products, incumbents need to accelerate innovation and differentiate the customer journey to remain in the game. Here are three strategies to achieve these goals, with a brief look at a few companies well on their way.
Smarter Auto for the Hyperconnected World Matteo Carbone
This document discusses the growing use of telematics data in auto insurance. Telematics data enables more personalized insurance pricing and customer experiences. It can be used across the insurance value chain from pricing to claims management to additional services. While telematics is more established in the US and Italy, its use in pricing and underwriting has yet to be fully realized in most markets. As technology improves and costs decrease, the use of telematics data is expected to continue growing globally.
Similar to The Telematics Advantage: Growth, Retention and Transformational Improvement with Usage-Based Insurance (20)
Using Adaptive Scrum to Tame Process Reverse Engineering in Data Analytics Pr...Cognizant
Organizations rely on analytics to make intelligent decisions and improve business performance, which sometimes requires reproducing business processes from a legacy application to a digital-native state to reduce the functional, technical and operational debts. Adaptive Scrum can reduce the complexity of the reproduction process iteratively as well as provide transparency in data analytics porojects.
Data Modernization: Breaking the AI Vicious Cycle for Superior Decision-makingCognizant
The document discusses how most companies are not fully leveraging artificial intelligence (AI) and data for decision-making. It finds that only 20% of companies are "leaders" in using AI for decisions, while the remaining 80% are stuck in a "vicious cycle" of not understanding AI's potential, having low trust in AI, and limited adoption. Leaders use more sophisticated verification of AI decisions and a wider range of AI technologies beyond chatbots. The document provides recommendations for breaking the vicious cycle, including appointing AI champions, starting with specific high-impact decisions, and institutionalizing continuous learning about AI advances.
It Takes an Ecosystem: How Technology Companies Deliver Exceptional ExperiencesCognizant
Experience is becoming a key strategy for technology companies as they shift to cloud-based subscription models. This requires building an "experience ecosystem" that breaks down silos and involves partners. Building such an ecosystem involves adopting a cross-functional approach to experience, making experience data-driven to generate insights, and creating platforms to enable connected selling between companies and partners.
Intuition is not a mystery but rather a mechanistic process based on accumulated experience. Leading businesses are engineering intuition into their organizations by harnessing machine learning software, massive cloud processing power, huge amounts of data, and design thinking in experiences. This allows them to anticipate and act with speed and insight, improving decision making through data-driven insights and acting as if on intuition.
The Work Ahead: Transportation and Logistics Delivering on the Digital-Physic...Cognizant
The T&L industry appears poised to accelerate its long-overdue modernization drive, as the pandemic spurs an increased need for agility and resilience, according to our study.
Enhancing Desirability: Five Considerations for Winning Digital InitiativesCognizant
To be a modern digital business in the post-COVID era, organizations must be fanatical about the experiences they deliver to an increasingly savvy and expectant user community. Getting there requires a mastery of human-design thinking, compelling user interface and interaction design, and a focus on functional and nonfunctional capabilities that drive business differentiation and results.
The Work Ahead in Manufacturing: Fulfilling the Agility MandateCognizant
Manufacturers are ahead of other industries in IoT deployments but lag in investments in analytics and AI needed to maximize IoT's benefits. While many have IoT pilots, few have implemented machine learning at scale to analyze sensor data and optimize processes. To fully digitize manufacturing, investments in automation, analytics, and AI must increase from the current 5.5% of revenue to over 11% to integrate IT, OT, and PT across the value chain.
The Work Ahead in Higher Education: Repaving the Road for the Employees of To...Cognizant
Higher-ed institutions expect pandemic-driven disruption to continue, especially as hyperconnectivity, analytics and AI drive personalized education models over the lifetime of the learner, according to our recent research.
Engineering the Next-Gen Digital Claims Organisation for Australian General I...Cognizant
The document discusses potential future states for the claims organization of Australian general insurers. It notes that gradual changes like increasing climate volatility, new technologies, and changing customer demographics will reshape the insurance industry and claims processes. Five potential end states for claims organizations are described: 1) traditional claims will demand faster processing; 2) a larger percentage of claims will come from new digital risks; 3) claims processes may become "Uberized" through partnerships; 4) claims organizations will face challenges in risk management propositions; 5) humans and machines will work together to adjudicate claims using large data and computing power. The document argues that insurers must transform claims through digital technologies to concurrently improve customer experience, operational effectiveness, and efficiencies
Profitability in the Direct-to-Consumer Marketplace: A Playbook for Media and...Cognizant
Amid constant change, industry leaders need an upgraded IT infrastructure capable of adapting to audience expectations while proactively anticipating ever-evolving business requirements.
Green Rush: The Economic Imperative for SustainabilityCognizant
Green business is good business, according to our recent research, whether for companies monetizing tech tools used for sustainability or for those that see the impact of these initiatives on business goals.
Policy Administration Modernization: Four Paths for InsurersCognizant
The pivot to digital is fraught with numerous obstacles but with proper planning and execution, legacy carriers can update their core systems and keep pace with the competition, while proactively addressing customer needs.
The Work Ahead in Utilities: Powering a Sustainable Future with DigitalCognizant
Utilities are starting to adopt digital technologies to eliminate slow processes, elevate customer experience and boost sustainability, according to our recent study.
AI in Media & Entertainment: Starting the Journey to ValueCognizant
Up to now, the global media & entertainment industry (M&E) has been lagging most other sectors in its adoption of artificial intelligence (AI). But our research shows that M&E companies are set to close the gap over the coming three years, as they ramp up their investments in AI and reap rising returns. The first steps? Getting a firm grip on data – the foundation of any successful AI strategy – and balancing technology spend with investments in AI skills.
Operations Workforce Management: A Data-Informed, Digital-First ApproachCognizant
As #WorkFromAnywhere becomes the rule rather than the exception, organizations face an important question: How can they increase their digital quotient to engage and enable a remote operations workforce to work collaboratively to deliver onclient requirements and contractual commitments?
Five Priorities for Quality Engineering When Taking Banking to the CloudCognizant
As banks move to cloud-based banking platforms for lower costs and greater agility, they must seamlessly integrate technologies and workflows while ensuring security, performance and an enhanced user experience. Here are five ways cloud-focused quality assurance helps banks maximize the benefits.
Getting Ahead With AI: How APAC Companies Replicate Success by Remaining FocusedCognizant
Changing market dynamics are propelling Asia-Pacific businesses to take a highly disciplined and focused approach to ensuring that their AI initiatives rapidly scale and quickly generate heightened business impact.
The Work Ahead in Intelligent Automation: Coping with Complexity in a Post-Pa...Cognizant
Intelligent automation continues to be a top driver of the future of work, according to our recent study. To reap the full advantages, businesses need to move from isolated to widespread deployment.
Introduction of Cybersecurity with OSS at Code Europe 2024Hiroshi SHIBATA
I develop the Ruby programming language, RubyGems, and Bundler, which are package managers for Ruby. Today, I will introduce how to enhance the security of your application using open-source software (OSS) examples from Ruby and RubyGems.
The first topic is CVE (Common Vulnerabilities and Exposures). I have published CVEs many times. But what exactly is a CVE? I'll provide a basic understanding of CVEs and explain how to detect and handle vulnerabilities in OSS.
Next, let's discuss package managers. Package managers play a critical role in the OSS ecosystem. I'll explain how to manage library dependencies in your application.
I'll share insights into how the Ruby and RubyGems core team works to keep our ecosystem safe. By the end of this talk, you'll have a better understanding of how to safeguard your code.
How to Get CNIC Information System with Paksim Ga.pptxdanishmna97
Pakdata Cf is a groundbreaking system designed to streamline and facilitate access to CNIC information. This innovative platform leverages advanced technology to provide users with efficient and secure access to their CNIC details.
Building Production Ready Search Pipelines with Spark and MilvusZilliz
Spark is the widely used ETL tool for processing, indexing and ingesting data to serving stack for search. Milvus is the production-ready open-source vector database. In this talk we will show how to use Spark to process unstructured data to extract vector representations, and push the vectors to Milvus vector database for search serving.
Main news related to the CCS TSI 2023 (2023/1695)Jakub Marek
An English 🇬🇧 translation of a presentation to the speech I gave about the main changes brought by CCS TSI 2023 at the biggest Czech conference on Communications and signalling systems on Railways, which was held in Clarion Hotel Olomouc from 7th to 9th November 2023 (konferenceszt.cz). Attended by around 500 participants and 200 on-line followers.
The original Czech 🇨🇿 version of the presentation can be found here: https://www.slideshare.net/slideshow/hlavni-novinky-souvisejici-s-ccs-tsi-2023-2023-1695/269688092 .
The videorecording (in Czech) from the presentation is available here: https://youtu.be/WzjJWm4IyPk?si=SImb06tuXGb30BEH .
Monitoring and Managing Anomaly Detection on OpenShift.pdfTosin Akinosho
Monitoring and Managing Anomaly Detection on OpenShift
Overview
Dive into the world of anomaly detection on edge devices with our comprehensive hands-on tutorial. This SlideShare presentation will guide you through the entire process, from data collection and model training to edge deployment and real-time monitoring. Perfect for those looking to implement robust anomaly detection systems on resource-constrained IoT/edge devices.
Key Topics Covered
1. Introduction to Anomaly Detection
- Understand the fundamentals of anomaly detection and its importance in identifying unusual behavior or failures in systems.
2. Understanding Edge (IoT)
- Learn about edge computing and IoT, and how they enable real-time data processing and decision-making at the source.
3. What is ArgoCD?
- Discover ArgoCD, a declarative, GitOps continuous delivery tool for Kubernetes, and its role in deploying applications on edge devices.
4. Deployment Using ArgoCD for Edge Devices
- Step-by-step guide on deploying anomaly detection models on edge devices using ArgoCD.
5. Introduction to Apache Kafka and S3
- Explore Apache Kafka for real-time data streaming and Amazon S3 for scalable storage solutions.
6. Viewing Kafka Messages in the Data Lake
- Learn how to view and analyze Kafka messages stored in a data lake for better insights.
7. What is Prometheus?
- Get to know Prometheus, an open-source monitoring and alerting toolkit, and its application in monitoring edge devices.
8. Monitoring Application Metrics with Prometheus
- Detailed instructions on setting up Prometheus to monitor the performance and health of your anomaly detection system.
9. What is Camel K?
- Introduction to Camel K, a lightweight integration framework built on Apache Camel, designed for Kubernetes.
10. Configuring Camel K Integrations for Data Pipelines
- Learn how to configure Camel K for seamless data pipeline integrations in your anomaly detection workflow.
11. What is a Jupyter Notebook?
- Overview of Jupyter Notebooks, an open-source web application for creating and sharing documents with live code, equations, visualizations, and narrative text.
12. Jupyter Notebooks with Code Examples
- Hands-on examples and code snippets in Jupyter Notebooks to help you implement and test anomaly detection models.
5th LF Energy Power Grid Model Meet-up SlidesDanBrown980551
5th Power Grid Model Meet-up
It is with great pleasure that we extend to you an invitation to the 5th Power Grid Model Meet-up, scheduled for 6th June 2024. This event will adopt a hybrid format, allowing participants to join us either through an online Mircosoft Teams session or in person at TU/e located at Den Dolech 2, Eindhoven, Netherlands. The meet-up will be hosted by Eindhoven University of Technology (TU/e), a research university specializing in engineering science & technology.
Power Grid Model
The global energy transition is placing new and unprecedented demands on Distribution System Operators (DSOs). Alongside upgrades to grid capacity, processes such as digitization, capacity optimization, and congestion management are becoming vital for delivering reliable services.
Power Grid Model is an open source project from Linux Foundation Energy and provides a calculation engine that is increasingly essential for DSOs. It offers a standards-based foundation enabling real-time power systems analysis, simulations of electrical power grids, and sophisticated what-if analysis. In addition, it enables in-depth studies and analysis of the electrical power grid’s behavior and performance. This comprehensive model incorporates essential factors such as power generation capacity, electrical losses, voltage levels, power flows, and system stability.
Power Grid Model is currently being applied in a wide variety of use cases, including grid planning, expansion, reliability, and congestion studies. It can also help in analyzing the impact of renewable energy integration, assessing the effects of disturbances or faults, and developing strategies for grid control and optimization.
What to expect
For the upcoming meetup we are organizing, we have an exciting lineup of activities planned:
-Insightful presentations covering two practical applications of the Power Grid Model.
-An update on the latest advancements in Power Grid -Model technology during the first and second quarters of 2024.
-An interactive brainstorming session to discuss and propose new feature requests.
-An opportunity to connect with fellow Power Grid Model enthusiasts and users.
Programming Foundation Models with DSPy - Meetup SlidesZilliz
Prompting language models is hard, while programming language models is easy. In this talk, I will discuss the state-of-the-art framework DSPy for programming foundation models with its powerful optimizers and runtime constraint system.
AI 101: An Introduction to the Basics and Impact of Artificial IntelligenceIndexBug
Imagine a world where machines not only perform tasks but also learn, adapt, and make decisions. This is the promise of Artificial Intelligence (AI), a technology that's not just enhancing our lives but revolutionizing entire industries.
Cosa hanno in comune un mattoncino Lego e la backdoor XZ?Speck&Tech
ABSTRACT: A prima vista, un mattoncino Lego e la backdoor XZ potrebbero avere in comune il fatto di essere entrambi blocchi di costruzione, o dipendenze di progetti creativi e software. La realtà è che un mattoncino Lego e il caso della backdoor XZ hanno molto di più di tutto ciò in comune.
Partecipate alla presentazione per immergervi in una storia di interoperabilità, standard e formati aperti, per poi discutere del ruolo importante che i contributori hanno in una comunità open source sostenibile.
BIO: Sostenitrice del software libero e dei formati standard e aperti. È stata un membro attivo dei progetti Fedora e openSUSE e ha co-fondato l'Associazione LibreItalia dove è stata coinvolta in diversi eventi, migrazioni e formazione relativi a LibreOffice. In precedenza ha lavorato a migrazioni e corsi di formazione su LibreOffice per diverse amministrazioni pubbliche e privati. Da gennaio 2020 lavora in SUSE come Software Release Engineer per Uyuni e SUSE Manager e quando non segue la sua passione per i computer e per Geeko coltiva la sua curiosità per l'astronomia (da cui deriva il suo nickname deneb_alpha).
Salesforce Integration for Bonterra Impact Management (fka Social Solutions A...Jeffrey Haguewood
Sidekick Solutions uses Bonterra Impact Management (fka Social Solutions Apricot) and automation solutions to integrate data for business workflows.
We believe integration and automation are essential to user experience and the promise of efficient work through technology. Automation is the critical ingredient to realizing that full vision. We develop integration products and services for Bonterra Case Management software to support the deployment of automations for a variety of use cases.
This video focuses on integration of Salesforce with Bonterra Impact Management.
Interested in deploying an integration with Salesforce for Bonterra Impact Management? Contact us at sales@sidekicksolutionsllc.com to discuss next steps.
Fueling AI with Great Data with Airbyte WebinarZilliz
This talk will focus on how to collect data from a variety of sources, leveraging this data for RAG and other GenAI use cases, and finally charting your course to productionalization.
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/building-and-scaling-ai-applications-with-the-nx-ai-manager-a-presentation-from-network-optix/
Robin van Emden, Senior Director of Data Science at Network Optix, presents the “Building and Scaling AI Applications with the Nx AI Manager,” tutorial at the May 2024 Embedded Vision Summit.
In this presentation, van Emden covers the basics of scaling edge AI solutions using the Nx tool kit. He emphasizes the process of developing AI models and deploying them globally. He also showcases the conversion of AI models and the creation of effective edge AI pipelines, with a focus on pre-processing, model conversion, selecting the appropriate inference engine for the target hardware and post-processing.
van Emden shows how Nx can simplify the developer’s life and facilitate a rapid transition from concept to production-ready applications.He provides valuable insights into developing scalable and efficient edge AI solutions, with a strong focus on practical implementation.
The Telematics Advantage: Growth, Retention and Transformational Improvement with Usage-Based Insurance
1. • Cognizant 20-20 Insights
The Telematics Advantage: Growth,
Retention and Transformational
Improvement with Usage-Based Insurance
Executive Summary data. Early adopters are already reaping signifi-
cant benefits from this wave of change.
We are now in the early stages of the next
disruptive shift in work and technology, with a Telematics is defined as machine-to-machine com-
powerful economic catalyst sweeping across munication, whereby a device plugged into the
industry. As a result of new, cloud-powered on-board diagnostics (OBD) port of a vehicle, or
technologies, change is coming at an ever- originally installed by the manufacturer, collects
accelerating pace, particularly as the millennial particular data and sends it via wireless com-
generation comes of age and sees few barriers to munication to the insurance carrier to derive
the way technology can empower individuals and meaningful and predictive insights about how indi-
businesses. viduals drive.
The rise of millennials, along with the globaliza- For some carriers, telematics data provides the
tion of markets, the virtualization of business basis for understanding how far, how fast and
processes and emerging social and mobile tech- under what conditions a person drives, as well
nologies are redefining how work will be done as a foundation for more sophisticated data
today and tomorrow. As companies seek to match modeling and scorecard development. This ability
the Sunday night experience of mobility, col- is fostering new and innovative products that
laboration and social networking with Monday more accurately price risk and attract profitable
morning, these striking changes require orga- new customers, making the traditional segmenta-
nizations to rethink and rewire every aspect of tion of pricing auto insurance — based on average
their operations.1 While some companies are still characteristics or certain populations’ gender or
on the sidelines, others are examining every facet age — completely obsolete.
of their business model and are adapting “new
ways” of working that are more automated, col- In addition to pricing, telematics and usage-based
laborative and virtual. insurance (UBI) approaches are introducing
opportunities for carriers to build and maintain
Within the insurance industry, change has come richer relationships with customers than ever
slowly and predictably over time — until now. One before, while also laying the foundation for better
new technology that has the potential to bring decisions and core business process optimization.
significant change to all aspects of the insurance This white paper lays out how telematics and UBI
business is telematics, with its ability to monitor are revolutionizing rating variables and discusses
vehicle driving behavior and communicate back the potential they have for significantly changing
to the insurer with extremely rich and detailed or eliminating claims processes and workflow.
cognizant 20-20 insights | january 2012
2. It also offers actionable advice on how insurers device prices, which have declined to about $100
can begin integrating these technologies into their and continue to drop.
IT infrastructure by examining a new managed
services approach that we have recently launched Telematics insurance products are offered as
in partnership with Evogi Group, a leading provid- opt-in programs by insurance companies in
er of usage-based and behavior-based software various forms of UBI, either as commercial-
solutions to the insurance industry. ized products or trial offerings (see Figure 1).
Additional carriers are expected to begin UBI
Telematics Pioneers market tests this year through 2017, according
One leading carrier, Progressive Insurance, has to Towers Watson. In fact, Towers Watson reports
over a decade’s headstart with telematics. Its that 18% of U.S. personal and commercial auto
patented “Snapshot” program is already rolled carriers use or are planning to use telematics in
out, with enrollments increasing to 50,000 new the next two years. In addition, the LexisNexis
policyholders a month in 39 states. As such, Risk Solutions Survey (2010) indicates that 75%
Progressive has proved the of potential customers are interested in the cost
savings that can be achieved via UBI.
Telematics-based acceptance and scalability of
UBI in the U.S.
insurance products While large carriers have the capacity to fund
and establish telematics pilot projects, many
are now being Other carriers are following
others are challenged to build a business case
suit with UBI products, teen-
explored by personal driver safety programs or and are launching projects to determine the
and commercial lines a mix of UBI and behavior- impact on product cost, as well as the effect on
selection, retention and acquisition of customers.
insurers to provide al-based insurance (BBI)
In addition, the U.S. telematics market is the
programs, as well as added
policy discounts services to prevent their largest in the world and will remain so, at least
and enhanced risk best customers from being through 2017.
management. poached by competitors. Usage-based insurance has social advantages,
Telematics has been around for some time. In the as well, and is promoted as a green initiative
early days, it was used primarily by corporations to since it has the potential to reduce miles driven
govern fleets for improved safety and efficiency. and, hence, emissions. In addition, UBI has been
Telematics-based insurance products are now shown to reduce the frequency and severity of
being explored by personal and commercial lines accidents, according to a review of available data
insurers to provide policy discounts and enhanced by the National Highway Transportation Safety
risk management. This has been made possible Administration (www.NHTSA.gov), by reducing
by the reduction in data transmission costs and the speed of travel and the number of vehicles on
the roadway.
The U.S. Competitive Landscape
Market Tests Mass Market Segmented Offerings Other Offerings
Employees and Offerings Launched products Commercial, asset
existing customers Launched products for teens recovery, etc.
Farmers Insurance
AAA Safeco Insurance Geico
MetLife State Farm Insurance 21st Century Liberty Mutual
Years of Experience
Unigard OnStar Insurance
State Farm Insurance
<3 Plymouth Rock
Allstate
Erie Insurance
Travelers
Nationwide
The Hartford
GMAC Insurance
3-6 American Family
OnStar Insurance
>6 Progressive
Source: Towers Watson, March 2011
Figure 1
cognizant 20-20 insights 2
3. Creating a New Telematics Product of policyholders who prefer to use a handheld
device for anytime, anywhere communication.
Building a new telematics-based insurance
product can be complex. It begins with the desired While the complexity of establishing UBI as a
strategy of the insurer and impacts the selection rating tool may appear significant, the benefits
of the telematics device(s), the desired analytics are extensive, as emerging technologies collect
and the required integration with the insurer’s an expansive amount of data beyond mileage.
operating systems. It also necessitates a close This information can be used to create value-
assessment of the potential impact the technolo- added services, while increasing pricing accuracy,
gy may have on underwriting and actuarial rules, reducing claims leakage, reducing loss costs and,
billing, marketing and distribution, as well as the therefore, lowering expenses. Areas of greatest
claims process. Other considerations include: impact and potential redesign include:
• How will the insurer collect, aggregate,
• Fraud reduction.
normalize and use the data for risk selection
and pricing?
• Stolen vehicle recovery.
• Pricing accuracy/adequacy.
• What information, and in what format, will be
• Lower acquisition costs.
provided to policyholders to easily monitor
their driving behavior? • Improved renewal retention.
• What requirements will be necessary to • Improved liability determination.
integrate telematics into the insurer’s • Improved accident investigation facts.
operations and core systems? • Kinematics reconstruction.
• How will insurers support fulfillment and UBI • Reduction or elimination of towing charges.
customer care? • Automated repair processing.
• What are the economic considerations, and • Automated first notice of loss (FNOL) and
how will the insurer account for ROI? triage of claims.
• What device(s) are compatible with my policy- • Automated reserving.
holders’ vehicles?
• Automated bodily injury estimation.
• How can insurers create a pilot program? • Automated physical damage estimation.
Telematics Benefits, Potential ROI • Automated claims management.
Since most carriers are still in market tests
• Automated subrogation recovery.
and seeking to operationalize UBI and/or BBI Claims Impact of Telematics
programs, it will potentially take them at least 12
As insurers continually examine their claims effi-
to 18 months to move into full production from
ciencies, including technologies, branding and
the start of a pilot. This foundational focus will
customer care, while striving to leverage analytics
continue throughout this year, into next year
for improved decision-making, telematics has the
and beyond. Companies that are first adopters
potential to bring the most significant transfor-
will move on from operationalizing a telematics
mation to date to insurance operations.
program, to exploring further applications for
telematics data. With the communication of behavioral and
geospatial data from the vehicle at the time of an
This next wave will produce even more significant
accident, telematics can enable real-time FNOL
change in the insurance industry, as predictive
and first report of injury (FROI) reporting. By
analytics can be deployed to enhance decision-
creating deeper predictive analytics and triggers
making, reduce costs and eliminate manual
for crash data and bodily injury assessments
processes in the claims arena, while bringing
from similar incidents, insurers can potentially
transformation and innovation to the insurance
streamline the front-end of claims reporting. By
enterprise.
doing so, they can reduce their loss expenses,
As the use of predictive modeling in underwriting while employing better triage of claims, potential-
has accelerated, these models will be increasingly ly realizing a reduction of 20% to 50% or more in
applied to improve claims accuracy. As a result, claims expense over time.
and in addition to streamlined processes, the
Telematics data can also improve fraud
use of mobility solutions will increase across the
monitoring by augmenting fraud data models
enterprise to accommodate a new demographic
with crash monitoring data to recreate scenarios
cognizant 20-20 insights 3
4. and detection of false claims. Applied to claims value-added services. These include emergency
processes, analytics can help reduce fraud by roadside assistance, stolen vehicle locator,
spotting the elements of a claim that indicate vehicle diagnostics, speed alerts, real-time driver
a higher propensity for fraud. In the U.S., for feedback and driver training programs, teen
example, the National Insurance Crime Bureau driving alerts, safety monitoring for cell phone
suggests that 10% of all property and casualty use and texting and geo-fencing.
claims are fraudulent, yet only 20% are detected.
In short, a case can be made that an insurer will
Telematics will, Understanding crash data with
more accurate assessments will
get a favorable ROI from a telematics device with
proper installation, selection and use of data
in time, introduce provide better triage of claims as and the addition of value-added products in its
more accuracy and a result of more detailed accident strategy.
change workflow information received by the
carrier, thus improving insights ‘UBI in a Box’
entirely, delivering into which claims incur increased To achieve these benefits, most insurers will find
significant ROI loss adjustment expense (LAE). it necessary to enlist the services of a partner
over time. Having crash data willby receiving
estimate reserves
also improve with experience in developing and deploying
end-to-end UBI products. An experienced partner
detailed accident characteristics and thus stream- providing strategy consulting and end-to-end
lining the efficiency of the investigation and adju- solutions — including device selection, pilots,
dication process, further reducing LAE. field tests, fulfillment, support, actuarial services,
integration, predictive analytics, claims solutions
For example, by obtaining UBI, BBI and geospatial and insurance domain expertise — is more likely
data elements, a vehicle can call in the FNOL to understand the technological and business
and potentially trigger automated subrogation process nuances of telematics, to mitigate the
recovery or engagement of the tow and repair risks and accelerate time to value.
shop, thus reducing downtime, tow charges,
impound fees and rental car costs. Moreover, total One way to approach this is with an end-to-end
claims costs will be further reduced by utilizing an solution that is delivered as a managed service
automated estimation of the costs of repair and and spans strategy consulting, evaluation, field
streamlining the repairs by analyzing data of the pilots, integration of data into core systems, fulfill-
needed auto parts and enhancing fulfillment of ment and help desk/customer care and advanced
those parts. predictive analytics. With Evogi Group, we have
created a “UBI in a Box” service. Evogi provides
As the delay in receiving notice of loss leads to the integrated data hub to collect, normalize and
higher costs, the delay in adjudication and using apply analytics to UBI data for better decision-
subjective elements further contribute to leakage. making, while we provide a private cloud service
Telematics will, in time, introduce more accuracy to deliver (at scale) technology, as well as domain
and change workflow entirely, delivering signifi- and business process expertise to carriers.
cant ROI over time.
Working with us, carriers can better manage the
As on-board telematics devices can produce complexity and moving parts of a UBI initiative
enormous amounts of valuable data, its persistent (while applying a unique strategy for competi-
connectivity in the event of a claim can yield tive advantage). By taking a managed services
tremendous benefits in quickly and efficiently approach, they can limit the number of vendors
assisting with managing the claims process. and costs associated. Our solution enables
These new developments are especially timely, carriers to begin with an evaluation and pilot
as the ranks of experienced adjusters are retiring. before going live with a UBI service. A limited
number of devices can be deployed as an internal
Added-Value Services pilot for the carrier to familiarize itself with the
With a UBI program, the carrier obtains the data program, while further developing its strategy
and the opportunity to improve the risk character- and roadmap before offering UBI to policyholders.
istics of its book of business, while the policyhold-
er receives a premium discount or the promise Innovation and business strategy units are well-
of a premium reduction. However, telematics can served by assessing telematics in a pilot environ-
also enhance revenues for insurers and increase ment, while creating a blueprint for a successful
the stickiness to the insured by easily attaching UBI roadmap. This will allow them to further the
cognizant 20-20 insights 4
5. alignment of all program partners and define incidents decreased by 12% and idling by 35
the roles and responsibilities of stakeholders. In minutes per vehicle, per day.
addition, this approach allows for testing price
and segmentation capabilities and value-added Similar types of benefits could be accrued by
services, reviewing the functionality of the output insurers. In addition to monitoring drivers for
and integration steps, while providing additional safe driving habits, agents could more effec-
organizational orientation and agent training. tively manage risk and offer policy discounts to
A pilot environment enables carriers to build a customers.
brand around the use of telematics in advance of
the launch of a UBI program.
Deployment of UBI and Competitive
Advantage
Improved Economics in As carriers work through their approach to rolling
Commercial Fleets out UBI programs in personal or commercial
Calculating ROI in a commercial program may be lines, they will need to consider their strategic
easier to establish than in personal lines; however, objectives, desired competitive advantages
the long-term results for early adopters of a UBI and ways a connected vehicle will impact their
or commercial program will change over time. business processes.
For example, a 105-vehicle fleet had determined By integrating telematics data into core systems —
that both revenue per employee and revenue policy administration, actuarial and underwriting,
per unit (vehicle) decreased each of the past billing and claims, as well as new action-oriented
four years. The ratio of hours billed to hours paid policyholder portals — more predictive and faster
eroded, as well. (Because of the economy, pricing decisions can be made, perhaps even in real-time.
per hour and per move are both flat except for Manual and time-intensive work can be stream-
a per-mile fuel surcharge.) As a solution, the lined or eliminated as processes are automated
telematics program was initiated, resulting in the with accurate geo-spatial and vehicle data. This
following improvements: will have a noticeable impact on loss ratios. As
more data is collected and analyzed over time,
• The hours-billed-to-hours-paid ratio improved, more quantifiable savings will be determined
as actual travel time began to conform with and verified — benefits that will accelerate with
estimated travel time. greater UBI program adoption rates.
• Specific to office moves (primarily weekend
and evening work), return-to-office trip time The Future is Now
decreased by 50%, resulting in $13,000 of Telematics has arrived. Its speed of deployment
improved productivity in the first 90 days. will continue to accelerate, but there are limited
available resources to deploy to make it work
• The company essentially eliminated side-trips
and other non-optimal route selections. effectively within your organization. Speed
matters. Thus the fastest, most complete route
• By ranking the drivers by company (by number
to telematics adoption will produce a competitive
of speeding incidents, hard brakes, hard
advantage.
accelerations and excessive idling), speeding
Footnotes
1
Malcolm Frank and Geoffrey Moore, “The Future of Work: A New Approach to Productivity
and Competitive Advantage,” Cognizant Technology Solutions, December 2010,
http://www.cognizant.com/futureofwork/assets/whitepapers/FoW-New-Approach-TL.pdf.
Resources
http://www.nhtsa.gov/Research/Event+Data+Recorder+(EDR)/Welcome+to+the+NHTSA+Event+Data
+Recorder+Research+Web+site This Internet Web site is another Event Data Recorder (EDR)-related
effort to promote the understanding and widespread use of these devices. It is designed to be a useful
resource for anyone seeking knowledge of the emerging highway-based EDR technologies. By sponsoring
this effort, NHTSA encourages dialogue, research and development in emerging EDR technologies, with
the goal of fewer crashes, injuries and deaths.
cognizant 20-20 insights 5