Usage-based Insurance. C-Counsel Consultant

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Usage-based Insurance. C-Counsel Consultant"

Transcription

1 Usage-based Insurance Robin Harbage C-Counsel Consultant

2 Agenda Introduction Current UBI Programs Telematics Technology Data Value Implementation 2009 EMB. All rights reserved. Slide 2

3 INTRODUCTION What is UBI? 2008 EMB. All rights reserved. Slide 3

4 What is usage-based insurance (UBI)? UBI programs collect data on driving behavior from telematic devices and use that information to modify insurance premiums or to provide useful feedback to policyholders, or both. Companies have UBI programs around the globe Many other companies, including small companies, are moving toward implementation 2009 EMB. All rights reserved. Slide 4 MileMeter Notable Programs GMAC SafeCo Verified CSAA Safety Mileage Travelers Services Behavior Rating Progressive Aviva American Family

5 How does UBI work? Market Im mprove Rating Quote Impro ove Drivin ng Driver Customer Feedback Loop Policy Period Collect & Analyze Company Feedback Loop Underwriting Fee dback Driving Score 2008 EMB. All rights reserved. Slide 5

6 Important Questions What should device specifications include? What devices include critical functionality? What investment is the required and how to optimize the return? What data is pertinent? Is the data accurate? How much data is required? How to transfer, store, and analyze all this data? What do consumers s want? How to begin without loss cost models? 2009 EMB. All rights reserved. Slide 6

7 CURRENT UBI PROGRAMS Significant learnings? 2008 EMB. All rights reserved. Slide 7

8 GMAC Mileage Discount Only available to OnStar subscribers in 34 states Odometer readings sent from OnStar to GMAC with subscriber ss permission Average initial discount of 26% Maximum discount of 54% High mileage receive 5% discount for subscribing Self selection is real. Source: The Plain Dealer - July 17, 2008; WSJ - June 26, EMB. All rights reserved. Slide 8

9 Progressive s MyRateSM Optional program Game-changing program maturing and growing. Wireless device plugged into OBD II port Records how, how much, and when the car is being driven Insureds can select which vehicles to enroll Up to a 61% discount on BI, PD, PIP and Coll at renewal Surcharge of 9% can apply 2009 EMB. All rights reserved. Slide 9

10 Travelers IntelliDrive TM Discount for participation Mileage used for rating Data used for research Additional services Teen monitoring Vehicle locator Driving info at secure website Requires professional installation Minimum 12 month, with $100 fee for early termination Difficult to get traction with professional installation EMB. All rights reserved. Slide 10

11 CSAA udrive Available in Nevada Discount up to 10% per vehicle for participation Up to 5% additional savings at renewal under 10k miles Information on driving habits via personalized website Vehicles made in 1996 or newer are eligible The number getting into the game is growing EMB. All rights reserved. Slide 11

12 Hollard in South Africa Includes a minimum fixed premium and a variable premium based on the mileage of the vehicle for the specific month Fixed premium includes coverage for at least 417 kilometers, agps tracking device, and non-collision losses. Extra mileage is subject to a small tariff per kilometer You can thus control how much you spend on vehicle cover premiums. Consumers appreciate the control. Source: EMB. All rights reserved. Slide 12

13 TELEMATICS TECHNOLOGY Has it arrived? 2008 EMB. All rights reserved. Slide 13

14 Personal Auto Early pilots used professionally installed OEM or after-market devices Subsidized cost for learning Inconvenient for consumers and low adoption rate Opportunities as device costs decline Multiple electronic makers offering devices Reliable self-installed devices becoming available 2009 EMB. All rights reserved. Slide 14

15 Devices Providers Are Plentiful Danlaw IMS GreenRoad Hughes CalAmp Xirgo Trimble TrafficMaster Qualifications, experience, and availability vary significantly 2009 EMB. All rights reserved. Slide 15

16 Device Components What data is collected? How does the device receive power? How much memory is required? How is data transmitted? How often is data collected? Is data calibrated for accuracy? Is raw data collected or condensed d on device? Can device be remotely upgraded? 2009 EMB. All rights reserved. Slide 16

17 Telematic Devices GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip Device Components 2009 EMB. All rights reserved. Slide 17

18 Installation GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip OBD: Vehicle Event messages, VIN Number, Odometer reading, Speed 2009 EMB. All rights reserved. Slide 18

19 Vehicle Location GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip GPS: Location, Speed, Heading, Time, Quality 2009 EMB. All rights reserved. Slide 19

20 Data Refinement GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip 3D Accelerometer: G-Forces 2009 EMB. All rights reserved. Slide 20

21 Data Storage and Manipulation GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip ARM: Processor Chip and Flash Memory 2009 EMB. All rights reserved. Slide 21

22 Data Retrieval GPS Chip SIM Card OBD Port Device Accelerometer Vehicle ARM Chip RAM Chip GPRS: Data Transfer 2009 EMB. All rights reserved. Slide 22

23 Alternative Models Dedicated Device Insurance must pay for device and install Need self install to appeal to mass market Reasonable cost Ease of use Shared Services Device Device is able to support added value services outside insurance for example Satellite Navigation Rerouting to avoid Traffic Congestion Theft Tracking Speed camera warnings Emergency Call etc. Hard install may be required for these 2009 EMB. All rights reserved. Slide 23

24 DATA The most critical issue! 2008 EMB. All rights reserved. Slide 24

25 Integration with existing systems The data is not standard insurance data High data volume Numerous IT challenges Cost/benefit trade-offs between research and production 2009 EMB. All rights reserved. Slide 25

26 Analytics Data Flow Device Journey Data Impact Data Policy / Vehicle / Device Matching Data Scoring Admin Systems Claims Data Analytics Device Exception Report MI Reporting Crash Data Driver Profile Data EMB Infrastructure

27 Data Transmission Costs and Alternatives Data types Record size Frequency of transmission Data Compression 2009 EMB. All rights reserved. Slide 27

28 Data Uses Data needed for loss cost models Data consumer wants Data for additional services 2009 EMB. All rights reserved. Slide 28

29 Customer Feedback

30 Levels of Monitoring How far? Simple mileage rating How? Driving behavior Where? Location data with GPS Who? Driver specific 2009 EMB. All rights reserved. Slide 30

31 How? Speed Braking Thresholds Ranges Variance Acceleration Cornering Time of day Day of week 2009 EMB. All rights reserved. Slide 31

32 Where? Location and heading with GPS Mapping latitude/longitude Speed relative to speed limits Traffic congestion Road type Population density Weather 2009 EMB. All rights reserved. Slide 32

33 Data Sources Internally recorded by device Clock, Accelerometer Obtained from vehicle diagnostics VIN, Odometer, Speedometer, Engine operation Obtained from external sources GPS, Maps, Weather, e Traffic Developed from raw data 2009 EMB. All rights reserved. Slide 33

34 Levels of Aggregation Customer Policy Driver Day Journey Road Segment Manuver Second For a given Factor Understand where the factor operates in the hierarchy of aggregation More granular provides better discriminators and less proxies Factors can exist at any level 2009 EMB. All rights reserved. Slide 34

35 Data integrity Both customers and insurer need to trust Protect against fraud Provide accurate pricing Scrub data for errors Build in validation 2009 EMB. All rights reserved. Slide 35

36 VALUE Is it worth the investment? 2008 EMB. All rights reserved. Slide 36

37 Why now? There a numerous reasons why UBI is gaining momentum Technology costs have dropped Predictive power significantly enhances accuracy of prices Participating consumers love it Accident reduction potential Politically accepted Retention dramatically increased 2009 EMB. All rights reserved. Slide 37

38 Tremendous predictive power Various studies demonstrate predictive potential Companies gain competitive advantage through better segmentation Elimination of cross-subsidization is more fair 2009 EMB. All rights reserved. Slide 38

39 Appeals to participating consumers Once educated, UBI appeals to consumers Makes sense Controllable Side benefits As it is causal, reduces reliance on risk proxies Insurance credit scores Driver assignment Charges for relatively rare accidents, convictions 2009 EMB. All rights reserved. Slide 39

40 Even the regulators can support this Unlike many innovations, regulators should love this too Fairly discriminatory Saves lives Environmentally friendly Addresses affordability issues EMB has experience introducing usage-based programs 2009 EMB. All rights reserved. Slide 40

41 Reducing Risk Cost with Telematics Risk Segmentation Deriving risk factors from the data, and applying loadings / discounts to customers to enhance selection Risk Influence Customer feedback on behaviours to avoid Reducing Vehicle usage overall, and especially higher risk miles Claims Effectiveness Informing the claims process Use of telematic data as evidence Non-fraud Self-selection Safer drivers Risk Influence HOW? WHERE? WHEN? HOW MUCH? Self Selection Reducing underwriting and claims fraud 2009 EMB. All rights reserved. Slide 41

42 Improves driving and reduces accidents UBI experience significantly better Norwich Union: 30% frequency reduction GreenRoads: 54% improvement in fleet crash rate Iceland postal service reduced crash rate by 56% Pepsi (Iceland) reduced fleet crash rates by over 80% Early adopters will have increased profits and a competitive advantage 2009 EMB. All rights reserved. Slide 42

43 Added Value Services Safe Driver Coaching In vehicle feedback Web site reports Emergency Call Detect significant impacts Send text alerts ( Where am I message) Real-time service to dispatch help Theft Service Detect motion without ignition Tracking and call for help Geo-fence Service Detect location outside boundary zone Trigger notification Subscription services could help subsidize the costs 2009 EMB. All rights reserved. Slide 43

44 What does this mean? Devices can track simple or very detailed driving behavior Significantly increase pricing accuracy Minimize reliance on detailed questions and controversial proxy variables Help customers understand and eliminate risky behaviors Differentiate product offering via additional services All this means increased profits and retention! 2008 EMB. All rights reserved. Slide 44

45 UBI is a significant advantage for early adopters! If provide feedback to drivers, can drive the costs down even lower to increase advantage UBI at Renewal (w/ Feedback) $1,200 $1,100 $1,000 $900 Ind All Ind UBI w/ Feedback 2nd UBI Offer Ind Onset General Offer 2nd UBI Offer w/ Feedback Prem mium $800 $700 $600 $500 $400 $ EMB. All rights reserved. Slide 45

46 IMPLEMENTATION How to start? 2008 EMB. All rights reserved. Slide 46

47 Build an appealing proposition Reduced price Break commodity status Customer in control Ease of use ( Plug & Play ) Understandable model Lower losses Cost to consumer Overcome privacy objection Two way price changes What does customer want? 2009 EMB. All rights reserved. Slide 47

48 Significant Investment Requires management commitment Long lead time to implement Large dataset needed for accurate UBI score Danger of collecting worthless data Telematics costs are dropping Best technology is morphing Data transmission costs drive investment 2009 EMB. All rights reserved. Slide 48

49 Contact Info Robin Harbage, FCAS MAAA C-Counsel Consultant EMB America LLC 622 Falls Rd Chagrin Falls, OH (440) EMB. All rights reserved. Slide 49

EMB America. Usage Based Insurance from Theory to Practice. Robin A. Harbage, FCAS, MAAA March 2009

EMB America. Usage Based Insurance from Theory to Practice. Robin A. Harbage, FCAS, MAAA March 2009 EMB America Usage Based Insurance from Theory to Practice Robin A. Harbage, FCAS, MAAA March 2009 Usage Based Auto Insurance PURPOSE: Provide overview of necessary steps to implement driving behavior

More information

Usage-Based Insurance

Usage-Based Insurance Usage-Based Insurance A revolution is under way A presentation to OII s 2013 Insurance Education Day Advisory Council By Katie DeGraaf April 2013 What is UBI? UBI Benefits UBI Marketplace The Product Roadmap

More information

Usage-Based Insurance

Usage-Based Insurance Usage-Based Insurance Casualty Actuarial Society Spring Meeting Kelleen Arquette May 2013 2013 Towers Watson Global. All rights reserved. What is UBI? towerswatson.com 2013 Towers Watson. All rights reserved.

More information

Innovations in Retail Insurance

Innovations in Retail Insurance Innovations in Retail Insurance SOAT Non-Life Insurance Forum 2011 Ron Kozlowski 23 September 2011 2011 Towers Watson. All rights reserved. CONTENTS Innovation in Retail Tariffs fact or fiction? Adding

More information

Usage-based Auto Insurance (UBI)

Usage-based Auto Insurance (UBI) Usage-based Auto Insurance (UBI) A revolution is underway. Is your company ready? A presentation to 2013 CIA Annual Meeting by Pierre G. Laurin June 21, 2013 2013 Towers Watson. All rights reserved. What

More information

LINKING DRIVING BEHAVIOR TO AUTOMOBILE ACCIDENTS AND INSURANCE RATES AN ANALYSIS OF FIVE BILLION MILES DRIVEN

LINKING DRIVING BEHAVIOR TO AUTOMOBILE ACCIDENTS AND INSURANCE RATES AN ANALYSIS OF FIVE BILLION MILES DRIVEN LINKING DRIVING BEHAVIOR TO AUTOMOBILE ACCIDENTS AND INSURANCE RATES AN ANALYSIS OF FIVE BILLION MILES DRIVEN JULY 2012 1 2 3 4 5 EXECUTIVE SUMMARY USAGE BASED INSURANCE OVERVIEW DATA METHODOLOGY KEY FINDINGS

More information

UBI/Telematics : Opportunities and Challenges

UBI/Telematics : Opportunities and Challenges UBI/Telematics : Opportunities and Challenges Robin Harbage, FCAS, MAAA October 22, 2015 2015 Towers Watson. All rights reserved. Telematics : Opportunities and Challenges Part 1 : Usage-based Insurance

More information

Telematics Big Data or Big Brother

Telematics Big Data or Big Brother Telematics Big Data or Big Brother Robin Harbage, FCAS, MAAA October 23, 2015 2015 Towers Watson. All rights reserved. Telematics Big Data or Big Brother Uses the pros and the cons Privacy implications

More information

CELEBRATING YEARS MARKET LEADERSHIP 1989-2013

CELEBRATING YEARS MARKET LEADERSHIP 1989-2013 CELEBRATING YEARS MARKET LEADERSHIP 1989-2013 WHAT IS TELEMATICS? Telematics is the use of a device (black box) that collects and transmit data about how a vehicle is performing, the speed and distance

More information

Session 2 UBI - Telematics in Motor Insurance. David Dou, FCAS

Session 2 UBI - Telematics in Motor Insurance. David Dou, FCAS Session 2 UBI - Telematics in Motor Insurance David Dou, FCAS UBI - Telematics in Motor Insurance David Dou Co founder, Carbox November 16, 2016 UBI - Telematics in Motor Insurance Background of Telematics

More information

Session 6a Usage Based Insurance - Telematics in Motor Insurance

Session 6a Usage Based Insurance - Telematics in Motor Insurance Session 6a Usage Based Insurance - Telematics in Motor Insurance David Dou, FCAS Bo Huang, FCAS, FCAA June 2014 UBI - Telematics in Motor Insurance Background of Telematics in Motor Insurance Benefits

More information

Alberta Private Passenger Usage Based Insurance (UBI) Implementation Process Consultation The Co-operators January 30, 2015

Alberta Private Passenger Usage Based Insurance (UBI) Implementation Process Consultation The Co-operators January 30, 2015 Alberta Private Passenger Usage Based Insurance (UBI) Implementation Process Consultation The Co-operators January 30, 2015 Friday, January 30, 2015 Mr. Mark Prefontaine Superintendent of Insurance 402

More information

Survey of External Data Possibilities for Commercial Insurance

Survey of External Data Possibilities for Commercial Insurance Survey of External Data Possibilities for Commercial Insurance 2015 CAS Ratemaking and Product Management Seminar Tom Kolde, FCAS, MAAA Kathryn Walker, FCAS, MAAA, CPCU March 11, 2015 Discussion Topics

More information

UBI can help carriers attract more customers.

UBI can help carriers attract more customers. White Paper 2014 Usage-Based Insurance (UBI) Research Results for Consumer and Small Fleet Markets UBI can help carriers attract more customers. LexisNexis found that 18 percent of consumers and 27 percent

More information

Financial Services. Uneven road ahead: Telematics poised to reshape auto insurance

Financial Services. Uneven road ahead: Telematics poised to reshape auto insurance Financial Services Uneven road ahead: Telematics poised to reshape auto insurance The broad rollout of Progressive s usage-based auto insurance, SnapShot, will come to be seen as a watershed. Snapshot

More information

3/21/2014. Designing a Commercial UBI Program. Disclaimer

3/21/2014. Designing a Commercial UBI Program. Disclaimer Designing a Commercial UBI Program CAS Ratemaking and Product Management Seminar, March 31, 2014 Erin Bellott, FCAS, MAAA Disclaimer The views expressed in this presentation are solely those of the author

More information

Snapshot. 2012 Auto Insurance Symposium Charlotte, NC March 23, 2012. Chris Ziance Senior Counsel cziance1@progressive.com

Snapshot. 2012 Auto Insurance Symposium Charlotte, NC March 23, 2012. Chris Ziance Senior Counsel cziance1@progressive.com Snapshot 2012 Auto Insurance Symposium Charlotte, NC March 23, 2012 Chris Ziance Senior Counsel cziance1@progressive.com Agenda UBI background Progressive s history with UBI The future Usage Based Insurance

More information

Fleet Management Solution Telefonica & Geotab_

Fleet Management Solution Telefonica & Geotab_ Fleet Management Solution Telefonica & Geotab_ Product Overview Key points: M2M Plug-and-Play Fleet Management Solution. Offers real time fleet management capabilities with advanced features and engine

More information

CANADA & TELEMATICS 1

CANADA & TELEMATICS 1 CANADA & TELEMATICS 1 Telematics is expanding globally, with the US, Italy and UK leading EUROPE Market: Allianz making significant investment and partnering with OEMs. CANADA ~5% of insured private vehicles

More information

Strategic Analysis of the North American Market for Telematics-enabled Usage-based Insurance. N7A9-18 December 2010

Strategic Analysis of the North American Market for Telematics-enabled Usage-based Insurance. N7A9-18 December 2010 Strategic Analysis of the North American Market for Telematics-enabled Usage-based Insurance December 2010 Table of Contents Scope, Definitions and Research Methodology 10 Geographic Definitions and Research

More information

Telematics - Movements in Behavioural Underwriting & Pricing. Jon Tindall

Telematics - Movements in Behavioural Underwriting & Pricing. Jon Tindall Telematics - Movements in Behavioural Underwriting & Pricing Jon Tindall Behavioral Underwriting & Pricing Evolution in the application of behavioral information in the pricing and underwriting of risks

More information

Stempora Group, LLC SG

Stempora Group, LLC SG and Medium Sized Companies October 3, 2011 Stempora Group, LLC SG Moderator: Gary Wang, FCAS, MAAA Pinnacle Actuarial Resources, Inc. Panelist: Jeff Stempora, Founder and CEO Stempora Group, LLC Table

More information

Telematics. ARI White Paper / 2014. Driven.

Telematics. ARI White Paper / 2014. Driven. Telematics ARI White Paper / 2014 Driven. Telematics Contents Introduction...2 Telematics Functionality...2 Benefits...3 Challenges...4 How to get started...5 Conclusion...6 References...6 This manuscript

More information

IMS Fleet Intelligence

IMS Fleet Intelligence IMS Fleet Intelligence An easy-to-use, out-of-the-box fleet solution for small and mid-sized fleet owners that provides the ability to manage fuel costs and monitor vehicle fleets and drivers without the

More information

Usage-based Insurance for Commercial Lines

Usage-based Insurance for Commercial Lines Usage-based Insurance for Commercial Lines What can we learn from personal lines? Mohamad Hindawi, PhD, FCAS March 31, 2014 Significant value available from the right UBI program Provides information that

More information

Developments in motor insurance. Non-Life Insurance Forum 2012-16 th November 2012

Developments in motor insurance. Non-Life Insurance Forum 2012-16 th November 2012 Developments in motor insurance Non-Life Insurance Forum 2012-16 th November 2012 1 Overview United Kingdom Development of Motor insurance & Aggregators South Africa Telematics Sri Lanka On-the-spot payments

More information

Auto Insurance Telematics: Where the Data Meets the Road

Auto Insurance Telematics: Where the Data Meets the Road Casualty Actuarial Society Annual Meeting: Auto Insurance Telematics: Where the Data Meets the Road John Lucker, Principal, Global Advanced Analytics & Modeling Market Leader, Deloitte Consulting LLP Sam

More information

Real time telematics fleet information for a. bigger picture. telematics

Real time telematics fleet information for a. bigger picture. telematics Real time telematics fleet information for a bigger picture telematics Small box, big savings Reduce the cost of running your f leet Volkswagen Financial Services new telematics system makes it easy for

More information

2013 North American Automotive Usage Based Insurance Customer Value Enhancement Award

2013 North American Automotive Usage Based Insurance Customer Value Enhancement Award 2013 North American Automotive Usage Based Insurance Customer Value Enhancement Award 2013 Customer Value Enhancement Award Automotive Usage Based Insurance North America, 2013 Frost & Sullivan s Global

More information

About Redtail Telematics

About Redtail Telematics Company Overview About Redtail Telematics Redtail was established to explore the potential of GPS technology; turning location and accelerometer data into meaningful insight for consumers, fleet managers,

More information

29082012_WF_reporting_bro_UK. www.tomtom.com/telematics

29082012_WF_reporting_bro_UK. www.tomtom.com/telematics 29082012_WF_reporting_bro_UK www.tomtom.com/telematics T E L E M AT I C S WEBFLEET Reporting Let s drive business WEBFLEET Reporting Difficult business decisions are much more straightforward with TomTom

More information

4/26/2016. Session Objectives. Elements of Well Performing Fleet Programs

4/26/2016. Session Objectives. Elements of Well Performing Fleet Programs Combining Behavioral Safety Theory and Telematics Peter Van Dyne, MA, CSP, CFPS Wisconsin Safety Council May 17, 2016 Our risk control service is advisory only. We assume no responsibility for management

More information

Pay-Drive (Usage-Based Auto Insurance)

Pay-Drive (Usage-Based Auto Insurance) Pay-Drive (Usage-Based Auto Insurance) Southern California Casualty Actuarial Club June 23, 2010 Shawna Ackerman, FCAS, MAAA Pinnacle Actuarial Resources, Inc. 1 What do the regulations allow? What was

More information

Telematics. The New Auto Insurance

Telematics. The New Auto Insurance Telematics The New Auto Insurance By Alex Laurie Telematic technologies are approaching a tipping point as obstacles to their widespread application are overcome in rapid succession. How are these technologies

More information

Intervid Fleet Management Fleet Telematics. Intervid, Inc. 5111 Pegasus Court, Suite C Frederick, MD 21704

Intervid Fleet Management Fleet Telematics. Intervid, Inc. 5111 Pegasus Court, Suite C Frederick, MD 21704 Intervid Fleet Management Fleet Telematics Intervid Fleet Management Intervid Fleet Management brings to market a leading Global Fleet Telematics Technology. Intervid Fleet Management solutions have assisted

More information

Plugging Premium Leakage

Plugging Premium Leakage Plugging Premium Leakage Using Analytics to Prevent Underwriting Fraud WHITE PAPER SAS White Paper Table of Contents Introduction.... 1 Types of Underwriting Fraud... 1 Application Fraud/Rate Manipulation....

More information

How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS

How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS ebook How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS To select the right GPS vehicle tracking system, understand the different

More information

A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS

A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS ebook ebook How to select A GPS VEHICLE TRACKING SYSTEM FOR YOUR BUSINESS To select the right GPS vehicle tracking system, understand the different

More information

We help you run a more efficient fleet.

We help you run a more efficient fleet. We help you run a more efficient fleet. GO SAVE SAVE GPS Location Route Tracking Geofencing Vehicle Diagnostics Driver Behaviour Two-way Communication For more details please visit www.smartfleettracking.com

More information

Tracking & Fleet Management System. Itzik Baron, Mobile Satellite Sales Manager

Tracking & Fleet Management System. Itzik Baron, Mobile Satellite Sales Manager Tracking & Fleet Management System Itzik Baron, Mobile Satellite Sales Manager Overview Communication solutions provider offering domestic and international fiber & satellite based connectivity services

More information

Insurance Telematics:

Insurance Telematics: Insurance Telematics: Big Data, Big Potential, Big Headache Dave Huber, President Kairos Solutions IFSUG March 2012 Big Data 2 ne of the few products whose price is set before costs are known Known costs

More information

Cut fleet operating costs. Let your truck tell you how.

Cut fleet operating costs. Let your truck tell you how. Scania Services Scania Fleet Management Cut fleet operating costs. Let your truck tell you how. Not all the products and services mentioned in this brochure may be available in all markets. For details

More information

Customer Stories. Teletrac tracks over 22,000 customers and 500,000 vehicles globally. Here are a few of their stories. 1401013_CustomerStories_UK

Customer Stories. Teletrac tracks over 22,000 customers and 500,000 vehicles globally. Here are a few of their stories. 1401013_CustomerStories_UK Customer Stories Teletrac tracks over 22,000 customers and 500,000 vehicles globally. Here are a few of their stories. 1401013_CustomerStories_UK Citroën (UK) Award-winning Fleet Director Telematics Package

More information

Revenue and Transportation Interim Committee 61st Montana Legislature

Revenue and Transportation Interim Committee 61st Montana Legislature Revenue and Transportation Interim Committee 61st Montana Legislature PO BOX 201706 Helena, MT 59620-1706 (406) 444-3064 FAX (406) 444-3036 SENATE MEMBERS HOUSE MEMBERS COMMITTEE STAFF KIM GILLAN--Chair

More information

Improve Rating Accuracy and Segmentation for Commercial Lines auto policies

Improve Rating Accuracy and Segmentation for Commercial Lines auto policies Noble Wilson Carver Improve Rating Accuracy and Segmentation for Commercial Lines auto policies Let s start with what we should know Does UBI improve the way we segment, rate & price? Segmentation: Automated

More information

Developments in the Pricing of Auto Insurance Based Upon Driving Behavior. Amanda Roberts. Risk Management & Insurance Program

Developments in the Pricing of Auto Insurance Based Upon Driving Behavior. Amanda Roberts. Risk Management & Insurance Program Developments in the Pricing of Auto Insurance Based Upon Driving Behavior By Amanda Roberts Risk Management & Insurance Program Eastern Kentucky University March 2014 The idea of insurance pricing based

More information

Telematics: How Big Data Is Transforming the Auto Insurance Industry WHITE PAPER

Telematics: How Big Data Is Transforming the Auto Insurance Industry WHITE PAPER Telematics: How Big Data Is Transforming the Auto Insurance Industry WHITE PAPER SAS White Paper Table of Contents Introduction.... 1 Self-Reporting Policies: Precursors to Telematics... 1 Pay-As-You-Drive:

More information

Usage Based Insurance

Usage Based Insurance Usage Based Insurance Saving Money by Helping Modify Driving Behavior Product Code: idrd-14uscwsat-nuse Market: Connected Worlds Destination: U.S. Direction: Automotive Date Created: January 2014 Expert

More information

NAIC Consumer Shopping Tool for Auto Insurance

NAIC Consumer Shopping Tool for Auto Insurance NAIC Consumer Shopping Tool for Auto Insurance Need Auto Insurance? Here is What You Need to Know. Whether you are buying auto insurance for the first time, or shopping to be sure you are getting the best

More information

INSURANCE TELEMATICS. Drive well, Pay less! Motor insurance based on the way you drive. Calculate Insurance Premiums

INSURANCE TELEMATICS. Drive well, Pay less! Motor insurance based on the way you drive. Calculate Insurance Premiums NCE TELEMATICS Drive well, Pay less! Motor insurance based on the way you drive Airmax has been at the forefront of Insurance Telematics from the start. Indeed the very concept of black box monitoring

More information

YOUR BUSINESS. DELPHI TELEMATICS.

YOUR BUSINESS. DELPHI TELEMATICS. YOUR BUSINESS. DELPHI TELEMATICS. TALK ABOUT COVERAGE! FOR YOU. FOR Y TELEMATICS. NOT JUST FOR VEHICLE MANUFACTURERS AND THEIR DEALERS. As a leader in providing innovations for the real world, Delphi brings

More information

Personal Auto Predictive Modeling Update: What s Next? Roosevelt Mosley, FCAS, MAAA CAS Predictive Modeling Seminar October 6 7, 2008 San Diego, CA

Personal Auto Predictive Modeling Update: What s Next? Roosevelt Mosley, FCAS, MAAA CAS Predictive Modeling Seminar October 6 7, 2008 San Diego, CA Personal Auto Predictive Modeling Update: What s Next? Roosevelt Mosley, FCAS, MAAA CAS Predictive Modeling Seminar October 6 7, 2008 San Diego, CA You ve Heard Where predictive modeling for auto has been

More information

BIG DATA Fast-Track Towards Profitability in Motor Insurance

BIG DATA Fast-Track Towards Profitability in Motor Insurance Copyright 2014 NTT DATA FA Insurance Systems BIG DATA Fast-Track Towards Profitability in Motor Insurance NTT DATA Corporation International Insurance Forum April 20, 2015 Istanbul, Turkey FORUM International

More information

Discrete Wireless MARCUS Product Overview

Discrete Wireless MARCUS Product Overview Discrete Wireless MARCUS Product Overview Company Background Discrete Wireless, Inc. is a dynamic leader in GPS Fleet Management products and services. Discrete Wireless was incorporated May 12, 2000.

More information

GPS Vehicle Tracking. The Complete Reference Guide

GPS Vehicle Tracking. The Complete Reference Guide GPS Vehicle Tracking The Complete Reference Guide GPS Vehicle Tracking: The Complete Reference Guide GPS vehicle tracking has gained popularity in many segments of the business world. Two main reasons

More information

RISK PRICING GUIDELINES FOR PAY-AS-YOU-DRIVE VEHICLE INSURANCE PRODUCTS

RISK PRICING GUIDELINES FOR PAY-AS-YOU-DRIVE VEHICLE INSURANCE PRODUCTS M E T H O D O L O G Y D O C U M E N T Prepared by: Andras Kovacs, Date: 2008. October 16. RISK PRICING GUIDELINES FOR PAY-AS-YOU-DRIVE VEHICLE INSURANCE PRODUCTS w w w. i r i s - g l o b a l. o r g Introduction

More information

UK Insurers have been frantically searching

UK Insurers have been frantically searching Insurance Telematics Issue 1 THINKING OUTSIDE OF THE BOX For too long now Insurers have been trapped inside the hamster wheel of market underwriting cycles, hoping that today s customers are more profitable

More information

What GPS Will Do for You in 2015: the Future of Fleet Tracking

What GPS Will Do for You in 2015: the Future of Fleet Tracking What GPS Will Do for You in 2015: the Future of Fleet Tracking GPS systems confer a competitive advantage on companies that use them for fleet vehicles. Fleet managers who use GPS systems to track drivers

More information

Marty Epstein, FCAS Global Auto Actuary, AIG. CAS Ratemaking and Product Seminar March 2013

Marty Epstein, FCAS Global Auto Actuary, AIG. CAS Ratemaking and Product Seminar March 2013 Marty Epstein, FCAS Global Auto Actuary, AIG CAS Ratemaking and Product Seminar March 2013 Broadest definition: the technology of collecting, sending, receiving information via telecommunication devices

More information

PROTECTING YOUR DREAMS FOR YOUR TEENS

PROTECTING YOUR DREAMS FOR YOUR TEENS PROTECTING YOUR DREAMS FOR YOUR TEENS 30-50 HOURS * OF PARENT-SUPERVISED DRIVING AREN T ENOUGH The facts prove it. In America, motor vehicle crashes are the number one cause of death for young people aged

More information

MiX Telematics Why use Telematics

MiX Telematics Why use Telematics MiX Telematics Why use Telematics Agenda Advantages of Telematics The Black Box Web Based Ease of use Reporting - Safety Reporting - Utilisation Tracking Rovi Vision Advantages of Telematics to an organisation

More information

THE CONNECTED VEHICLE SOLUTION TRACKER. Insight

THE CONNECTED VEHICLE SOLUTION TRACKER. Insight THE CONNECTED VEHICLE SOLUTION TRACKER Insight 2 Why Choose TRACKER Insight? TRACKER Insight is a connected car solution providing insurers and brokers with: Valuable insights into their customers actual

More information

ebook best practices Managing Fuel Costs with Networkfleet

ebook best practices Managing Fuel Costs with Networkfleet ebook best practices Managing Fuel Costs with Networkfleet The Networkfleet Advantage With all indications pointing to persistent higher future fuel prices, a telematics solution that helps you better

More information

Shift to a sample of one.

Shift to a sample of one. White Paper : Thinking Outside the Box Shift to a sample of one. Telematics data enables carriers to accurately determine an individual driver s level of risk within weeks of program inception. October

More information

The Impact Of Measuring Driver And Vehicle Behavior

The Impact Of Measuring Driver And Vehicle Behavior The Impact Of Measuring Driver And Vehicle Behavior Why Businesses are Investing in Fleet Data A Teletrac Whitepaper The Impact Of Measuring Driver And Vehicle Behavior Data has many meanings. Virtually

More information

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department Automobile Insurance Mississippi Insurance Department 1 2014 National Association of Insurance Commissioners All rights reserved. National Association of Insurance Commissioners Insurance Products & Services

More information

An Evaluation Study of Driver Profiling Fuzzy Algorithms using Smartphones

An Evaluation Study of Driver Profiling Fuzzy Algorithms using Smartphones An Evaluation Study of Driver Profiling Fuzzy Algorithms using Smartphones German Castignani, Raphaël Frank, Thomas Engel Interdisciplinary Centre for Security Reliability and Trust (SnT) University of

More information

DEVELOPING INSURANCE TELEMATICS

DEVELOPING INSURANCE TELEMATICS 30 / TELEMATICS FEATURE DEVELOPING INSURANCE TELEMATICS Telematics systems offering usage based insurance enable insurers to create much broader relationships with policyholders that go beyond traditional

More information

KENZIZ TECHNOLOGIES VEHICLE TRACKING

KENZIZ TECHNOLOGIES VEHICLE TRACKING COMPANY BROCHURE 2014 KENZIZ TECHNOLOGIES VEHICLE TRACKING BROCHURE INTRODUCTION Limited Ghana (KTL) is a fully Ghanaian owned company and a leading provider of c cutting edge integrated information technology

More information

DTN GPS Tracker Fleet http://www.gpstrackerservice.com/ 718-840-7448

DTN GPS Tracker Fleet http://www.gpstrackerservice.com/ 718-840-7448 DTN GPS Tracker Fleet http://www.gpstrackerservice.com/ 718-840-7448 1 How does DTN GPS Tracker works? A vehicle tracking system using DTN GPS takes the location, speed, direction and time data provided

More information

Bringing Sexy Back to Insurance

Bringing Sexy Back to Insurance Bringing Sexy Back to Insurance USING BIG DATA ANALYTICS TO DERIVE VALUE IN YOUR UBI PROGRAM Deriving Value From UBI Revenue Retention Recruitment VALUE Decide why you need a UBI program There s Gold in

More information

How driver behaviour can impact your business

How driver behaviour can impact your business How driver behaviour can impact your business How s my driving? Traditionally, businesses that run a fleet of vehicles have had to rely on feedback, whether it s positive or negative, from members of the

More information

Top-of-Mind Concerns of Today s Fleet Leadership. Results from our 2011 survey of fleet managers and executives in a variety of industries.

Top-of-Mind Concerns of Today s Fleet Leadership. Results from our 2011 survey of fleet managers and executives in a variety of industries. Top-of-Mind Concerns of Today s Fleet Leadership Results from our 2011 survey of fleet managers and executives in a variety of industries. In an effort to better understand the concerns and attitudes of

More information

Cut Costs. Work Smarter. Drive Safer. FLEET MANAGEMENT SOLUTIONS FROM NETWORKFLEET.

Cut Costs. Work Smarter. Drive Safer. FLEET MANAGEMENT SOLUTIONS FROM NETWORKFLEET. Cut Costs. Work Smarter. Drive Safer. FLEET MANAGEMENT SOLUTIONS FROM NETWORKFLEET. Improve your fleet s productivity and performance with Networkfleet. Our innovative GPS vehicle tracking technology lets

More information

Keep control is essential.

Keep control is essential. Keep control is essential. Visirun tracks your commercial fleet in real time, anytime and everywhere! You can get informations about position of your vehicles and what they re doing, about driver s driving

More information

A GUIDE TO MACK TELEMATICS

A GUIDE TO MACK TELEMATICS A GUIDE TO MACK TELEMATICS Have you ever wondered how you can possibly manage and monitor all your drivers needs when they re out on the road? Historically, fleet managers have had no way to keep up to

More information

Cloud solutions Automotive Insurance. Auto3P 2015 All rights reserved

Cloud solutions Automotive Insurance. Auto3P 2015 All rights reserved Cloud solutions Automotive Insurance Auto3P 2015 All rights reserved July 2015 Auto3P Services - Policy life cycle Auto3P cloud Servers Solutions - Automotive Insurance Sector from policy s day one Claims

More information

In short, the OBDII connected device has proven itself as the primary device for UBI products and services for the following reasons:

In short, the OBDII connected device has proven itself as the primary device for UBI products and services for the following reasons: Insurance Telematics US Market Data Collection Analysis Aftermarket OBD II device vs. the Smartphone and the OEM Connected Platform By: Tim Morris, Mike Carroll, Nate Bryer Executive Summary: The Insurance

More information

Remote Area Tracking and Mapping

Remote Area Tracking and Mapping Remote Area Tracking and Mapping TM3000 with Iridium Satellite Back up Communications Step Global has developed a solution to remote area GPS tracking by interfacing the Trimble TM3000 Asset Tracking Device

More information

In VehIcle MonItorIng SolutIonS

In VehIcle MonItorIng SolutIonS In Vehicle Monitoring Solutions SecureLocate provides an intuitive tracking platform to better fit the needs of commercial transportation and private security providers. Easily track & monitor thousands

More information

New Mobile App. Virtual Inspector revolutionizes vehicle inspections

New Mobile App. Virtual Inspector revolutionizes vehicle inspections New Mobile App Virtual Inspector revolutionizes vehicle inspections Vehicle inspections don t have to be timeconsuming and costly. New technologies and analytics are making them easy and inexpensive. Underwriters

More information

AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY

AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY AUTONOMOUS VEHICLE TECHNOLOGY: CONSIDERATIONS FOR THE AUTO INSURANCE INDUSTRY 2013 Intelligent Transportation Systems (ITS) Technical Meeting Monmouth College John P. Friedman Vice President State Government

More information

Please contact a member of our sales team on 0800 107 2099

Please contact a member of our sales team on 0800 107 2099 A first in the Fleet Management & Telematics Transport Sector The combination of 2 industry-leading cloud-based technologies Truckfile is utilised by 17,000 UK customers operating 110,000 vehicles Ctrack

More information

REDEFINING. Real Time. GFI Systems Inc #400 4406 50 th Ave Red Deer AB, T4N376 Canada. www.gfisystems.ca gfi@gfisystems.ca Toll Free: 1.855.GFI.

REDEFINING. Real Time. GFI Systems Inc #400 4406 50 th Ave Red Deer AB, T4N376 Canada. www.gfisystems.ca gfi@gfisystems.ca Toll Free: 1.855.GFI. REDEFINING Real Time GFI Systems Inc #400 4406 50 th Ave Red Deer AB, T4N376 Canada www.gfisystems.ca gfi@gfisystems.ca Toll Free: 1.855.GFI.4GPS data matters Data. The one thing all companies must provide

More information

Uplink GPS Vehicle Tracking User Guide

Uplink GPS Vehicle Tracking User Guide Uplink GPS Vehicle Tracking User Guide UM1086 Draft October 8, 2014 Contents Introduction... 1 Abbreviations and Definitions... 1 Scope... 1 Logging In... 2 User Interface and Application Navigation...

More information

Providing drivers with actionable intelligence can minimize accidents, reduce driver claims and increase your bottom line. Equip motorists with the

Providing drivers with actionable intelligence can minimize accidents, reduce driver claims and increase your bottom line. Equip motorists with the Providing drivers with actionable intelligence can minimize accidents, reduce driver claims and increase your bottom line. Equip motorists with the ability to make informed decisions based on reliable,

More information

Auto Insurance First: Technology Lets Americans Who Drive Less, Pay Less

Auto Insurance First: Technology Lets Americans Who Drive Less, Pay Less News For Release July 17, 2007, Auto Insurance First: Technology Lets Americans Who Drive Less, Pay Less GMAC Insurance rolls out nationwide discount program for low-mileage driving; leverages in-vehicle

More information

GPS-based tracking to keep your business on course

GPS-based tracking to keep your business on course GPS-based tracking to keep your business on course RydeSmart offers easy, realtime access to critical information. Whether you need to pinpoint your vehicle location, get accurate mileage or performance

More information

1. Vehicle Security/Tracking Device

1. Vehicle Security/Tracking Device GPS Vehicle Tracking Devices 1. Vehicle Security/Tracking Device The size of a pack of cigarettes, the SuperGuardreports to you directly with alarm details and GPS location through SMS text messaging and

More information

Connected Car: Telematics Trends. Thomas Becher, VP Business Development, TomTom Telematics

Connected Car: Telematics Trends. Thomas Becher, VP Business Development, TomTom Telematics Connected Car: Telematics Trends Thomas Becher, VP Business Development, TomTom Telematics About TomTom World leader in location, navigation products & connected car services 4000 employees worldwide Headquartered

More information

Fit2Perform Business Proposition & Text Text Route to Market

Fit2Perform Business Proposition & Text Text Route to Market Fit2Perform Business Proposition & Route to Market Michael McHugh Post Expo Paris September 2015 Who am I? Michael McHugh Product Delivery Manager for Fit2Perform Based at Imperial College London Wearable

More information

Star rating driver traffic and safety behaviour through OBD and smartphone data collection

Star rating driver traffic and safety behaviour through OBD and smartphone data collection International Symposium on Road Safety Behaviour Measurements and Indicators Belgian Road Safety Institute 23 April 2015, Brussels Star rating driver traffic and safety behaviour through OBD and smartphone

More information

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department

A Shopping Tool for. Automobile Insurance. Mississippi Insurance Department A Shopping Tool for Automobile Insurance Mississippi Insurance Department 1 A Shopping Tool for 2014 National Association of Insurance Commissioners All rights reserved. National Association of Insurance

More information

Enterprise M2M Solutions. Fast, Flexible, Cost Effective

Enterprise M2M Solutions. Fast, Flexible, Cost Effective Enterprise M2M Solutions Fast, Flexible, Cost Effective The Procon Difference Procon provides M2M platforms and applications for the management of all mobile assets. We are an Australian owned company

More information

Features & Benefits at a Glance

Features & Benefits at a Glance Features & Benefits at a Glance REDTAIL s Fleet Management System (FMS) reduces expenses, improves customer service and provides tools to efficiently manage day to day fleet operations. REDTAIL GPS tracking

More information

GPS TRACKING. Tracknology 2012 All Rights Reserved VEHICLE TRAILERS

GPS TRACKING. Tracknology 2012 All Rights Reserved VEHICLE TRAILERS GPS TRACKING Tracknology 2012 All Rights Reserved VEHICLE TRAILERS The Tracknology Difference Our Software & Hardware Difference Tracknology s competitive edge is our web-based software. We specialise

More information

Technological revolution in the motor insurance market

Technological revolution in the motor insurance market Technological revolution in the motor insurance market Market differentiation, lower customer acquisition costs and reduced claims are indisputable advantages of using telematics based motor insurance

More information

Is Vehicle Data Recording Auto Insurance s Future? By Daniel Finnegan, PhD and Christopher Sirota, CPCU

Is Vehicle Data Recording Auto Insurance s Future? By Daniel Finnegan, PhD and Christopher Sirota, CPCU Is Vehicle Data Recording Auto Insurance s Future? By Daniel Finnegan, PhD and Christopher Sirota, CPCU Is Vehicle Data Recording Auto Insurance s Future? Vehicle data recorders and telematics are not

More information

HOW DRIVER BEHAVIOUR CAN IMPACT YOUR BUSINESS

HOW DRIVER BEHAVIOUR CAN IMPACT YOUR BUSINESS HOW DRIVER BEHAVIOUR CAN IMPACT YOUR BUSINESS HOW S MY DRIVING? Traditionally, businesses that run a fleet of vehicles have had to rely on feedback, whether it s positive or negative, from members of the

More information

OPTIMIZING FLEET MAINTENANCE WITH WIRELESS VEHICLE MANAGEMENT

OPTIMIZING FLEET MAINTENANCE WITH WIRELESS VEHICLE MANAGEMENT OPTIMIZING FLEET MAINTENANCE WITH WIRELESS VEHICLE MANAGEMENT Table of Contents 3 3 3 4 8 Overview Reduced Vehicle Maintenance Costs Monitoring Engine Performance with Networkfleet Vehicle Management System

More information