driver assisted - insurance reduced - connected cars · 2017-02-17 · driver assisted - insurance...
TRANSCRIPT
Driver Assisted - Insurance Reduced - Connected Cars
• Moderator - Doug Wilson – IoT Specialist, Verizon Partner Program – Verizon Wireless
• Jordan Guter - Senior Solutions Engineer -Geotab Inc.
• Craig Copland - Senior Vice President -Swiss Re Management (US) Corporation
• Sam Kanakamedala - Director of product Management and Market Development -LILEE Systems
• Nino Tarantino -North American CEO - OctoTelematics North America LLC
Driver Assisted - Insurance Reduced - Connected Cars
• If we want to talk about convergence, we don’t have to look beyond telematics and the automotive industry. Connected vehicles are making humans better drivers by delivering alerts and alarms concerning our surroundings and our driving behavior. How does this impact insurance? Have we seen an improvement in Highway safety? Are there lessons are to be learned that can be shared with other industries?
• Industrial IoT solutions company, leading transportation segment– Incorporating wireless hardware, software and services for mission critical applications
– Cloud infrastructure to support asset management and analytics across multiple verticals
• Founded in 2009 & headquartered in Silicon Valley
• Key Solutions– Connected Transport, Connected City, Connected Industry, Connected Retail
LILEE - Company Overview
Industry leading customers and partners
2 LTE-A Radios
2 Wi-Fi 802.11AC
Industrial PC with storage
HDMI, USB, Serial, and Digital I/O
Gyro for driver behavior/collision detection
OBD for Telemetry
LILEE 5-in-1 Gateway
Cloud Mgmt + Communication + Fog Computing + Application Interfaces + Sensors
Open Cloud platform
6/4 Gigabit Power Over Ethernet
GPS for location
IoT Hub for the vehicle
• Cyber security is the #1 focus of any provider of data from vehicles - OEM and aftermarket.
• Geotab active on standards committees developing the way data is collected, recorded, transmitted and made available.
• Fleet vehicles drive all day collecting more valuable information, contributing more potential for machine learning and advancement of solutions including improving road safety.
Fleets self-insure (loss control)While Consumer use of data from OEM vehicles may be for auto insurance providers, large fleet customers (all of Geotab fleet customers over 1,000 vehicles self-insure their claims)
Self-insurance requires more features:1. In-vehicle driver coaching (loss
control) (ex: IOX GO Talk)2. Third party Motor Vehicle
Record (MVR) reports policy with shared vehicles requires Driver ID (ex: IOX NFC)
3. Configurable Notifications and Rule that cater for individual fleets
Safety
Accident Detection
• Automatic accident retrieval and reconstruction
• Data is used for court cases, with Geotab actingas expert witness
• Back-up detection via accelerometer and engine
The Intelligence behind Insurance Innovation
Nino Tarantino, CEO North America@octousa
octoUSA.com
Then Now
BRAKING
DISTANCE
ACCELERATION
CORNERING
LOCATION
DURATIONROAD TYPE
CONTEXTUAL DATA
COLLISION
Then
Now
Collecting over 2,000 parameter combinations
Road Type
Distance
Collision
Direction
Location
Cornering
Braking
Duration
Comprehensive set of real-time driving data …
Data collection
Software, data and analytics
• Raw data is processed into actionable intelligence
• Risk correlation and actuarial capabilities support industry leading driver scoring models and pricing algorithms
…feeding into a proprietary analytics platform…
Advanced analytics
Insurance Solutions
Claim Management
Crash Reconstruction
Pricing Service
Emergency Call
Stolen VehicleRecovery
Risk Assessment
DigitalSolutions
…transforming auto insurance …
Insights for insurance companies
CONTINUOUS INNOVATION
Questions
• How will vehicle networks evolve to support analytics driven use cases such as insurance management?
• Is rideshare + insurance the killer app for IOT in Transportation?