Telematics and Insurance By Sreenu MushamAgenda
What are different products from Insurance?
Idle customers for Insurance?
What is Telematics?
Telematics is defined as machine-to-machine communication, whereby a device plugged into the on-board diagnostics (OBD) port of a vehicle, or originally installed by the manufacturer, collects particular data and sends it via wireless communication to the insurance carrier to derive meaningful and predictive insights about how individuals drive.
Telematics is a method of monitoring a vehicle gathering data such as mileage driven and harsh acceleration and braking.
Telematics provides..
Tracking the vehicle
Insurance Products
Earlier Insurance premium is based on average characteristics or certain populations’ gender or age and it is completely obsolete. Europe forced insurance companies not to discriminate the Gender for premium.
PAYD -- Pay As you Drive.
PHYD -- Pay How you Drive.
+ Road Side Assistance
+ Alerts on Usage
Collecting raw data through innovative and cost-effective hardware and mobile technologies
Data gathered from telematics devices and sensors requires a level of pruning and interpretation before analysis.
Telematics Generates Very Huge Data
Manage the massive data sets associated with telematics through highly scalable and secure data centers
Enhance predictability by correlating telematics data with other established data sets for a unique, more accurate risk model
Market Trend…
(Insurance Telematics USA) The potential US insurance telematics market is predicted to climb to 5 million users by the end of 2013 and 60 million by 2019.
According to ABI Research it's in the UK and Italy that insurers will be quickest to adopt this technology, predicting that the number of insurance telematics users in Europe will grow from 1.5 million in 2010 to 44 million in 2017.
Advantages of Telematics ..
Travels, Taxi owners, Heavy load owners can track the delivery
warn or change the driver.
Vehicles safety increases
We can see Reduction in Accidents
Thank You