The Future for Insurance Telematics Report

The Future for Insurance Telematics:
5mart vehicIe 1echnoIo¿y
Map out a winning insurance
telematics business model to
take your products mass-market
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OPEN NOW FOR YOUR SELECTED FINDINGS FROM THIS GROUND BREAKING REPORT
WWW.TELEMATICSUPDATE.COM/INSURANCEREPORT
Utilize global market research, case studies
& key business strategies to capitalize on the
new era of insurance telematics
ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORT
FOR MORE I NFORMATI ON CONTACT REPORTS@TELEMATI CSUPDATE. COM
The Future for Insurance Telematics: Smart Vehicle Technology
Map out a winning insurance telematics business
model to take your products mass-market
Vital information you need to win decommissioning business in the GoM following Idle Iron NTL
BUY TODAY FOR BI G
DISCOUNTS
The only report focussed exclusively on Insurance Telematics, purchase your copy today
and get;
■ The inside track on data, ínfcrmalícn and slralcgícs frcm cvcr zo ìcadíng
ínsurcrs, ULMs, and suppìícrs
■ Extensive analysis cf lhc prcducls and scrvíccs acrcss lhc ínsurancc
lcìcmalícs índuslry íncìudíng uS, Lurcpc |uK, 6crmany, Francc, Spaín, llaìy|,
ßrazíì, Sculh Afríca, kussía, }apan, and Chína
■ Comprehensive global market forecasts íncìudíng dcvícc manufaclurcrs and
wírcìcss carrícrs
■ Strategy advice cn a wínníng ínsurancc lcìcmalícs busíncss mcdcì íncìudíng
markcl scgmcnlalícn and parlncrshíps
■ Real-life case studies frcm kcy ínsurancc lcìcmalícs píìcls and prcgrams
■ Tcìcmalícs bascd usagc-bascd ínsurancc |ußl| slralcgícs cf majcr ínsurancc
carrícrs and gcl lhcír ccnlacl dclaíìs
Accessing the insurance market represents the most exciting and lucrative opportunity
for technology companies in the telematics space. There is a huge demand for business
intelligence on the strategies of car manufacturers and insurance companies as they
hold the key to mass market penetration for first and second tier telematics vendors.
Insurance applications have the potential to revolutionise our industry. We’re working
with telematics and insurance industry experts to bring you the intelligence you need
to capitalise on this game-changing opportunity.
The Insurance Telematics Report 2011 produced by Telematics Update is your
roadmap to understanding the strategies of the key industry players and unlocking
the rapidly emerging Insurance Telematics market.
A must read report for decommissioning service providers
Tícr 1 ccmpanícs lhal arc ìcckíng lc dírcclìy suppìy lcìcmalícs scìulícns lc ínsurancc
ccmpanícs and aulcmclívc ULMs
Tícr z ccmpanícs lhal suppìy lhc Tícr 1s
lnsurancc ccmpanícs and brckcragcs ìcckíng lc cnlcr ncw markcls.
Report Methodology
Thc aulhcrs ccnduclcd ín-dcplh ínlcrvícws wílh ¸o cxpcrls and dccísícn makcrs ín lhc
Tcìcmalícs cccsyslcm. Thís was suppìcmcnlcd by a dclaíìcd cnìínc survcy, whích rcccívcd
rcspcnscs frcm 1,¸ uscrs rcprcscnlalívc cf lhc ínsurancc lcìcmalícs vaìuc chaín. Addílícnaì
dala was galhcrcd usíng carcfuììy-scìcclcd scccndary scurcc malcríaì.
Thc rcpcrl was lhcn pccr-rcvícwcd by anaìysls al lwc ìcadíng gìcbaì managcmcnl
ccnsuìlancícs wílh ìcng-slandíng cxpcrícncc cf lhc ínsurancc índuslry.
Turn the page now for the ground breaking selected findings from this report!
ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORT
FOR MORE I NFORMATI ON CONTACT REPORTS@TELEMATI CSUPDATE. COM
The Future for Insurance Telematics: Smart Vehicle Technology
Map out a winning insurance telematics business
model to take your products mass-market
Vital information you need to win decommissioning business in the GoM following Idle Iron NTL
BUY TODAY FOR BI G
DISCOUNTS
lncìudcs
schcmalíc
íììuslralícns
13 labìcs cf ncw
dala and findíngs
Cìcar lcxl fcrmal
Uvcr 65
ccmprchcnsívc
figurcs
Uvcr 97 pagcs
cf anaìysís,
lcchncìcgícs and
mclhcds
Selected comments from over 100 pages of in-depth research
50%
of survey participants
predict significant
insurance telematics
growth of over
100% in 2015
BRIC markets represent
one of the most
attractive propositions for
investment in the future
Privacy and data security issues are a
major concern for insurance telematics
end-users and customers
believe that the most appropriate role for
government and regulators in the insurance
market is to create a level playing ground
“Be transparent and let the customers know
how the data will be used and you won’t
have a problem. Customers own the data
and should control use by third-parties ”
“GPS has become a dirty word in our
society because of privacy concerns, so you
won’t see many products with built-in GPS”
Nearly 15% predicted
automotive OEMs will control
the insurance telematics
market by 2015
$$$
30 íììuslralívc
phclcgraphs
ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORT
FOR MORE I NFORMATI ON CONTACT REPORTS@TELEMATI CSUPDATE. COM
The Future for Insurance Telematics: Smart Vehicle Technology
Map out a winning insurance telematics business
model to take your products mass-market
Vital information you need to win decommissioning business in the GoM following Idle Iron NTL
BUY TODAY FOR BI G
DISCOUNTS
6.z.¸ 6crmany
6.z.µ Francc
6.z.¸ llaìy
6.¸ ßrazíì
6.µ kussía
6.¸ lndía
6.6 Chína
6., Canada
6.8 Auslraìía and Icw Zcaìand
6.q Sculh Afríca
7. CA5£ 51u0I£5
,.1 Prcgrcssívc
,.z 6cncraì Mclcrs UnSlar
,.¸ hyundaí ßìucLínk
,.µ Scclcr fccus: Tccnagc drívcrs
,.¸ wuncììí
,.6 Uclc Tcìcmalícs
8. 1R£ Ih5uRAhC£ 1£L£MA1IC5 LAh05CAP£ Ih 2015
9. 51RA1£CIC PAR1h£R5RIP5
10. CDhCLu5IDh5
11. ACKhDwL£0CM£h15
Smarl vchícìc Tcchncìcgy: Thc fulurc fcr lnsurancc lcìcmalícs
Smarl vchícìc Tcchncìcgy: Thc fulurc fcr lnsurancc lcìcmalícs
Contents
£X£Cu1Iv£ 5uMMARY
1. Ih1RD0uC1IDh
1.1 Sccpc
1.z lnlcndcd audícncc
1.¸ Mclhcdcìcgy
1.µ lnlcrncl survcy and rcscarch qucslícns
2. MARK£1 Dv£RvI£w
z.1 Thc slalc cf mclcr ínsurancc
z.z Thc gìcbaì cccncmy and aulcmclívc, ínsurancc, and lcìcmalícs
z.¸ Ccmmcrcíaì and ccnsumcr lcìcmalícs
z.¸.1 Ccmmcrcíaì]flccl markcls
z.¸.z Pcrscnaì]ccnsumcr lcìcmalícs
3. PRD0uC15 Ah0 5£RvIC£5
¸.1 Mclcr ínsurancc
¸.z lnsurancc lcìcmalícs: A ncw paradígm.
¸.¸ lnsurancc lcìcmalícs prcducls and scrvíccs: A laxcncmy.
¸.¸.1 usagc-ßascd lnsurancc
¸.¸.z Pay hcw ¥cu 0rívc (Ph¥0) and Managc hcw ¥cu 0rívc
(Mh¥0)
¸.¸.¸ vaìuc-addcd scrvíccs
¸.¸.µ Cuslcmcr rcìalícnshíp managcmcnl
4. Ih5uRAhC£ 1£L£MA1IC5 51AK£RDL0£R5
µ.1 lnsurcrs
µ.z vchícìc ULMs
µ.¸ Tcìcmalícs Scrvícc Prcvídcrs
µ.µ Scìulícn prcvídcrs
µ.¸ 0cvícc manufaclurcrs
µ.6 6cvcrnmcnls, rcguìalcrs, advccalcs, and firsl rcspcndcrs
µ.6.1 unílcd Slalcs
µ.6.z Lurcpc
µ.6.z.1 kcguìalícn and supcrvísícn
µ.6.z.z kísk scìcclícn and prícíng
µ., Cuslcmcrs
µ.,.1 Ccmmcrcíaì]flccl cuslcmcrs
µ.,.z Pcrscnaì]ccnsumcr
µ.8 lTPS saìcs fuìfiììmcnl and dcvícc ínslaììalícn
µ.8.1 ßuíìl-ín lcìcmalícs
µ.8.z Aflcr-markcl
5. 51RA1£CIC I55u£5
¸.1 Chaììcngcs rcslraíníng lhc markcl
¸.z Thc rcguìalcry cnvírcnmcnl and ìack cf harmcnízalícn
¸.¸ 0cvícc, lcchncìcgy and ínslaììalícn ccsls
¸.µ wínníng busíncss cascs
6. MARK£1 fDR£CA515
6.1 uS markcl cvcrvícw
6.1.1 lTPS markcl sízc ín lhc uS
6.1.1.z Aulc ínsurancc markcl sízc
6.1.1.¸ Iumbcr cf dcvíccs and rcvcnuc
6.1.z uS rcguìalcry and slalc cnvírcnmcnls
6.1.z.1 Caìífcrnía
6.1.z.z Míchígan
6.1.z.¸ Icw ¥crk
6.1.z.µ Tcxas
6.1.z.¸ Ccìcradc
6.1.¸ lnsurancc pìaycrs
6.1.¸.1 Prcgrcssívc
6.1.¸.z Aììslalc.
6.1.¸.¸ AAA
6.1.¸.µ 6MAC
6.1.¸.¸ Slalc Farm
6.1.¸.6 6cícc
6.1.µ 0cvícc manufaclurcrs
6.1.¸ TSPs and wírcìcss carrícrs
6.1.¸.1 Crcss Ccunlry]ATX
6.1.¸.z hughcs Tcìcmalícs
6.1.¸.¸ wírcìcss carrícrs
6.z Lurcpc
6.z.o.z Markcl dynamícs
6.z.1 unílcd Kíngdcm
6.z.z Spaín
LI51 Df fICuR£5
Fígurc 1: survcy dcmcgraphícs
Fígurc z: whal dc ycu lhínk ís lhc mcsl apprcpríalc rcìc fcr
gcvcrnmcnl and]cr rcguìalcrs ín lhc ínsurancc markcl:
Fígurc ¸: whc dc ycu bcìícvc wíìì ìcad]ccnlrcì lhc ínsurancc
lcìcmalícs markcl by zo1¸ (aìì survcy rcspcndcnls):...1z
Fígurc µ: whích cf lhc fcììcwíng slalcmcnls bcsl dcscríbcs ycur
pcrccplícn cf hcw lhc ínsurancc lcìcmalícs índuslry vícws
prívacy and dala sccuríly íssucs (fcr rcspcndcnls currcnlìy
mcnílcríng lhc scclcr):
Fígurc ¸: whích cf lhc fcììcwíng slalcmcnls bcsl dcscríbcs ycur
pcrccplícn cf hcw lhc ínsurancc lcìcmalícs índuslry vícws
prívacy and dala sccuríly íssucs (fcr rcspcndcnls ncl ycl
parlícípalíng ín lhc scclcr):
Fígurc 6: uS car saìcs fcììcwíng rcccvcry prcdíclícns
Fígurc ,: ínsurancc undcrwrílíng cxpcnsc ralíc
Fígurc 8: lTPS ncw paradígm – cnabìíng PA¥0, Ph¥0 lo Mh¥0
Fígurc q: grcwlh cf ínsurancc lcìcmalícs prcducls scrvíccs ís dala
drívcn
Fígurc 1o: Smarlphcnc + drívíng ≠ safcly
Fígurc 11: adaplívc cruísc ccnlrcì (carìy A0AS) lhc fcrcrunncr cf
Cccpcralívc Safcly Syslcms
Fígurc 1z: vaìuc-addcd fcalurcs mcsl dcsírcd
Fígurc 1¸: }0 Pcwcr and Assccíalcs zooq uS aulcmclívc cmcrgíng
lcchncìcgícs sludy
Fígurc 1µ: P0I as pìalfcrm – nav, lraffi c, ußl and Mh¥0
Fígurc 1¸: ínsurancc lcìcmalícs vaìuc chaín – dala flcws
Fígurc 16: lhc rcìcs cf slakchcìdcrs and hcw lhcy wcrk lcgclhcr
Fígurc 1,: Fcrd wcrk Scìulícns
Fígurc 18: pcrscnaì and ccmmcrcíaì ínsurancc díslríbulícn channcìs,
dírccl vs índcpcndcnl agcnls
Fígurc 1q: ncw lcchncìcgy adcplícn ralcs
Fígurc zo: ccnsumcrs wanl dala lransparcncy
Fígurc z1: lhc dynamícs cf lhc markcl
Fígurc zz: vaìuc chaín aìlcrnalívcs
Fígurc z¸: Aììslalc 0rívcwísc mcduìc
Fígurc zµ: ußl cppcrluníly fcr uS aflcr-markcl uníls
Fígurc z¸: lTPS aflcrmarkcl dcvícc rcvcnuc – uS aflcr -markcl
To see full list of tables visit www.telematicsupdate.com/
insurancereport
ORDER YOUR COPY TODAY, VISIT WWW.TELEMATICSUPDATE.COM/INSURANCEREPORT
FOR MORE I NFORMATI ON CONTACT REPORTS@TELEMATI CSUPDATE. COM
The Future for Insurance Telematics: Smart Vehicle Technology
Map out a winning insurance telematics business
model to take your products mass-market
Vital information you need to win decommissioning business in the GoM following Idle Iron NTL
BUY TODAY FOR BI G
DISCOUNTS
Format: Sccurc P0F
Extent: 1oo pagcs
Release date: May zo11
Price: $1795
Online: www.cìcmalícsupdalc.ccm]
ínsuranccrcpcrl
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Y O U R I N F O R MAT I O N
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LXPlk¥ 0ATL: SLCuklT¥ CU0L:
Tcìcmalícs updalc arc a busíncss
uníl cf FC ßusíncss lnlcììígcncc.
Tcìcmalícs updalc ís lhc rcfcrcncc
pcínl fcr aulcmclívc lcìcmalícs, mc-
bíìc and wcb índuslrícs and a ccrncrslcnc fcr ccmmuníca-
lícns wílhín lhc índuslry. wc aím lc prcvídc ycu wílh índus-
lry fccuscd ncws, cvcnls, rcpcrls, updalcs and ínfcrmalícn.
wcrkíng wílh ycu, Tcìcmalícs updalc aíms lc bc lhc hub cf
lhc aulcmclívc, mcbíìc 8 wcb ccmmuníly cnabìíng díaìcguc
lhrcughcul lhc índuslry and drívíng lcìcmalícs fcrward. wc
wanl ycu ínvcìvcd - íl’s ycur índuslry aflcr aìì - pìcasc gcl ín
lcuch íf ycu lhínk wc can dc cvcn mcrc.
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