http://www.prweb.com/releases/2011/6/prweb8586726.htm
Insurance Telematics Products & Services Set To Gain from Data Availability
The growth of insurance telematics products and services (ITPS) will be driven by data obtained by consumers and given to insurers. ITPS will grow from 300,000 units to over one million in 2011, (Source Telematics Update).
ITPS builds on the ability of telematics technology to collect, aggregate and analyse data about driving behaviour and road conditions. As more data is made available, products such as Pay As You Drive (PAYD) and Manage How You Drive (MHYD) will increase in popularity.
Telematics Update announced the publication of a new report, The Future for Insurance: Smart Vehicle Technology. The report details an extensive analysis of the products and services across the insurance telematics industry including US, Europe, Brazil, South Africa, Russia, Japan, and China.
The report assesses available data, information and strategies from over 20 leading insurers, OEMs, and suppliers. It is targeted at the entire insurance telematics value chain, from insurers, vehicle OEM, device manufacturers, solution providers and data aggregators.
The Future for Insurance: Smart Vehicle Technology is now available and a sample of the report can be seen by visiting, http://www.telematicsupdate.com/insurance-report/
The report outlines:
Comprehensive global market forecasts including device manufacturers and wireless carriers
Strategy advice on a winning insurance telematics business model including market segmentation and partnerships
Real-life case studies from key insurance telematics pilots and programs
Telematics usage-based insurance [UBI] strategies of major insurance carriers
The latest updates on a complex regulatory and legislative landscape
For more information on how to purchase the report go to http://www.telematicsupdate.com/insurance-report/
The report takes a global look at the emerging ITPS market , examining insurance telematics products from around the globe and focuses on key growth areas.
Telematics Update reports are the most prestigious in the industry. We produce business focussed telematics reports in North America, Europe & Asia.
Friday, June 24, 2011
Telematics-Powered Auto Insurance Poised to Grow Rapidly
http://www.insurancetech.com/blogs/231000287
Under the influence of regulation, shifting consumer attitudes and thoughtful product development, usage-based insurance offerings have quietly caught on and now insurers and service providers are betting on growth.
Call it Pay-As-You-Drive (PAYD) or call it usage-based auto insurance (UBI), telematics-powered auto insurance is taking off.
In Europe, usage-based auto insurance got a boost from a regulation mandating that new cars manufactured in the European Union have a "black box" telematic advice installed, as Cathering Stagg-Macey of Celent reports:
This is part of a pan-European initiative called e-Call which links up emergency services across the region. So if you are holidaying in France, in a new car, and have an accident, your telematics device makes a call into the local emergency services. The idea being that quick responses to accidents will save lives.
Even without such regulation, telematics-based insurance is blossoming in the United States.
Towers Watson announced earlier this week that it is working with several large insurers and has gathered information from thousands of vehicles across the country as part of what it calls its DriveAbility offering. The service provides analytical support for insurers, which the vendor says translates to an individual score for each vehicle to both inform auto policy rating and encourage safer driving habits.
According to Towers Watson director Robin Harbage, Progressive has more than 250,000 insureds enrolled in its Snapshot Pay-As-You-Drive program. Insurers representing an additional 20 percent of private personal auto premium are running or preparing to run internal UBI pilots, according to Harbage. From a geographic perspective, UBI programs have been implemented in each state except Hawaii, and 17 states have implemented at least four personal auto UBI programs.
"Others have not been as forthcoming, but we know that insurers who represent over 60 percent of the US market share for private passenger auto have already introduced some form of usage-based insurance in consumer insurance products for one or more states," Harbage tells Insurance & Technology.
Usage-based personal auto insurance sputtered when originally pioneered by Progressive in the U.S. in the early 2000s, though the company's methodology was used with greater success in the U.K. Public reluctance to take advantage of usage-based insurance in the U.S. was largely a matter of privacy, related to a perception that such products introduced an element of "Big Brother is watching you" to one's private life. However, in the intervening years consumers' attitudes have softened, among other factors that sweeten the usage-based proposition in the consumer's mind, suggests Celent's Stagg-Macey.
The industry has learnt much about telematics since the early part of the last decade. There are a variety of ways to gather data from black boxes, and not all data is required to be kept and stored. Consumer attitudes, whilst still varying regionally, seem less hardened to the idea of being monitored. There are several companies offering turnkey solutions to insurers -- from installing the device, collecting the data and providing the analytics.
Insurers' offerings are also evolving to new, more sophisticated models, Stagg-Macey says:
Perhaps the biggest shift is from what has been called pay-as-you-drive to pay-how-you-drive. The first model based on utility pricing can't take into account the difference in risk between young and experienced drivers. It doesn't take into account the different risk of country roads and highways. Behavioral-based pricing is the evolution from the utility model.
Some market leaders will use telematics-based products as a differentiator, but all the large auto insurers will need to review telematics in order to be compliant with impending legislation, Stagg-Macey says.
"It's now the right time to review telematics," Stagg-Macey advises.
Under the influence of regulation, shifting consumer attitudes and thoughtful product development, usage-based insurance offerings have quietly caught on and now insurers and service providers are betting on growth.
Call it Pay-As-You-Drive (PAYD) or call it usage-based auto insurance (UBI), telematics-powered auto insurance is taking off.
In Europe, usage-based auto insurance got a boost from a regulation mandating that new cars manufactured in the European Union have a "black box" telematic advice installed, as Cathering Stagg-Macey of Celent reports:
This is part of a pan-European initiative called e-Call which links up emergency services across the region. So if you are holidaying in France, in a new car, and have an accident, your telematics device makes a call into the local emergency services. The idea being that quick responses to accidents will save lives.
Even without such regulation, telematics-based insurance is blossoming in the United States.
Towers Watson announced earlier this week that it is working with several large insurers and has gathered information from thousands of vehicles across the country as part of what it calls its DriveAbility offering. The service provides analytical support for insurers, which the vendor says translates to an individual score for each vehicle to both inform auto policy rating and encourage safer driving habits.
According to Towers Watson director Robin Harbage, Progressive has more than 250,000 insureds enrolled in its Snapshot Pay-As-You-Drive program. Insurers representing an additional 20 percent of private personal auto premium are running or preparing to run internal UBI pilots, according to Harbage. From a geographic perspective, UBI programs have been implemented in each state except Hawaii, and 17 states have implemented at least four personal auto UBI programs.
"Others have not been as forthcoming, but we know that insurers who represent over 60 percent of the US market share for private passenger auto have already introduced some form of usage-based insurance in consumer insurance products for one or more states," Harbage tells Insurance & Technology.
Usage-based personal auto insurance sputtered when originally pioneered by Progressive in the U.S. in the early 2000s, though the company's methodology was used with greater success in the U.K. Public reluctance to take advantage of usage-based insurance in the U.S. was largely a matter of privacy, related to a perception that such products introduced an element of "Big Brother is watching you" to one's private life. However, in the intervening years consumers' attitudes have softened, among other factors that sweeten the usage-based proposition in the consumer's mind, suggests Celent's Stagg-Macey.
The industry has learnt much about telematics since the early part of the last decade. There are a variety of ways to gather data from black boxes, and not all data is required to be kept and stored. Consumer attitudes, whilst still varying regionally, seem less hardened to the idea of being monitored. There are several companies offering turnkey solutions to insurers -- from installing the device, collecting the data and providing the analytics.
Insurers' offerings are also evolving to new, more sophisticated models, Stagg-Macey says:
Perhaps the biggest shift is from what has been called pay-as-you-drive to pay-how-you-drive. The first model based on utility pricing can't take into account the difference in risk between young and experienced drivers. It doesn't take into account the different risk of country roads and highways. Behavioral-based pricing is the evolution from the utility model.
Some market leaders will use telematics-based products as a differentiator, but all the large auto insurers will need to review telematics in order to be compliant with impending legislation, Stagg-Macey says.
"It's now the right time to review telematics," Stagg-Macey advises.
Thursday, June 23, 2011
Towers Watson DriveAbilitySM: UBI Taking Hold Among Auto Insurers
http://www.thestreet.com/story/11161660/1/towers-watson-driveabilitysm-ubi-taking-hold-among-auto-insurers.html
As the concept of usage-based auto insurance (UBI) becomes increasingly prevalent, global professional services company Towers Watson (NYSE, NASDAQ: TW) is working with several large insurers, and has gathered and analyzed information from thousands of vehicles throughout the United States as part of its DriveAbility SM service offering. DriveAbility provides analytical support for insurers that translates to an individual score for each vehicle to both inform auto policy rating and encourage safer driving habits.
For insurers, UBI offers a new way for companies to differentiate their products, while also increasing profits and retention as the technology utilizes actual driving data to determine more accurate premiums. UBI helps customers by not only empowering them to improve their rates, but also helps them to select the most appropriate insurance product for their needs; for example, parents may select UBI products to monitor their teen drivers.
UBI goes beyond traditional insurance pricing algorithms by using actual vehicle operation data to measure risk exposure, achieved in near real time. With DriveAbility, insurers can provide policyholders with personal driving data via the Internet on a daily basis. Studies have demonstrated dramatic reductions in risky driving behavior with regular feedback.
“Where verified mileage is not already in use as a rating factor, usage-based rating offers an immediate upgrade in price accuracy,” said Robin Harbage, a Towers Watson director. “There are also major advances in risk segmentation from using more detailed vehicle data. An excellent example of this is traffic density and road type based on when and where the vehicle is actually driven.”
In addition to the U.S., several usage-based rating initiatives have emerged globally — in Canada, Europe, Israel, Japan and South Africa.
“Early adopters of UBI will have an enormous competitive advantage — the ability to differentiate their products and services, establish new levels of risk segmentation using information known only to them, and dramatically improve profits and retention,” said Harbage.
As the concept of usage-based auto insurance (UBI) becomes increasingly prevalent, global professional services company Towers Watson (NYSE, NASDAQ: TW) is working with several large insurers, and has gathered and analyzed information from thousands of vehicles throughout the United States as part of its DriveAbility SM service offering. DriveAbility provides analytical support for insurers that translates to an individual score for each vehicle to both inform auto policy rating and encourage safer driving habits.
For insurers, UBI offers a new way for companies to differentiate their products, while also increasing profits and retention as the technology utilizes actual driving data to determine more accurate premiums. UBI helps customers by not only empowering them to improve their rates, but also helps them to select the most appropriate insurance product for their needs; for example, parents may select UBI products to monitor their teen drivers.
UBI goes beyond traditional insurance pricing algorithms by using actual vehicle operation data to measure risk exposure, achieved in near real time. With DriveAbility, insurers can provide policyholders with personal driving data via the Internet on a daily basis. Studies have demonstrated dramatic reductions in risky driving behavior with regular feedback.
“Where verified mileage is not already in use as a rating factor, usage-based rating offers an immediate upgrade in price accuracy,” said Robin Harbage, a Towers Watson director. “There are also major advances in risk segmentation from using more detailed vehicle data. An excellent example of this is traffic density and road type based on when and where the vehicle is actually driven.”
In addition to the U.S., several usage-based rating initiatives have emerged globally — in Canada, Europe, Israel, Japan and South Africa.
“Early adopters of UBI will have an enormous competitive advantage — the ability to differentiate their products and services, establish new levels of risk segmentation using information known only to them, and dramatically improve profits and retention,” said Harbage.
Speed Limit Confusion John Cadogan tells2UE
Speed Limit Confusion
The NSW Government will conduct a speed zone audit to identify which roads have confusing speed limits and multiple zones. Motoring expert John Cadogan tells Jason Morrison it’s about time.
http://www.2ue.com.au/blogs/2ue-blog/speed-limit-confusion/20110622-1gehr.html
The NSW Government will conduct a speed zone audit to identify which roads have confusing speed limits and multiple zones. Motoring expert John Cadogan tells Jason Morrison it’s about time.
http://www.2ue.com.au/blogs/2ue-blog/speed-limit-confusion/20110622-1gehr.html
snapshot in missisipi
http://www.clarionledger.com/article/20110622/BIZ/106220320/Usage-based-car-insurance-launched-by-Progressive?odyssey=mod|newswell|text|Home|s
Progressive Insurance has launched a usage-based auto insurance discount program that's said to be the first of its kind in Mississippi.
The company's Snapshot program allows policyholders to save up to 30 percent based on things like how often they drive, how safely and at what time of day or night a person drives.
The company said "several thousand" customers in Mississippi have signed up since Snapshot came to the state last month but wouldn't provide an exact figure.
The program centers on placing a device below a vehicle's steering column that will track mileage, how often a vehicle is likely accelerating or braking based on mph readings and what time of day or night someone is driving.
It does not have GPS capability, so it cannot track where a motorist is at a given time, says Richard Hutchinson, Progressive's Snapshot program general manager.
It's not designed to measure if a motorist is illegally speeding or raise their insurance rates if usage is high, he said.
Generally, the fewer miles and instances of accelerating and braking a motorist has, the more likely that person is to save, he said.
"It looks at what kind of driver you are versus the rest of the population," Hutchinson said. "Are you an aggressive driver? Are you a defensive driver? This gives people the chance to prove the old argument of 'I can drive better than you think I can.' "
State Insurance Commissioner Mike Chaney says it's the only usage-based program in the state that uses technology to transmit driver data to determine savings.
"A lot of carriers are moving toward a system which charges people based on their usage," he said.
State Farm's "Drive Safe and Save Program" touts savings of up to 45 percent based on how many miles someone drives.
Policyholders can send odometer readings to the company directly or through OnStar devices in their vehicles to determine the amount of savings.
The program is available in four states, and State Farm spokesman Roszell Gadson says there are no immediate plans to launch it in Mississippi.
Progressive's devices have to be purchased as part of a driver's policy. After 30 days, a motorist's initial savings are determined, with a definitive amount set after six months. The devices are then sent back to the company, Hutchinson said.
Chaney said he hopes insurance risk isn't unnecessarily shifted should a huge chunk of motorists perform successfully under Progressive's program.
But he said such programs also could lead to greater driver safety in the state.
Snapshot is available in 37 states.
Progressive Insurance has launched a usage-based auto insurance discount program that's said to be the first of its kind in Mississippi.
The company's Snapshot program allows policyholders to save up to 30 percent based on things like how often they drive, how safely and at what time of day or night a person drives.
The company said "several thousand" customers in Mississippi have signed up since Snapshot came to the state last month but wouldn't provide an exact figure.
The program centers on placing a device below a vehicle's steering column that will track mileage, how often a vehicle is likely accelerating or braking based on mph readings and what time of day or night someone is driving.
It does not have GPS capability, so it cannot track where a motorist is at a given time, says Richard Hutchinson, Progressive's Snapshot program general manager.
It's not designed to measure if a motorist is illegally speeding or raise their insurance rates if usage is high, he said.
Generally, the fewer miles and instances of accelerating and braking a motorist has, the more likely that person is to save, he said.
"It looks at what kind of driver you are versus the rest of the population," Hutchinson said. "Are you an aggressive driver? Are you a defensive driver? This gives people the chance to prove the old argument of 'I can drive better than you think I can.' "
State Insurance Commissioner Mike Chaney says it's the only usage-based program in the state that uses technology to transmit driver data to determine savings.
"A lot of carriers are moving toward a system which charges people based on their usage," he said.
State Farm's "Drive Safe and Save Program" touts savings of up to 45 percent based on how many miles someone drives.
Policyholders can send odometer readings to the company directly or through OnStar devices in their vehicles to determine the amount of savings.
The program is available in four states, and State Farm spokesman Roszell Gadson says there are no immediate plans to launch it in Mississippi.
Progressive's devices have to be purchased as part of a driver's policy. After 30 days, a motorist's initial savings are determined, with a definitive amount set after six months. The devices are then sent back to the company, Hutchinson said.
Chaney said he hopes insurance risk isn't unnecessarily shifted should a huge chunk of motorists perform successfully under Progressive's program.
But he said such programs also could lead to greater driver safety in the state.
Snapshot is available in 37 states.
Wednesday, June 22, 2011
“Lessons from PAYD in Europe” by Amaguiz (Groupama).
Hi LinkedIn Group Member,
Telematics Update has recently launched “Insurance Telematics USA 2011” Conference & Expo (September 8 - 9, Chicago, USA). To celebrate this and the huge success of the recent Insurance Telematics Europe 2011, here is a presentation from one of the most popular sessions at the European show:
“Lessons from PAYD in Europe” by Amaguiz (Groupama).
Click here to view the full presentation: http://www.telematicsupdate.com/insurance-telematics/groupama.shtml
Key Points from the presentation:
• Analysis of Pay As You Drive (PAYD) Car insurance in France and the World market
• How Amaguiz built its PAYD product in collaboration with Octo Telematics
• A unique insight into Amaguiz's product offering and customer experience
• Amaguiz's key findings from their project and their plans for the future
I thought it was really interesting to hear from one of Europe’s leading insurance telematics ventures and learn how they have developed the first PAYD auto insurance in France for any driver.
I’d like to hear what you think and if it’s relevant to the American insurance market?
Best regards,
Ben
P.S. If you’re interested in attending Insurance Telematics USA 2011, then I’d like to offer you $50 off current ticket prices. Just quote “1954link” when booking online to benefit. (This means if you book before our June 24, you could save a total of $250 off the full price tickets!).
Register via the secure site here: https://secure.telematicsupdate.com/insurance-telematics/register.shtml
Telematics Update has recently launched “Insurance Telematics USA 2011” Conference & Expo (September 8 - 9, Chicago, USA). To celebrate this and the huge success of the recent Insurance Telematics Europe 2011, here is a presentation from one of the most popular sessions at the European show:
“Lessons from PAYD in Europe” by Amaguiz (Groupama).
Click here to view the full presentation: http://www.telematicsupdate.com/insurance-telematics/groupama.shtml
Key Points from the presentation:
• Analysis of Pay As You Drive (PAYD) Car insurance in France and the World market
• How Amaguiz built its PAYD product in collaboration with Octo Telematics
• A unique insight into Amaguiz's product offering and customer experience
• Amaguiz's key findings from their project and their plans for the future
I thought it was really interesting to hear from one of Europe’s leading insurance telematics ventures and learn how they have developed the first PAYD auto insurance in France for any driver.
I’d like to hear what you think and if it’s relevant to the American insurance market?
Best regards,
Ben
P.S. If you’re interested in attending Insurance Telematics USA 2011, then I’d like to offer you $50 off current ticket prices. Just quote “1954link” when booking online to benefit. (This means if you book before our June 24, you could save a total of $250 off the full price tickets!).
Register via the secure site here: https://secure.telematicsupdate.com/insurance-telematics/register.shtml
NSW government has pledged $1 million to fund a graphically bloody and violent road crash simulation aimed at shocking young people into safe driving.
Road safety program a shocker
http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=71220&vf=26
AAP, June 21, 2011
The NSW government has pledged $1 million to fund a graphically bloody and violent road crash simulation aimed at shocking young people into safe driving.
The NSW government has committed $1 million to fund a road safety forum which includes material so bloody and violent that some young viewers have required counselling after seeing it.
Premier Barry O'Farrell was at Sydney's Acer Arena on Tuesday to open the Australian Youth and Road Trauma Forum.
Thousands of high school students from across NSW and the ACT witnessed a confronting reconstruction on the arena floor of the aftermath of a violent car crash.
The reconstructed car crash featured a vehicle which had slammed into a power pole, with one of the young occupants, played by actors, lying in a pool of blood after apparently being flung from the car.
A "dead" motorbike rider lay nearby while a second occupant of the car slumped bloody and injured in the front seat as the driver frantically tried to save him.
They also watched videos of young car crash survivors recounting their experiences.
The shock tactics are a key part of the three-day program, which is designed to hammer home road safety messages to children before they gain their P-plates.
Mr O'Farrell announced the government was committing $1 million to fund the forum for the next four years.
"It's incredibly important ... the doctors, nurses and others involved in this program at Westmead (Hospital) say that 28 per cent of people that come in from motor accidents are aged under 26," Mr O'Farrell told reporters.
"They're tired of putting people back together again and would like to ensure that young people going for their licences understand the importance of driving safely 24/7."
He admitted previous forums had left children requiring counselling.
"I watched this program two years ago, I saw how graphic it was, I saw the impact it had upon many students, some of whom required counselling at the end of it."
He defended the graphic nature of the show.
"But if that's what it takes to make our young drivers safer on the roads, then I say all power to those who organise this program."
http://www.drive.com.au/Editorial/ArticleDetail.aspx?ArticleID=71220&vf=26
AAP, June 21, 2011
The NSW government has pledged $1 million to fund a graphically bloody and violent road crash simulation aimed at shocking young people into safe driving.
The NSW government has committed $1 million to fund a road safety forum which includes material so bloody and violent that some young viewers have required counselling after seeing it.
Premier Barry O'Farrell was at Sydney's Acer Arena on Tuesday to open the Australian Youth and Road Trauma Forum.
Thousands of high school students from across NSW and the ACT witnessed a confronting reconstruction on the arena floor of the aftermath of a violent car crash.
The reconstructed car crash featured a vehicle which had slammed into a power pole, with one of the young occupants, played by actors, lying in a pool of blood after apparently being flung from the car.
A "dead" motorbike rider lay nearby while a second occupant of the car slumped bloody and injured in the front seat as the driver frantically tried to save him.
They also watched videos of young car crash survivors recounting their experiences.
The shock tactics are a key part of the three-day program, which is designed to hammer home road safety messages to children before they gain their P-plates.
Mr O'Farrell announced the government was committing $1 million to fund the forum for the next four years.
"It's incredibly important ... the doctors, nurses and others involved in this program at Westmead (Hospital) say that 28 per cent of people that come in from motor accidents are aged under 26," Mr O'Farrell told reporters.
"They're tired of putting people back together again and would like to ensure that young people going for their licences understand the importance of driving safely 24/7."
He admitted previous forums had left children requiring counselling.
"I watched this program two years ago, I saw how graphic it was, I saw the impact it had upon many students, some of whom required counselling at the end of it."
He defended the graphic nature of the show.
"But if that's what it takes to make our young drivers safer on the roads, then I say all power to those who organise this program."
Tuesday, June 21, 2011
Navteq Report: When It Comes to Mobile Ads, Context Counts
By: Ian Mansfield | 20th Jun 2011
http://www.cellular-news.com/story/49651.php
The acceptance of advertising in navigation apps is high in Europe - 67% percent of consumers said they valued promotional offers in exchange for free use of their favourite content, according to a survey commissioned by Navteq.
The objectives of the study were to determine what types of dynamic and other location content appeal most to users, measure tolerance for mobile ads in exchange for content, and understand consumer perceptions of various forms of advertising when integrated within the navigation experience.
The research found consumers placed the highest value in - and said they most often use - real-time traffic services. The insight is significant in that it suggests location-based mobile ads served in the context of traffic services command a higher degree of consumer use and attention and may provide a higher return on investment for advertisers.
The most valued content services are traffic information, area incident notification, petrol station locator, parking locator, and interactive 3D data-modelled maps of complex interior spaces such as those that are available through Navteq's recently launched Destination Maps. The majority of survey respondents expressed they would use interior maps like Destination Maps at least once a week and would value ads in exchange for access to the content.
"The research shows most persuasively that real-time traffic and location-based advertising is a powerful combination. For publishers, it means they can increase the stickiness of their apps with highly valued content like Navteq Traffic, and support that content with ads that are relevant to the location experience via Navteq LocationPoint ads," said Christopher Rothey, vice president, advertising, Navteq.
The research showed:
Sixty-seven percent said they would accept ads in exchange for access to their favourite location content service. Acceptance was highest in Spain (82%) and Italy (69%)
Consumers in Europe ranked traffic as the content service they value most
The traffic information service would generate the highest frequency of use among respondents (72% would use it on a weekly basis)
Fifty-four percent expressed interest in receiving indoor location content in exchange for ads
The preferred type of advertising is discounts/vouchers, followed by merchant information
The preferred categories for Location-Based Advertising in the navigation context are parking garages and petrol stations followed by tourist information and attractions and restaurants
Methodology
The online survey sampled 1,021 cell phone navigation users, Personal Navigation Device (PND) and in-vehicle navigation users in France, Germany, Italy, Spain and the UK.
http://www.cellular-news.com/story/49651.php
The acceptance of advertising in navigation apps is high in Europe - 67% percent of consumers said they valued promotional offers in exchange for free use of their favourite content, according to a survey commissioned by Navteq.
The objectives of the study were to determine what types of dynamic and other location content appeal most to users, measure tolerance for mobile ads in exchange for content, and understand consumer perceptions of various forms of advertising when integrated within the navigation experience.
The research found consumers placed the highest value in - and said they most often use - real-time traffic services. The insight is significant in that it suggests location-based mobile ads served in the context of traffic services command a higher degree of consumer use and attention and may provide a higher return on investment for advertisers.
The most valued content services are traffic information, area incident notification, petrol station locator, parking locator, and interactive 3D data-modelled maps of complex interior spaces such as those that are available through Navteq's recently launched Destination Maps. The majority of survey respondents expressed they would use interior maps like Destination Maps at least once a week and would value ads in exchange for access to the content.
"The research shows most persuasively that real-time traffic and location-based advertising is a powerful combination. For publishers, it means they can increase the stickiness of their apps with highly valued content like Navteq Traffic, and support that content with ads that are relevant to the location experience via Navteq LocationPoint ads," said Christopher Rothey, vice president, advertising, Navteq.
The research showed:
Sixty-seven percent said they would accept ads in exchange for access to their favourite location content service. Acceptance was highest in Spain (82%) and Italy (69%)
Consumers in Europe ranked traffic as the content service they value most
The traffic information service would generate the highest frequency of use among respondents (72% would use it on a weekly basis)
Fifty-four percent expressed interest in receiving indoor location content in exchange for ads
The preferred type of advertising is discounts/vouchers, followed by merchant information
The preferred categories for Location-Based Advertising in the navigation context are parking garages and petrol stations followed by tourist information and attractions and restaurants
Methodology
The online survey sampled 1,021 cell phone navigation users, Personal Navigation Device (PND) and in-vehicle navigation users in France, Germany, Italy, Spain and the UK.
Monday, June 20, 2011
SAFE drivers could have their licence fees waived under road-safety measures being pushed by the vic State Opposition.
SAFE drivers could have their licence fees waived under road-safety measures being pushed by the vic State Opposition.
http://www.news.com.au/labor-urges-no-fees-for-good-drivers-in-road-safety-push/story-fn7x8me2-1226078097330
SAFE drivers could have their licence fees waived under road-safety measures being pushed by the State Opposition.
Labor plans to offer free licences to all drivers who have not committed an offence within a four-year probation.
The road-safety initiatives, to be unveiled by Labor today, call for more funding for regional roads and technology to combat speeding.
Opposition Leader Daniel Andrews urged the Government to consider the ideas.
Top of the list is a push to reinstate funding for the Road Safety Experience Centre - a world-first road trauma education program promised by John Brumby, but which has been scrapped by the Coalition.
"Road safety should be bipartisan and we are happy to be bipartisan about it but the Labor Party will not support doing nothing, which is what we have seen the last six months," Mr Andrews said.
Labor's plan, Below 200 By 2020 - Protecting Victorians on our Roads, calls for the immediate backing of the Road Safety Experience Centre, with those who attend given a free driving lesson and anyone convicted of serious driving offences required to attend.
Other initiatives include:
TESTING of devices that alert drivers when they are travelling too fast and keeping a record of their speed for repeat dangerous drivers.
APPOINTING a Minister for Road Safety.
DISCOUNT TAC premiums for people registering new five-star cars.
INTRODUCING a graduated licensing system for new motorcycle riders.
A TAILGATING hotline, similar to dob-in-a-hoon.
TESTS of break-in radio warning systems and cameras at level crossings to minimise the risk of train and car collisions.
INCREASING the use of speed-warning devices inside heavy vehicles.
"You have got to penalise people who do the wrong thing but you've also got to look to reward people who have done the right thing," Mr Andrews said.
"Whether it's giving people their first licence for free or whether it's about providing discounts on motor registration on TAC payments if you buy a five-star car, we've got to look at new and innovative ways."
mcarthurg@heraldsun.com.au
Read more: http://www.news.com.auhttp://www.heraldsun.com.au/news/more-news/labor-urges-no-fees-for-good-drivers-in-road-safety-push/story-fn7x8me2-1226078097330#ixzz1PlcpmddV
http://www.news.com.au/labor-urges-no-fees-for-good-drivers-in-road-safety-push/story-fn7x8me2-1226078097330
SAFE drivers could have their licence fees waived under road-safety measures being pushed by the State Opposition.
Labor plans to offer free licences to all drivers who have not committed an offence within a four-year probation.
The road-safety initiatives, to be unveiled by Labor today, call for more funding for regional roads and technology to combat speeding.
Opposition Leader Daniel Andrews urged the Government to consider the ideas.
Top of the list is a push to reinstate funding for the Road Safety Experience Centre - a world-first road trauma education program promised by John Brumby, but which has been scrapped by the Coalition.
"Road safety should be bipartisan and we are happy to be bipartisan about it but the Labor Party will not support doing nothing, which is what we have seen the last six months," Mr Andrews said.
Labor's plan, Below 200 By 2020 - Protecting Victorians on our Roads, calls for the immediate backing of the Road Safety Experience Centre, with those who attend given a free driving lesson and anyone convicted of serious driving offences required to attend.
Other initiatives include:
TESTING of devices that alert drivers when they are travelling too fast and keeping a record of their speed for repeat dangerous drivers.
APPOINTING a Minister for Road Safety.
DISCOUNT TAC premiums for people registering new five-star cars.
INTRODUCING a graduated licensing system for new motorcycle riders.
A TAILGATING hotline, similar to dob-in-a-hoon.
TESTS of break-in radio warning systems and cameras at level crossings to minimise the risk of train and car collisions.
INCREASING the use of speed-warning devices inside heavy vehicles.
"You have got to penalise people who do the wrong thing but you've also got to look to reward people who have done the right thing," Mr Andrews said.
"Whether it's giving people their first licence for free or whether it's about providing discounts on motor registration on TAC payments if you buy a five-star car, we've got to look at new and innovative ways."
mcarthurg@heraldsun.com.au
Read more: http://www.news.com.auhttp://www.heraldsun.com.au/news/more-news/labor-urges-no-fees-for-good-drivers-in-road-safety-push/story-fn7x8me2-1226078097330#ixzz1PlcpmddV
Friday, June 17, 2011
DriveWise video competition with TONGAL
http://www.vimeo.com/forums/topic:32027
Tongal 6 months ago
The Drive Wise program by Allstate is a revolutionary new way to help safe drivers save money on auto insurance. When a driver enrolls in the program, they receive a small device in the mail that plugs into their car’s dashboard. Later, the driver can check in online to see how they’re driving and track their progress toward the discount they’ll earn at their next policy renewal. When something is so revolutionary, it can be difficult to explain and that’s why Allstate is looking to you for help. By creating 60 second videos that help explain their revolutionary new Drive Wise program to website visitors, you’ll be saving people money and making our roads safer...Some would call you a hero. For many that would be enough, but even better than that are five prizes being awarded to the best videos, with the best video earning $7,500!
For more information on this project please visit: Tongal.com/DriveWise
Submissions are due January 18th.
Check out winners at http://tongal.com/project/DriveWise
Tongal 6 months ago
The Drive Wise program by Allstate is a revolutionary new way to help safe drivers save money on auto insurance. When a driver enrolls in the program, they receive a small device in the mail that plugs into their car’s dashboard. Later, the driver can check in online to see how they’re driving and track their progress toward the discount they’ll earn at their next policy renewal. When something is so revolutionary, it can be difficult to explain and that’s why Allstate is looking to you for help. By creating 60 second videos that help explain their revolutionary new Drive Wise program to website visitors, you’ll be saving people money and making our roads safer...Some would call you a hero. For many that would be enough, but even better than that are five prizes being awarded to the best videos, with the best video earning $7,500!
For more information on this project please visit: Tongal.com/DriveWise
Submissions are due January 18th.
Check out winners at http://tongal.com/project/DriveWise
As home insurance triples motor insurance is set to fall
http://www.news.com.au/home-insurance-triples-in-flood-prone-areas/story-e6frf7jo-1226075934034
Thursday, June 16, 2011
GMAC: Insurance telematics can “provide significant segmentation and pricing advantages”
GMAC: Insurance telematics can “provide significant segmentation and pricing advantages”
http://communicator.telematicsupdate.com/lz//lz.aspx?p1=05349016S1267&CC=&p=1&cID=0&cValue=1
I recently spoke with Dave Huber, Vice President of Insurance Telematics at GMAC Insurance, about how carriers with telematics-based products can become more profitable than the rest of the industry. Here's what he had to say:
What does your company/department do?
GMAC Insurance Personal Lines Group is one of the largest automobile insurers in the United States. GMAC Insurance Personal Lines Group offers property and casualty products, including personal auto, RV, motorcycle, commercial auto and more. With a nationwide network of claims professionals and a 24-hour, toll-free claims hotline available 365 days a year, GMAC Insurance provides superior claims service for its customers.
What is your role in the insurance telematics market?
As vice president of insurance telematics, my role is to develop and communicate a roadmap and implement strategies using technology to allow GMAC Insurance to stay connected with our customers and their cars. Telematics provides the platform to do just that.
How important is telematics throughout the insurance market space?
It has the potential to provide significant segmentation and pricing advantages to the early adopters. Insurance telematics might accelerate consolidation among the ‘haves’ and the ‘have-nots’ in the marketplace. And it could also bring a renewed and welcome focus on safety and safer driving.
What is needed for the large-scale success of PAYD/usage-based insurance?
Despite moving in the right direction, costs are still a barrier. Capturing enough driving data to build actuarially justified pricing models takes time and money (and patience). IP may have some carriers hesitating. Getting the word out about work-arounds and patent traps will serve as a catalyst for the industry.
Which trends will impact the industry the most in the coming years and why?
Obviously, embedded telematics could affect the economics and customer experience. I said ‘could’ because it’s not clear the OEMs are listening and creating an open platform to collect and exchange driving data. Meanwhile, the smartphone will have a role to play—mating with OBD devices, collecting and processing data, serving as the data transfer conduit, and even acting like a hand-held taxi meter and payment device.
How do you view the role of auto OEMs in the insurance telematics arena? They have a big role to play. They’ll always lag on the technology front because of lead-times, but you could imagine an OEM stepping into the safe driving and insurance discussions while facilitating those conversations with their customers.
Where do you see the insurance telematics industry heading in the next five years?
Half of the new business sold in the US in five years will voluntarily select an insurance policy whose premium is determined in some way by how, when and/or where they drive. Carriers with telematics-based products will be more profitable than the rest of the industry. Texting-and-driving will carry the same stigma as drinking-and-driving, but will have better/safer alternatives. And you’ll be able to buy your usage-based car insurance from a menu on a personalized, in-vehicle telematics platform on your new 2017 vehicle.
http://communicator.telematicsupdate.com/lz//lz.aspx?p1=05349016S1267&CC=&p=1&cID=0&cValue=1
I recently spoke with Dave Huber, Vice President of Insurance Telematics at GMAC Insurance, about how carriers with telematics-based products can become more profitable than the rest of the industry. Here's what he had to say:
What does your company/department do?
GMAC Insurance Personal Lines Group is one of the largest automobile insurers in the United States. GMAC Insurance Personal Lines Group offers property and casualty products, including personal auto, RV, motorcycle, commercial auto and more. With a nationwide network of claims professionals and a 24-hour, toll-free claims hotline available 365 days a year, GMAC Insurance provides superior claims service for its customers.
What is your role in the insurance telematics market?
As vice president of insurance telematics, my role is to develop and communicate a roadmap and implement strategies using technology to allow GMAC Insurance to stay connected with our customers and their cars. Telematics provides the platform to do just that.
How important is telematics throughout the insurance market space?
It has the potential to provide significant segmentation and pricing advantages to the early adopters. Insurance telematics might accelerate consolidation among the ‘haves’ and the ‘have-nots’ in the marketplace. And it could also bring a renewed and welcome focus on safety and safer driving.
What is needed for the large-scale success of PAYD/usage-based insurance?
Despite moving in the right direction, costs are still a barrier. Capturing enough driving data to build actuarially justified pricing models takes time and money (and patience). IP may have some carriers hesitating. Getting the word out about work-arounds and patent traps will serve as a catalyst for the industry.
Which trends will impact the industry the most in the coming years and why?
Obviously, embedded telematics could affect the economics and customer experience. I said ‘could’ because it’s not clear the OEMs are listening and creating an open platform to collect and exchange driving data. Meanwhile, the smartphone will have a role to play—mating with OBD devices, collecting and processing data, serving as the data transfer conduit, and even acting like a hand-held taxi meter and payment device.
How do you view the role of auto OEMs in the insurance telematics arena? They have a big role to play. They’ll always lag on the technology front because of lead-times, but you could imagine an OEM stepping into the safe driving and insurance discussions while facilitating those conversations with their customers.
Where do you see the insurance telematics industry heading in the next five years?
Half of the new business sold in the US in five years will voluntarily select an insurance policy whose premium is determined in some way by how, when and/or where they drive. Carriers with telematics-based products will be more profitable than the rest of the industry. Texting-and-driving will carry the same stigma as drinking-and-driving, but will have better/safer alternatives. And you’ll be able to buy your usage-based car insurance from a menu on a personalized, in-vehicle telematics platform on your new 2017 vehicle.
Wednesday, June 15, 2011
School zones and speed – a dangerous mix for kids Suncorp Insurance research
Wednesday, 27 April 2011
School zones and speed – a dangerous mix for kids
Suncorp Insurance research* has revealed almost one-in-ten Queensland drivers (9 per
cent) admit to speeding through restricted school speed zones and close to one-third (31 per
cent) admit they sometimes speed to get to work or home sooner.
“Alarmingly the research also shows that almost one-quarter of Queensland motorists (23
per cent) believe going less than 10km/h over the speed limit isn‟t really speeding.
“With almost one-third of Queensland drivers admitting they speed during the hours schools
generally start and finish and one-quarter believing exceeding the limit by anything up to 10
km/h over is not speeding - it‟s unsettling for both the driver and very dangerous for
pedestrians - especially a child pedestrian” said Suncorp Insurance Corporate Affairs
Manager, Mike Sopinski.
“With state schools returning from holidays today it‟s disturbing that a certain element of
Queensland motorists are prepared to ignore school speed zones and endanger the lives of
children who are who are still learning about road safety and what to do around cars and
busy streets.
A recent Queensland Police Service blitz on 40km/h and 50km/h zones across Brisbane and
the Gold Coast resulted in more than 3000 speeding motorists being caught by marked and
covert cameras. The cameras detected 71 vehicles out of 1000 (7 per cent) speeding
through 40km/h zones when the enforcement started in mid-December last year.
Restricted speed zones when school’s in
“Motorists need to be aware that school speed zone restrictions come back into force with
the return of school each term and are applied during the morning and afternoon of all
school days. However, some motorists over school holiday periods may forget about the
need to observe the restricted speed limits around schools.
“Motorists are also reminded that in some instances lower speed restrictions may apply all
day and that severe penalties for exceeding designated speed limits are enforced by police,”
said Mr Sopinski.
“Pedestrians are not only our largest group of road users but also our most vulnerable, as
they have no protection if they are hit by a vehicle,” said Mr Sopinski.
Just in a hurry
“More than one in ten Queensland drivers (11 per cent) admit to speeding most of the time –
and two-thirds (66 per cent) admit they speed some of the time.
“Most Queensland drivers (67 per cent) claim they are sometimes uncertain of the speed
limit because they vary so much.Page 2 of 2
“While changes in speed limits are common especially throughout metropolitan areas, the
most important thing drivers need to remember is to slow down (to 40km/h or less) when
driving through areas of high pedestrian activity, particularly school zones.
“Children are especially vulnerable in traffic – by virtue of their size they are sometimes hard
to see, and their movements can be unpredictable,” said Mr Sopinski.
Queensland School Danger times
According to the Queensland Injury Surveillance Unit (QISU), the most dangerous times for
school age child pedestrians is weekdays between 3 and 6 pm but particularly the hour
immediately after school.
Key findings from the Suncorp Insurance study on school zones and speed:
In a hurry: almost one-third (31 per cent) of Queensland drivers speed to get to work
or home sooner.
Not speeding?: almost one-quarter (23 per cent) of Queensland drivers do not
believe travelling up to 10 km/h over the limit is speeding
Ignoring school speed zones: almost one in ten drivers (9 per cent) admit to
ignoring restricted speed limits such as outside schools
Confused: most Queensland drivers (67 per cent) say they are sometimes unsure of
speed limits because „they vary so much
Their own private derby: more than one in ten Queensland drivers (11 per cent)
admit to speeding most of the time
School zones and speed – a dangerous mix for kids
Suncorp Insurance research* has revealed almost one-in-ten Queensland drivers (9 per
cent) admit to speeding through restricted school speed zones and close to one-third (31 per
cent) admit they sometimes speed to get to work or home sooner.
“Alarmingly the research also shows that almost one-quarter of Queensland motorists (23
per cent) believe going less than 10km/h over the speed limit isn‟t really speeding.
“With almost one-third of Queensland drivers admitting they speed during the hours schools
generally start and finish and one-quarter believing exceeding the limit by anything up to 10
km/h over is not speeding - it‟s unsettling for both the driver and very dangerous for
pedestrians - especially a child pedestrian” said Suncorp Insurance Corporate Affairs
Manager, Mike Sopinski.
“With state schools returning from holidays today it‟s disturbing that a certain element of
Queensland motorists are prepared to ignore school speed zones and endanger the lives of
children who are who are still learning about road safety and what to do around cars and
busy streets.
A recent Queensland Police Service blitz on 40km/h and 50km/h zones across Brisbane and
the Gold Coast resulted in more than 3000 speeding motorists being caught by marked and
covert cameras. The cameras detected 71 vehicles out of 1000 (7 per cent) speeding
through 40km/h zones when the enforcement started in mid-December last year.
Restricted speed zones when school’s in
“Motorists need to be aware that school speed zone restrictions come back into force with
the return of school each term and are applied during the morning and afternoon of all
school days. However, some motorists over school holiday periods may forget about the
need to observe the restricted speed limits around schools.
“Motorists are also reminded that in some instances lower speed restrictions may apply all
day and that severe penalties for exceeding designated speed limits are enforced by police,”
said Mr Sopinski.
“Pedestrians are not only our largest group of road users but also our most vulnerable, as
they have no protection if they are hit by a vehicle,” said Mr Sopinski.
Just in a hurry
“More than one in ten Queensland drivers (11 per cent) admit to speeding most of the time –
and two-thirds (66 per cent) admit they speed some of the time.
“Most Queensland drivers (67 per cent) claim they are sometimes uncertain of the speed
limit because they vary so much.Page 2 of 2
“While changes in speed limits are common especially throughout metropolitan areas, the
most important thing drivers need to remember is to slow down (to 40km/h or less) when
driving through areas of high pedestrian activity, particularly school zones.
“Children are especially vulnerable in traffic – by virtue of their size they are sometimes hard
to see, and their movements can be unpredictable,” said Mr Sopinski.
Queensland School Danger times
According to the Queensland Injury Surveillance Unit (QISU), the most dangerous times for
school age child pedestrians is weekdays between 3 and 6 pm but particularly the hour
immediately after school.
Key findings from the Suncorp Insurance study on school zones and speed:
In a hurry: almost one-third (31 per cent) of Queensland drivers speed to get to work
or home sooner.
Not speeding?: almost one-quarter (23 per cent) of Queensland drivers do not
believe travelling up to 10 km/h over the limit is speeding
Ignoring school speed zones: almost one in ten drivers (9 per cent) admit to
ignoring restricted speed limits such as outside schools
Confused: most Queensland drivers (67 per cent) say they are sometimes unsure of
speed limits because „they vary so much
Their own private derby: more than one in ten Queensland drivers (11 per cent)
admit to speeding most of the time
Thursday, June 9, 2011
Insurance telematics: Understanding the UK market
Insurance telematics: Understanding the UK market
http://social.telematicsupdate.com/industry-insight/insurance-telematics-understanding-uk-market
2 June 2011
Andrew Tolve reports on the growing demand for insurance telematics in the UK
When Britain’s largest insurer, Norwich Union, discontinued its “pay as you drive” policy in 2008, citing low demand from drivers and carmakers, it stalled the insurance telematics market in the UK. Some viewed it as the death knell of the fledgling sector altogether.
Instead, just three years later, the market for insurance telematics in Britain has rebounded. Young drivers are eager to cut their expensive premiums, while resistance to data tracking among older drivers has diminished. New consumer research commissioned by Towers Watson reveals that more than two-thirds of UK drivers aged over 35 would consider having a telematics monitoring device fitted in their car to save money on their insurance. Willingness to participate in a pilot scheme was higher still at 77 percent.
As a result, most major insurers are piloting pay-as-you-drive or pay-how-you-drive programs, and upstart companies have already introduced solutions to the market. “The time is right, the technology has become a lot cheaper, and there’s a lot more demand for it,” says Harald Trautsch, chief marketing officer for Octo Telematics and an adviser to Insurance-Telematics.com, a hub for industry information. (For more from Harald Trautsch, see ‘Insurance telematics: Differentiation is at the core of every value proposition’.)
Andy Walters, managing director at Quartix, agrees. This year Quartix, one the UK’s main vehicle tracking service providers for the fleet sector, responded to market demand and began supplying Coverbox with telematics units destined for consumer insurance telematics programs. “The market seems incredibly dynamic to us,” says Walters.
The youth factor
The most expensive insurance premiums in the UK belong to young men between the ages of 17 and 20, who statistically get in the most accidents and drive more recklessly than the rest of the population. Young men, dissatisfied with paying premiums between £2,000 and £4,000, have looked for creative alternatives. “These kids are not stupid,” says Trautsch. Instead of paying exorbitantly high premiums, some “register their cars under their grandparents name, so you end up with a lot of speeding grandmothers in the UK”
An easier alternative is to go to websites like GoCompare.com and Comparethemarket.com, which juxtapose quotes from various insurers and allow drivers to choose the cheapest ones. “I just renew my insurance every year, but these guys will go on the Web and change companies for a difference of 10 percent,” says Walters.
The opportunity to add a telematics box that theoretically could decrease their premium costs by upwards of 20 to 30 percent is therefore attractive. Younger generations are fluent with technology and don’t harbor inhibitions about privacy the way older generations do. “At the end of the day, this about price and that’s all,” says Walters. He discards the notion that value-added services provide additional incentive: “That’s certainly not the case in the UK. Here, young drivers are singing up because they get cheaper insurance.” (For more on value-added services, see ‘The business case for insurance telematics is there in the making’.)
The European Court of Justice recently ruled that it will be illegal to use gender as a basis for pricing insurance and pension products from December 2012. As a result, car insurance prices for women are expected to rise significantly, which will likely further drive the insurance telematics market in the UK. With this new ruling, says Walters, “You can charge someone for driving like a man, but not for being a man. And telematics can tell you if you drive like a man or a woman.” (For more on the EU ruling, see ‘Insurance telematics: What’s gender got to do with it?’.)
The key players
Two companies dominate the insurance telematics market in the UK today. The first is Coverbox, whose model lets drivers choose premiums from any of the major insurers, then offers refunds if their mileage is less than anticipated or if their driving is limited to off-peak periods. Drivers also get a personal dashboard so they can track the times and miles they drive online.
Since the launch of this pay-as-you-drive model in 2009, Coverbox has taken leadership of the UK market for telematics-based insurance, with 17,000 units already installed. Cobra and Quartix supply the majority of Coverbox’s telematics equipment; Quartix is currently installing approximately 1,000 units per month, Walters says.
Insure The Box, the second of the main players, takes a different approach by directly insuring drivers and granting them 6,000 miles worth of coverage. A telematics device called a Clear Box then tracks how many miles those drivers rack up. If they exhibit good driving behavior, they are rewarded with “reward miles”. If they run through their 6,000 miles, they can buy “top-up” miles for additional coverage.
Insure The Box has also set up innovative cross-marketing solutions to further incentivize drivers. The company’s Shopping Box offers access to leading high street retailers. For every £100 that drivers spend, they get reward miles, which can roll over from year to year. The company is growing by more than 200 clients a day. “They offer a very comprehensive solution,” says Traustch. “They’re giving you the opportunity to really prove they trust you first.”
Market evolution
Despite the prevalence of pay-as-you-drive models today, the future of insurance telematics in the UK likely rests with pay-how-you-drive solutions. Telematics equipment can now measure rates of acceleration, deceleration, harsh breaking, and active speed, thereby painting a more accurate picture of how someone actually drives and what sort of risk they present to an insurer.
Walters confides that Quartix is currently in the midst of testing pay-how-you-drive models with many of the top insurers in the UK. “It’s not obvious which [of these pilots] will turn into big opportunities and which will not,” says Walters, “but there’s no doubt that insurance companies are worried about missing out.”
Another future focus is to create databases of research that can conclusively link certain driving behaviors with specific risks of having an accident. “Currently, I can’t go to the insurance company and say, ‘If a driver breaks like that and speeds like this, there’s an X percent chance he will have an accident,’” says Walters. “Until insurance telematics has been around for a few years, no one can say the answer. Once we can, though, it’s a very powerful tool.”
Walters forecasts that five years from now most UK insurers will have a telematics solution on the market, though these solutions will work in different ways to assess driving risk. The one commonality will be that all insurers will try to leverage the devices to reward the good drivers and jettison the bad. “They want to get rid of their bad risks and make sure their good risks don’t get another quote at the end of 12 months,” says Walters. “That’s this market in a nutshell.”
Andrew Tolve is a regular contributor to TU.
For more on insurance telematics, join the sector’s other key players next week at Telematics Detroit 2011 in Novi, MI on June 8 and 9, Insurance Telematics USA 2011 on September 8-9 in Chicago, and Telematics Munich 2011 on November 9-10.
http://social.telematicsupdate.com/industry-insight/insurance-telematics-understanding-uk-market
2 June 2011
Andrew Tolve reports on the growing demand for insurance telematics in the UK
When Britain’s largest insurer, Norwich Union, discontinued its “pay as you drive” policy in 2008, citing low demand from drivers and carmakers, it stalled the insurance telematics market in the UK. Some viewed it as the death knell of the fledgling sector altogether.
Instead, just three years later, the market for insurance telematics in Britain has rebounded. Young drivers are eager to cut their expensive premiums, while resistance to data tracking among older drivers has diminished. New consumer research commissioned by Towers Watson reveals that more than two-thirds of UK drivers aged over 35 would consider having a telematics monitoring device fitted in their car to save money on their insurance. Willingness to participate in a pilot scheme was higher still at 77 percent.
As a result, most major insurers are piloting pay-as-you-drive or pay-how-you-drive programs, and upstart companies have already introduced solutions to the market. “The time is right, the technology has become a lot cheaper, and there’s a lot more demand for it,” says Harald Trautsch, chief marketing officer for Octo Telematics and an adviser to Insurance-Telematics.com, a hub for industry information. (For more from Harald Trautsch, see ‘Insurance telematics: Differentiation is at the core of every value proposition’.)
Andy Walters, managing director at Quartix, agrees. This year Quartix, one the UK’s main vehicle tracking service providers for the fleet sector, responded to market demand and began supplying Coverbox with telematics units destined for consumer insurance telematics programs. “The market seems incredibly dynamic to us,” says Walters.
The youth factor
The most expensive insurance premiums in the UK belong to young men between the ages of 17 and 20, who statistically get in the most accidents and drive more recklessly than the rest of the population. Young men, dissatisfied with paying premiums between £2,000 and £4,000, have looked for creative alternatives. “These kids are not stupid,” says Trautsch. Instead of paying exorbitantly high premiums, some “register their cars under their grandparents name, so you end up with a lot of speeding grandmothers in the UK”
An easier alternative is to go to websites like GoCompare.com and Comparethemarket.com, which juxtapose quotes from various insurers and allow drivers to choose the cheapest ones. “I just renew my insurance every year, but these guys will go on the Web and change companies for a difference of 10 percent,” says Walters.
The opportunity to add a telematics box that theoretically could decrease their premium costs by upwards of 20 to 30 percent is therefore attractive. Younger generations are fluent with technology and don’t harbor inhibitions about privacy the way older generations do. “At the end of the day, this about price and that’s all,” says Walters. He discards the notion that value-added services provide additional incentive: “That’s certainly not the case in the UK. Here, young drivers are singing up because they get cheaper insurance.” (For more on value-added services, see ‘The business case for insurance telematics is there in the making’.)
The European Court of Justice recently ruled that it will be illegal to use gender as a basis for pricing insurance and pension products from December 2012. As a result, car insurance prices for women are expected to rise significantly, which will likely further drive the insurance telematics market in the UK. With this new ruling, says Walters, “You can charge someone for driving like a man, but not for being a man. And telematics can tell you if you drive like a man or a woman.” (For more on the EU ruling, see ‘Insurance telematics: What’s gender got to do with it?’.)
The key players
Two companies dominate the insurance telematics market in the UK today. The first is Coverbox, whose model lets drivers choose premiums from any of the major insurers, then offers refunds if their mileage is less than anticipated or if their driving is limited to off-peak periods. Drivers also get a personal dashboard so they can track the times and miles they drive online.
Since the launch of this pay-as-you-drive model in 2009, Coverbox has taken leadership of the UK market for telematics-based insurance, with 17,000 units already installed. Cobra and Quartix supply the majority of Coverbox’s telematics equipment; Quartix is currently installing approximately 1,000 units per month, Walters says.
Insure The Box, the second of the main players, takes a different approach by directly insuring drivers and granting them 6,000 miles worth of coverage. A telematics device called a Clear Box then tracks how many miles those drivers rack up. If they exhibit good driving behavior, they are rewarded with “reward miles”. If they run through their 6,000 miles, they can buy “top-up” miles for additional coverage.
Insure The Box has also set up innovative cross-marketing solutions to further incentivize drivers. The company’s Shopping Box offers access to leading high street retailers. For every £100 that drivers spend, they get reward miles, which can roll over from year to year. The company is growing by more than 200 clients a day. “They offer a very comprehensive solution,” says Traustch. “They’re giving you the opportunity to really prove they trust you first.”
Market evolution
Despite the prevalence of pay-as-you-drive models today, the future of insurance telematics in the UK likely rests with pay-how-you-drive solutions. Telematics equipment can now measure rates of acceleration, deceleration, harsh breaking, and active speed, thereby painting a more accurate picture of how someone actually drives and what sort of risk they present to an insurer.
Walters confides that Quartix is currently in the midst of testing pay-how-you-drive models with many of the top insurers in the UK. “It’s not obvious which [of these pilots] will turn into big opportunities and which will not,” says Walters, “but there’s no doubt that insurance companies are worried about missing out.”
Another future focus is to create databases of research that can conclusively link certain driving behaviors with specific risks of having an accident. “Currently, I can’t go to the insurance company and say, ‘If a driver breaks like that and speeds like this, there’s an X percent chance he will have an accident,’” says Walters. “Until insurance telematics has been around for a few years, no one can say the answer. Once we can, though, it’s a very powerful tool.”
Walters forecasts that five years from now most UK insurers will have a telematics solution on the market, though these solutions will work in different ways to assess driving risk. The one commonality will be that all insurers will try to leverage the devices to reward the good drivers and jettison the bad. “They want to get rid of their bad risks and make sure their good risks don’t get another quote at the end of 12 months,” says Walters. “That’s this market in a nutshell.”
Andrew Tolve is a regular contributor to TU.
For more on insurance telematics, join the sector’s other key players next week at Telematics Detroit 2011 in Novi, MI on June 8 and 9, Insurance Telematics USA 2011 on September 8-9 in Chicago, and Telematics Munich 2011 on November 9-10.
Survey Shows Two Thirds of Australians see Value in Location-Based Advertising and Mobile Coupons
NAVTEQ Survey Shows Two Thirds of Australians see Value in Location-Based Advertising and Mobile Coupons
Jun 06, 2011
Sydney– NAVTEQ, the leading global provider of maps, traffic and location data enabling navigation, location-based services and mobile advertising around the world, revealed results of a new study indicating that consumer behavior is “going mobile” as Australians want location-based advertising delivered to their smart phones. Two thirds of Australian mobile phone users find it appealing to receive location-based offers when shopping, which presents exciting marketing opportunities to reach consumers via geo-targeted promotions.
The survey compiled by Galaxy Research*, also helped to identify the widespread consumer benefits that location-based advertising could deliver. These benefits were largely related to convenience and immediacy, as respondents were most favorable towards receiving timely offers while shopping -- without the need to search. Moreover, when asked about the types of products for which they would most like to receive location-aware ads, the survey found petrol discounts (51%) to be the most appealing, followed by meal and restaurant discounts, groceries and fast food.
“Advertising is not just going mobile, it is going local. The NAVTEQ survey shows that Australian’s are open to receiving location-based discounts and promotions in the form of display advertising on the phone, as long as they offer real and immediate value. When offers are location-targeted, they become that much more relevant for a consumer” said Kirk Mitchell, vice president of Oceania Sales, NAVTEQ.
This survey also showed GPS usage on a smart phone is on the rise with as many as 70% of those with GPS capabilities using it two to three times per month or more. Respondents indicated using GPS on their phones most commonly for directions when driving, followed by showing their location on the map, directions when walking and to identify the whereabouts of shops, restaurants or a friend’s location.
“As GPS integration on phones to continues to increase, location targeting presents an unprecedented opportunity for advertisers to target consumers when they are near a point of purchase and then route them to a merchant’s location. This level of contextual targeting transforms mobile into a direct response channel for brick and mortar merchants,” Mitchell adds.
The survey also assessed the appeal of an opt-in function, allowing a consumer to decide if and when they would want to receive ads to their phone sent by SMS. Results revealed that three quarters (75%) of mobile phone users are willing to use the function that enables geo-targeted offers, with one in three (34%) saying they would permanently leave the application switched on. A further 41% would opt-in when shopping. For the younger cohort, 83% of those aged 18-34 indicated that they would use the function, with 49% switching it on when shopping. This demonstrates an emerging trend that younger users are more inclined to accept location-aware mobile offers.
“Location based mobile services is undoubtedly seen as a key development on the horizon for the advertising industry. Location targeting enables the advertiser to meet consumers where they are at times of great relevance in the consumer experience, at the point of purchase. This type of contextual advertising offers real value to advertisers and consumers alike, which in turn leads to greater conversion and a better experience with the brand,” says Mat Baxter, CEO, Universal McCann.
Note to editors
*The Location-based advertising survey was conducted by Galaxy Research during April 2011 and included responses from 606 Australians nationally, aged 18 years and over.
About NAVTEQ
NAVTEQ is the leading global provider of location content in the form of maps, traffic and places data that enables navigation, location-based services and mobile advertising around the world. NAVTEQ supplies precise, comprehensive location content to power automotive navigation systems, portable and wireless devices, Internet-based mapping applications and government and business solutions. The Chicago-based company was founded in 1985 and has approximately 5,600 employees located in 213 offices in 50 countries.
Jun 06, 2011
Sydney– NAVTEQ, the leading global provider of maps, traffic and location data enabling navigation, location-based services and mobile advertising around the world, revealed results of a new study indicating that consumer behavior is “going mobile” as Australians want location-based advertising delivered to their smart phones. Two thirds of Australian mobile phone users find it appealing to receive location-based offers when shopping, which presents exciting marketing opportunities to reach consumers via geo-targeted promotions.
The survey compiled by Galaxy Research*, also helped to identify the widespread consumer benefits that location-based advertising could deliver. These benefits were largely related to convenience and immediacy, as respondents were most favorable towards receiving timely offers while shopping -- without the need to search. Moreover, when asked about the types of products for which they would most like to receive location-aware ads, the survey found petrol discounts (51%) to be the most appealing, followed by meal and restaurant discounts, groceries and fast food.
“Advertising is not just going mobile, it is going local. The NAVTEQ survey shows that Australian’s are open to receiving location-based discounts and promotions in the form of display advertising on the phone, as long as they offer real and immediate value. When offers are location-targeted, they become that much more relevant for a consumer” said Kirk Mitchell, vice president of Oceania Sales, NAVTEQ.
This survey also showed GPS usage on a smart phone is on the rise with as many as 70% of those with GPS capabilities using it two to three times per month or more. Respondents indicated using GPS on their phones most commonly for directions when driving, followed by showing their location on the map, directions when walking and to identify the whereabouts of shops, restaurants or a friend’s location.
“As GPS integration on phones to continues to increase, location targeting presents an unprecedented opportunity for advertisers to target consumers when they are near a point of purchase and then route them to a merchant’s location. This level of contextual targeting transforms mobile into a direct response channel for brick and mortar merchants,” Mitchell adds.
The survey also assessed the appeal of an opt-in function, allowing a consumer to decide if and when they would want to receive ads to their phone sent by SMS. Results revealed that three quarters (75%) of mobile phone users are willing to use the function that enables geo-targeted offers, with one in three (34%) saying they would permanently leave the application switched on. A further 41% would opt-in when shopping. For the younger cohort, 83% of those aged 18-34 indicated that they would use the function, with 49% switching it on when shopping. This demonstrates an emerging trend that younger users are more inclined to accept location-aware mobile offers.
“Location based mobile services is undoubtedly seen as a key development on the horizon for the advertising industry. Location targeting enables the advertiser to meet consumers where they are at times of great relevance in the consumer experience, at the point of purchase. This type of contextual advertising offers real value to advertisers and consumers alike, which in turn leads to greater conversion and a better experience with the brand,” says Mat Baxter, CEO, Universal McCann.
Note to editors
*The Location-based advertising survey was conducted by Galaxy Research during April 2011 and included responses from 606 Australians nationally, aged 18 years and over.
About NAVTEQ
NAVTEQ is the leading global provider of location content in the form of maps, traffic and places data that enables navigation, location-based services and mobile advertising around the world. NAVTEQ supplies precise, comprehensive location content to power automotive navigation systems, portable and wireless devices, Internet-based mapping applications and government and business solutions. The Chicago-based company was founded in 1985 and has approximately 5,600 employees located in 213 offices in 50 countries.
Stressed drivers take more risks
Stressed drivers take more risks
http://au.news.yahoo.com/thewest/a/-/wa/9598745/stressed-drivers-take-more-risks/
Three in five young WA drivers take risks behind the wheel when stressed, including ignoring speed limits and breaking road rules.
A survey of 500 drivers by SGIO found one-third of all drivers admitted taking risks while stressed, with men more likely to ignore road rules - 42 per cent compared with 35 per cent of women drivers.
Ninety per cent of those surveyed admitted speeding while stressed and others said they tailgated, did not merge correctly, cut off drivers or frequently switched lanes.
The survey last month also found drivers felt most stressed in the afternoon.
SGIO spokesman Rob Cory said the research revealed that stress clearly caused people to behave differently at the wheel and he urged all drivers to keep their cool.
"Stress can affect your concentration and losing focus for even one second puts you at greater risk of a collision," he said.
"We understand a lot of us lead busy lifestyles, however, a busy schedule shouldn't compromise safe driving.
"We urge all WA drivers to try and avoid getting caught up in the hustle and bustle of the traffic and focus on the road."
Mr Cory said motorists should consider carpooling to avoid driving five days a week or use public transport and adjust work hours to avoid peak-hour travel.
The results follow a major survey across Australia, released in April, that found three out of four Perth commuters became stressed and frustrated on their daily drive to and from work, with most blaming rude and aggressive drivers and stop-start traffic.
The inaugural IBM Commuter Pain study found that 28 per cent of those surveyed said the stress caused during the commute to work affected their health.
IBM Australia transport expert John Hawkins said the survey showed flexible working arrangements, including working at home or working outside normal hours, needed more consideration.
IBM global business services partner Matt English told a Committee for Economic Development of Australia lunch, Inventing the Future - the Future of Mobility, yesterday that new technologies had opened the way for more flexible workplaces that could benefit employees and employers.
He said today's workplace could be anywhere and anytime, which had repercussions for business and commuting.
http://au.news.yahoo.com/thewest/a/-/wa/9598745/stressed-drivers-take-more-risks/
Three in five young WA drivers take risks behind the wheel when stressed, including ignoring speed limits and breaking road rules.
A survey of 500 drivers by SGIO found one-third of all drivers admitted taking risks while stressed, with men more likely to ignore road rules - 42 per cent compared with 35 per cent of women drivers.
Ninety per cent of those surveyed admitted speeding while stressed and others said they tailgated, did not merge correctly, cut off drivers or frequently switched lanes.
The survey last month also found drivers felt most stressed in the afternoon.
SGIO spokesman Rob Cory said the research revealed that stress clearly caused people to behave differently at the wheel and he urged all drivers to keep their cool.
"Stress can affect your concentration and losing focus for even one second puts you at greater risk of a collision," he said.
"We understand a lot of us lead busy lifestyles, however, a busy schedule shouldn't compromise safe driving.
"We urge all WA drivers to try and avoid getting caught up in the hustle and bustle of the traffic and focus on the road."
Mr Cory said motorists should consider carpooling to avoid driving five days a week or use public transport and adjust work hours to avoid peak-hour travel.
The results follow a major survey across Australia, released in April, that found three out of four Perth commuters became stressed and frustrated on their daily drive to and from work, with most blaming rude and aggressive drivers and stop-start traffic.
The inaugural IBM Commuter Pain study found that 28 per cent of those surveyed said the stress caused during the commute to work affected their health.
IBM Australia transport expert John Hawkins said the survey showed flexible working arrangements, including working at home or working outside normal hours, needed more consideration.
IBM global business services partner Matt English told a Committee for Economic Development of Australia lunch, Inventing the Future - the Future of Mobility, yesterday that new technologies had opened the way for more flexible workplaces that could benefit employees and employers.
He said today's workplace could be anywhere and anytime, which had repercussions for business and commuting.
6-easy-ways-to-start-cutting-oil-consumption-now
http://www.greenbang.com/6-easy-ways-to-start-cutting-oil-consumption-now_18310.html
What is it about oil that makes us so conflicted? Oh yeah … the love-hate thing.
A line from the movie “Fight Club” sums it up: “You love me, you hate me. You show me a sensitive side, then you turn into a total a..hole. Is this a pretty accurate description of our relationship?”
Nowhere is that description more apt than in the US, where happy motoring is built into the DNA but griping about prices at the pump and OPEC nations is a way of life. With crude oil now in the triple-digit price range and predictions of $150-per-barrel costs in the coming year, though, the car culture as we know it is long overdue for a makeover.
But how do you make transportation less oil-dependent at a time when austerity-minded governments are unlikely to shell out the billions upon billions that would be needed for high-speed trains and municipal subways? Here are six solutions that could help with little to moderate investment required:
Pay-as-you-drive insurance. Also known as usage-based insurance, these types of policies encourage car-owners to drive less by basing insurance fees on mileage. The approach has been found to reduce the number of accidents. If implemented widely, it could also make a significant dent on both traffic congestion and gas consumption.
Telecommuting. Too many businesses remain wedded to the idea that all employees must be in the company building for x number of hours a day to really be working. With email, Skype chat, teleconferencing and so many online tools now easily available, there’s no reason many more people couldn’t work from home at least part time. And every not not spent commuting saves time, wear-and-tear on both roads and vehicles, gas and money.
Car sharing or car clubs. ZipCar and similar businesses offer people a way to drive when they need to … without having to actually own a car. A sort-of short-term, ad hoc car rental service, car sharing itself doesn’t necessarily reduce gas consumption but certainly reduces the “hop-in-the-car-and-drive-anywhere-anytime” mentality. It also makes it easier for people to upgrade to a more fuel-efficient vehicle than they might be able to afford on their own.
Bus rapid transit. Faster than a standard bus service and cheaper (and faster) to implement than light rail, bus rapid transit (BRT) typically uses dedicated traffic lanes to transport commuters from stop to stop. The Brazilian city of Curitiba’s RIT bus system is widely held as the inspiration for numerous similar services around the world.
Congestion pricing. Already in place in cities such as London and Stockholm, congestion pricing schemes charge motorists increased fees for driving into busy areas during times of high traffic. When congestion is lower, fees also drop. “(A) small decrease in the number of vehicles on the road can lead to a large decrease in roadway congestion,” states “Freedom from Oil: How Transportation Choices Can Provide Gas Price Relief,” a report from the US Congressional Democratic Caucus’ Livable Communities Task Force. “In 2008, the 3 percent reduction in cars on the road due to rising gas prices led to a 30% drop in the peak hour roadway congestion across the nation. At 3.9 billion gallons and $114.8 billion wasted per year in congestion, even small reductions would add up to significant savings.”
Vanpools. The Livable Communities Task Force recommends government incentives to encourage businesses to adopt van pools and other efficient commuting programs. “Vanpools help commuters save time spent in traffic, reduce their gasoline and parking costs, and see significant help benefits due to reduced stress and pressure,” the “Freedom from Oil” report states. Plus, they’re cost-effective and relatively easy to implement.
What is it about oil that makes us so conflicted? Oh yeah … the love-hate thing.
A line from the movie “Fight Club” sums it up: “You love me, you hate me. You show me a sensitive side, then you turn into a total a..hole. Is this a pretty accurate description of our relationship?”
Nowhere is that description more apt than in the US, where happy motoring is built into the DNA but griping about prices at the pump and OPEC nations is a way of life. With crude oil now in the triple-digit price range and predictions of $150-per-barrel costs in the coming year, though, the car culture as we know it is long overdue for a makeover.
But how do you make transportation less oil-dependent at a time when austerity-minded governments are unlikely to shell out the billions upon billions that would be needed for high-speed trains and municipal subways? Here are six solutions that could help with little to moderate investment required:
Pay-as-you-drive insurance. Also known as usage-based insurance, these types of policies encourage car-owners to drive less by basing insurance fees on mileage. The approach has been found to reduce the number of accidents. If implemented widely, it could also make a significant dent on both traffic congestion and gas consumption.
Telecommuting. Too many businesses remain wedded to the idea that all employees must be in the company building for x number of hours a day to really be working. With email, Skype chat, teleconferencing and so many online tools now easily available, there’s no reason many more people couldn’t work from home at least part time. And every not not spent commuting saves time, wear-and-tear on both roads and vehicles, gas and money.
Car sharing or car clubs. ZipCar and similar businesses offer people a way to drive when they need to … without having to actually own a car. A sort-of short-term, ad hoc car rental service, car sharing itself doesn’t necessarily reduce gas consumption but certainly reduces the “hop-in-the-car-and-drive-anywhere-anytime” mentality. It also makes it easier for people to upgrade to a more fuel-efficient vehicle than they might be able to afford on their own.
Bus rapid transit. Faster than a standard bus service and cheaper (and faster) to implement than light rail, bus rapid transit (BRT) typically uses dedicated traffic lanes to transport commuters from stop to stop. The Brazilian city of Curitiba’s RIT bus system is widely held as the inspiration for numerous similar services around the world.
Congestion pricing. Already in place in cities such as London and Stockholm, congestion pricing schemes charge motorists increased fees for driving into busy areas during times of high traffic. When congestion is lower, fees also drop. “(A) small decrease in the number of vehicles on the road can lead to a large decrease in roadway congestion,” states “Freedom from Oil: How Transportation Choices Can Provide Gas Price Relief,” a report from the US Congressional Democratic Caucus’ Livable Communities Task Force. “In 2008, the 3 percent reduction in cars on the road due to rising gas prices led to a 30% drop in the peak hour roadway congestion across the nation. At 3.9 billion gallons and $114.8 billion wasted per year in congestion, even small reductions would add up to significant savings.”
Vanpools. The Livable Communities Task Force recommends government incentives to encourage businesses to adopt van pools and other efficient commuting programs. “Vanpools help commuters save time spent in traffic, reduce their gasoline and parking costs, and see significant help benefits due to reduced stress and pressure,” the “Freedom from Oil” report states. Plus, they’re cost-effective and relatively easy to implement.
Saturday, June 4, 2011
Wayne Gardiner's safety warnings
Wayne Gardiner's safety warnings
http://www.2ue.com.au/blogs/2ue-blog/wayne-gardiners-safety-warnings/20110603-1fjgq.html
http://www.2ue.com.au/blogs/2ue-blog/wayne-gardiners-safety-warnings/20110603-1fjgq.html
Wednesday, June 1, 2011
USA forums show questions concerns and myths re UBI that need addressing
http://forum.ih8mud.com/chit-chat-section/487413-progressive-snapshot-would-you-2.html
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