The Insurance Telematics Industry is on the Cusp of a Revolution

http://www.prweb.com/releases/2011/5/prweb8414965.htm
(PRWEB) May 13, 2011
The Insurance Telematics Industry is on the Cusp of a Revolution,



According to a new report from FC Business Intelligence, the market is projected to expand rapidly from $50 million in sales of UBI devices in 2011 to approx. $2.6 billion by 2015.
There are already several companies leading the charge towards mass – market telematics: Progressive’s Snapshot(SM) has been approved in 32 states, GMAC’s Mileage Discount is available in 35 states and Allstate are aspiring to live up to their name.
Furthermore, the majority of other major insurers are running extensive pilot schemes. The court cases are still rumbling on, but now many states are actively encouraging Usage Based Insurance (UBI) policies and legislative barriers are finally beginning to fall.
Is Your Company Ready to Join the Revolution?
There are numerous challenges currently facing the industry, including IP and litigation issues, consumer acceptance, privacy concerns and the creation of a viable business model, but these are vastly outweighed by the ever-growing number of opportunities and the size of the potential rewards.
To address these critical challenges and drive industry growth, the pioneers and leaders of the sector, including:
Robin Harbage (Towers Watson), Dave Huber (GMAC), Steven Armstrong (Allstate), Steven Fernandes (The Hartford), Partha Goswami (General Motors), Chris Carver (Libertry Mutual) and Harald Trautsch (Octo Telematics), are coming together in Chicago on September 8 – 9th at the Insurance Telematics USA Conference & Expo.
These experts will address key industry challenges, such as:
Building strategic partnerships
IP & litigation issues
Data management & analysis
The impact of Federal & State regulations
Succeeding within the commercial insurance space
Boosting consumer acceptance of UBI
Smartphone & apps integration
Exploiting new revenue streams within the emerging ecosystem
And much, much more.
"THE telematics event of the year for those interested in the insurance telematics marketplace - both for insurers and their suppliers.”
Fred Blumer - Hughes Telematics
Last year’s show was a complete sell-out. Over 300 senior level industry leaders attended and 86% of them said that they would recommend the show to a friend or colleague. Alex Laurie, Consulting Actuary at Towers Watson, said the event is “critical for players in this space."
For the complete Insurance Telematics USA 2011 conference program and speaker line-up, access the e-brochure at http://www.telematicsupdate.com/insurance-telematics/download-brochure.shtml, or contact the Telematics Update team at: insurance(at)telematicsupdate(dot)com.
Register via the secure link: https://secure.telematicsupdate.com/insurance-telematics/register.shtml
Telematics Update conferences are the most prestigious in the industry. We produce the largest telematics events in North America, Europe & Asia, and attract the most influential speakers, providing a rich environment for establishing strategic relationships and networking.
Contact:
Ben Gill
Conference Director | Telematics Update
T: +44 20 7375 7585 (Global) / 1 800 814 3459 ext 7585 (USA Toll Free)
E: bgill(at)telematicsupdate(dot)com
W: http://www.insurancetelematicsusa.com
###