On 8th-9th September the industry’s thought leaders; including PwC, Allstate Insurance Company, Numerex and Octo Telematics, gathered at Insurance Telematics USA 2011 focused Conference & Expo, Chicago, USA.
The conference marked a progressively more lucrative insurance telematics market for automakers, insurers and suppliers. Oren Steinberg, VP of Business Development at Sensomatix notes the distinct change in the Industry.
“Technology is evolving a new generation of insurance products that make economic sense. Viable business models will emerge based on these new capabilities.”
David MacNamara, ex multi-media and infotainment manager at Ford, exemplifies how the Industry is changing. “We can expect the insurers and Vehicle OEMs to cooperate to bring UBI to about 30-50% of all vehicles between 2015 and 2020.”
There is a huge demand for business intelligence on the strategies of car manufacturers and insurance companies from those who wish to capitalise on the new opportunities presented by concepts such as UBI.
Telematics Update’s new report titled Smart Vehicle Technology: The Future for Insurance Telematics covers the challenges facing the insurance telematics industry with graphs, statistics and extensive analysis.
The comprehensive report offers case studies from key insurance telematics pilots and programs including General Motors, OnStar 77 and Hyundai facilitating the development of winning insurance telematics business models.
Telematics based usage-based insurance [UBI] strategies from major insurers apprise the evolving market. The complex legislative landscape has been scrutinised to combat security issues and customer acceptance all of which can unlock mass market penetration for tier1 and 2 companies.
For more information visit http://www.telematicsupdate.com/insurance-report/index.shtml , contact charlotte wright on +4402073757517/ 1 8008143459 ext. 7517 or email cwright@telematicsupdate.com.
Telematics Update is the reference point for automotive telematics, mobile and web industries and a cornerstone for communications within the industry. We aim to provide you with industry focused news, events, reports, updates and information. Working with you, Telematics Update aims to be the hub of the automotive, mobile & web community enabling dialogue throughout the industry and driving telematics forward. We want you involved – it’s your industry after all – please get in touch if you think we can do even more.
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