Focused Conference and Exhibition Insurance Telematics USA 2015 2-3 September at the Radisson Aqua Blu, Chicago

Streamlined Claims and Product Diversification Puts the Consumer at the Centre of UBI Development

We have independently researched the topics that feature on the agenda the for 2015. Take a look at the hottest topics to affect UBI business. 

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

KEYNOTES

Tech Giants, the Automakers & Insuring the Future

With new OEM/insurer partnerships and tech. giants entering the ecosystem, the landscape of UBI is rapidly changing. Here we explore the ripples that are set to become big waves for UBI sailing into the future.

  • Understand how the demands of data management changes when you look at a multi-device UBI program. Can devices be data interoperable across mobile app, dongle and OEM embedded solution?
  • Overcoming legacy. Develop change management strategies with a systematic diagnosis of the current motor insurance business to determine both the need for change and the capability to change for UBI
  • Get to grips with shifting landscape of UBI when large tech. giants utilize their wealth of consumer data from search to mobile platforms as they align themselves to offer proprietary insurance services

Robin Harbage, Director, Towers Watson

Plotting the Course of UBI in 2015 and Beyond

It’s a pivotal time in UBI. Insurers need to stay on the right course in preparation for the changes to come. Take an in depth look at the route that led us to where we are today and where it will lead in the future.

  • Utilize a global perspective for innovative product development. Understand what best practice means across six continents to include UK, Chinese, Australian, South African and Brazilian UBI markets
  • Hear exclusive analysis on studies conducted from 2010 to 2015 to identify trending consumer & small fleet manager sentiments plus the demand for UBI to build a picture of the future
  • Premium discounts aren’t the main driver for UBI adoption in certain markets. Can the US adopt a similar model? Explore the unique situation in Australia and Suncorp’s VAS approach to drive UBI uptake

Paul Stacy, R&D Director, Lexis Nexis

An Evolution in UBI Data Collection

As automakers and the likes of Google and Apple enter the connected car market, insurers will have a new range of various data sources to work from, leading to a tipping point of adoption that few are ready for.

  • Understand how insurers must re-align their UBI algorithms to make them interoperable across varied data sources from dongle to vehicle embedded to instill a market ready for UBI
  • Assess the risk-benefit ratio for automakers to open the CAN bus to 3rd parties to develop a business model that tips in the favor of 'benefit' to extract more accurate data for UBI pricing
  • The credit score comparison - Take a look at the filtering and validation processes that need to be in place to identify valuable and high quality data streams that demonstrate a true correlation to risk

Nikola Ristivojevich, IT & Strategic Analyst, Ford Motor Company
Paul Stacy,R&D Director, Lexis Nexis
David Pratt, General Manager - Usage Based Insurance, Progressive

UBI from an Executive View Point (C-SUITE PANEL)

As the boardrooms of insurers become alive to the opportunities presented by telematics, we bring the leaders of integral industry players to discuss the here and now of UBI, with one eye on the future. 

  • Create services to enhance the user experience and ease of life. Develop the bridge between motor insurance and other lines (e.g. connected home) whilst asking what this means to the customer
  • Insuring the future. How do we see the role of the connected car playing out as urban areas grow in population? Can UBI serve as the basis for new mobility services and coverage to ease this congestion?
  • Explore the shifting value chain in motor insurance. As an insurer, re-think your role in the ecosystem as the automotive industry experiments with the capabilities of connected cars

Jonathan Hewett, CMO, Octo Telematics
More Executive Speakers TBA (For updates head to www.tu-auto.com/insurance-telematics/conference-agenda.php)

Smartphones and UBI - It’s a Big Call

The evolution of UBI has coincided with the rapid development of smartphone technology. Here we explore the full data collection capabilities of the most popular and advanced consumer devices in the world.

  • Eliminate ‘noisy data’ by identifying the corrupt data patterns generated by the smartphone to recognize when an insured is a car passenger or on public transport etc. to guarantee accurate driver profiling
  • Explore how mobile crash notification and the filing of claims can operate through mobile apps to accelerate the claims process and improve customer satisfaction
  • Keep them coming back for more. How do you measure the most successful methods in creating customer stickiness through digital driving support mechanisms - via the web, box or smartphone app?

Bill Mullaney, Co-Founder,D-rive powered by Deloitte 

Smartphone UBI - A Smart Call for Insurers

Over the past few years, UBI has shifted from an idea to reality. While early programs have relied on dongle-based solutions, smartphone-based UBI programs have become a reality.

  • Understand why consumer demand favors smartphone UBI solutions that integrate seamlessly with their mobile lifestyle and deliver the insights only smartphone-based programs can provide
  • Explore the economics and benefits of a smartphone UBI program - some of which are historically unprecedented - and the cost of waiting to select a program
  • Deloitte Case Study: Hear an analysis of a smartphone UBI program launch with a leading insurer and the parameters that define success at the early stages of deployment

In the UBI of the Consumer

UBI as a mainstream offering is still met with a variety of pre-conceptions and misunderstanding. Hear an analysis of global consumer studies over a three year period to see what has changed and what hasn’t.

  • Gain a competitive advantage. How can data on the experience of UBI from target groups of customers, shape product development, pricing and the customer service offering?
  • Who, if anyone truly knows about device options, expected savings and functionality? Assess the level of understanding separate demographics have of UBI to re-align marketing efforts
  • Identify the services consumers expect from UBI e.g. SVR, fuel economy, vehicle location etc. to ensure the perfect suite of services for increased customer satisfaction and brand reputation

Roosevelt Mosley, Principal, Pinnacle Actuarial Resources, Inc.

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

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TRACK 1: DATA DECISIONS & UBI

Data Transferability: The Egg Carton for the Eggs

As more insurers look to develop UBI products we debate the need for data transferability standards. Could this present a cost reduction and entry to market or an undertaking too much for new UBI providers?

  • How valuable is the info behind the data? Explore the UBI metadata (VIN, vehicle, device, data collection timeframes etc.) and how this contributes to the development of calculating risk and driver profiling 
  • Understand how to transmit telematics data - odometer, location, speed - in a flexible format that allows for interoperability between TSPs and carrier and minimizes costs for data exchanges
  • How flexible can a standard be? Explore the data sets that are mandatory within the current framework and how these can change once a business relationship is established to ease data transfer costs

James Bielak, Program Manager, Property & Casualty Program, Acord
Moderator:
David McNamara, President, MTS LLC

The Clearing House for UBI

As insurers raise the volume of data they are looking to work with we look at the affects a data clearinghouse can have on the UBI market and the industry stakeholders.

  • Creating a virtual market place for UBI data. How does traditional underwriting change when insurers go through a clearinghouse to purchase driver score data (and the optional underlying data)?
  • Protecting the privacy of the consumer. If insurers can dynamically and anonymously access driver information will this discourage extensive storage of detailed driving data on their networks?
  • Does the clearing house qualify as a common pool resource (CPR) to industry? How quickly will the benefits diminish if larger insurers move to corner the market?

Chris Carver, President, ATG Risk Solutions
Nikola Ristivojevich, IT & Strategic Analyst, Ford Motor Company

Data Investments & ROI

More data enables better understanding of policy holders, driver behavior, consumer trends and more. But at what point does holding that raw data begin to become a waste of money?

  • How can you measure the cost of an up to the minute picture of the driving environment (high frequency transfers) against obtaining the context you need for the whole picture (high volume of data sets)?
  • The cost of developing multivariate rating models. How long can raw and processed data be stored before passing the tipping point of ROI?
  • Explore the emergence of cheaper solutions with less advanced means of data collection i.e. odometer & mileage based models, to Carfax based offerings to know where telematics measures up in the market

Dave Huber, President, Kairos Solutions

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

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TRACK 2: THE CONSUMER AT THE HEART OF UBI

UBI Customer Acquisition

As UBI programs develop the industry needs to explore the methods to simplify customer acquisition through digital touch points and identify existing customers that are ready for adoption.

  • Develop intelligent methods of UBI customer identification based on traditional proxies such as age and location to drive UBI policy numbers from an existing book of customers and reduce your loss ratios
  • Honing in on digital touch points. Integrate new calls to action for customers requesting digital enrolment so they can endorse a UBI product on their policy with a self-service system
  • Streamline a UBI policy launch by incorporating the legal process into the sales process - Gain customer acceptance of T&Cs through a self-service offering which enables immediate activation of the policy

Brian Pignone, MD Product Manager, The Hartford
John Kramer, Director - Business Development, Octo Telematics

Telematics and the Scales of Justice

Legal issues and indemnity - How do you safeguard your customers if they are subject to a subpoena?

  • The landscape for UBI customers and their right to anonymity. How do you assure customers that UBI data won’t be used by third parties despite recent court cases of that exact situation?
  • UBI data as part of the deposition. Understand how telematics data and in particular UBI smartphone data is now admissible as evidence so you can take measures to increase customer privacy
  • Avoid re-igniting data privacy concerns and stifling small and medium sized insurers in favor of mobile app entry to market by implementing data security procedures, protocols and polices to protect data

Gail Gottehrer, Partner, Axinn, Veltrop & Harkrider LLP
Moderator:
Scott McCormick, President,CVTA

Driver Profiling - One Size Fits All?

Where insurers have developed innovative and in-house methods to calculate the risk of driver profiles they have also created a market of locked-in customers. Could standardized driver profiling solve this problem?

  • Driving a UBI market. Can a ubiquitous driving score alleviate the stress on resources (operational issues, infrastructure and IT investments) enough to bring smaller insurers to market?
  • Discuss the merits of a proprietary rating model that can be applied to a standardized driver score to enable UBI’s original investors maintain a fair advantage over the rest of the market
  • Identify the roadblocks that currently stand in the way of ubiquitous driver profiling i.e. lack of historical data and contextualization, so you can help create a market with a less adverse choice for consumers

Steven Bojan, Vice President - Fleet Risk Services, Risk Services Division, Hub International Limited

WORKSHOP

IMS: Exclusive UBI Case Study

Explore the advanced UBI capabilities that will drive UBI policy adoption rates and analyze the results of live pilots to gain the business insights to drive profitability - from lead generation and customer engagement to loss ratios and customer retention.

Christopher Dell, Director Product Management, IMS (for e.g.)
Other Speakers TBC

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

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TRACK 3: CLAIMS & TELEMATICS

Data Aggregation and Claims Efficiency

Telematics has the potential to redefine the claims process and the customer relationship at this delicate point of the policy. Look at how claims reporting can be streamlined by aggregating telematics data.

  • Tie in big data to get added insights and extra contextual information re. the condition of the vehicle and the severity of the accident to offer a heightened level of service for the safety of the customer
  • Utilize the TSP to minimize costs. Explore the data sets that can be used e.g. front, side and rear registered G-force to detect fraudulent claims in the 'golden hour' after a collision
  • Who’s fault? No one’s fault: Get a picture of the claims figures relating to admittance of negligence from FNOL to post FNOL, intervention rates and their costs increments

Tom Kavanaugh, Partner, PWC

Claims & Accident Management

Discuss the value of integrating telematics into the claims process with a specific focus on events that take place after a car accident.

  • Streamline the claims process by ensuring quickly accessible and easily interpreted UBI data that distinguishes minor incidents from crashes using direction of force, damage description and severity
  • Tell-tale telematics. Understand how telematics can increase the speed and accuracy of reporting while mapping the accident and areas of damage to the vehicle
  • Next gen. FNOL. How can telematics streamline the involvement of road side assistance, emergency services, rental cars and repair shops to reduce soft leakage and improve the customer journey?

Nino Tarantino, CEO, Octo Telematics
Moderator:
Frederic Bruneteau, Managing Director, Ptolemus Consulting

Data Quality for Claims & Fraud Detection

For premium calculation, the quality of UBI data is essential. For telematics data to be used for claims, there needs to be an added level of scrutiny.

  • Explore the driving metrics (location, speed, time of day etc.) that need to be targeted to provide sufficient data for a substantiated motor claim and satisfactory loss ratios
  • To what extent does data quality assurance testing (filtering & validation) need to be carried out in order to provide guaranteed claims support when using UBI data to investigate incidents?
  • Consider the device specs that will affect data quality e.g. frequency of data collection and sensor performance validation to ensure confidence limits for key incident parameters

Brian T. Casey, Partner | Co-Chair of Regulatory & Transactional Insurance Practice Group, Locke Lorde

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

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TRACK 4: THE CONNECTED CAR DISRUPTER

The Transition to Autonomous

Autonomous vehicles may still be over a decade away. Here we explore the transitioning that insurers must face to ensure their role in the era of the driverless car.

  • Autonomous features in the vehicle (e.g. adaptive cruise control, lane-keeping and traffic jam assist) will have an impact on the underwriting of new cars. How will the risk of these maneuvers be calculated?
  • Finding new means to calculate risk. Discuss how patterns of crash frequency and severity that insurers use to predict risk will be affected as vehicles become safer and more intelligent
  • Assess how safety dependent hardware such as infrared sensors (FIR), 3D range cameras and harmonic radar will contribute to fluctuating premiums as insurers try to balance cost vs. risk

Christopher Parker, Assistant Vice President - Product Underwriting, Zurich

Plugging the Legal Gaps in New Modes of Mobility

As new models of mobility emerge regulation will need to be developed to cover every aspect of an individual’s journey (e.g. UBER’s 3 stage approach). Address the discrepancies in regulatory landscape today.

  • Develop telematics or connected car solutions to deal with the risk at each journey stage. Explore the challenges that regulators have in plugging insurance gaps so you can aid the development of solutions
  • Aligning development lifecycles of tech. and regulation. How do you reformulate around new law with UBI technology development in sync?
  • Car sharing is in a grey area as commercial lines mimics the personal. How can you create a UBI policy for multiple drivers on one vehicle (fractional ownership)?

Ray Yang, Senior Director, Liberty Mutual
Robert Passmore, Assistant Vice President, Personal Lines Policy, PCIAA

Mobility and the Sharing Economy

The connected car is changing the face of mobility. Here we assess the role of the insurer, automaker and TSP as new methods of transportation become widespread.

  • Weigh-up the differing needs of aging populations and the millennial generation in terms of vehicle ownership to identify how to tie insurance into mobility services
  • Get to grips with emerging mobility models such as car sharing and ridesharing and how to factor these into a UBI policy to capitalize on a growing phenomenon in the nation’s most densely populated regions
  • Move beyond UBI apps to mobility apps. Can UBI be integrated into automaker lead intermodal service platforms that integrate personal, public and shared transportation methods?

Tracy Parks, Connectivity Alliance Manager, Ford Motor Company
Sandeep Puri, Director - Business Integration, Sales & Strategy, Deloitte

Where do the OEMs Fit?

In Europe there have been multiple examples of the direct insurer/OEM relationship. In the US, Progressive and GM have followed suit. What lies ahead for the developing relationship of the OEMs in UBI?

  • Working with the OEM. How can features of embedded solutions e.g. ability to reduce warranty costs through OTA updates be factored in to contribute the accurate pricing of the vehicle and driver?
  • The automotive dealer. In Europe you have automakers offering UBI packages in the dealership. Can the same model be rolled-out across North America?
  • Understand the benefits of an integrated UBI offering to the OEM (e.g. ancillary services, repair & maintenance and heightened CRM) to build a compelling case for partnership and mutual collaboration

Lawrence Karp, Insurance Telematics Practice Lead, Accenture
Derek Brigham, Business Development Manager, American Family Mutual Insurance Company

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

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TRACK 5: BUSINESS MODELS & TECH. INNOVATIONS

The Device Battle Rages On

OEM embedded solutions may be the future of UBI but here we investigate the devices that will take us through to tomorrow and bring about mass adoption of insurance telematics.

  • Data for throttle position, steering angle, G-forces & air-fuel ratio (AFR) can all be made accessible with the OBDII/app approach. What is the value of this information to the insurers when underwriting?
  • GPS, magnetometers, proximity sensors & ambient light sensors. Investigate the smartphone as a fully-fledged UBI device utilizing a self-selected audience (app downloads) that moves past a UBI entry route
  • Facilitate actionable vehicle data to offer extras such as tow alerts, automated-trip reporting, smart parking & petrol services to increase the appeal of UBI services to consumers

Robert Gruszczynski, OBD Communication Expert, Volkswagen Group of America

Marrying Insurance and Fleet Data

Insurers and fleet managers are sitting on a plethora of data that can be contributed to calculating risk.

Discuss how we can bring this data together for the benefit of the TSP, fleet customer and the insurer.

  • Adjust commercial telematics solutions as safety becomes the main driver for UBI adoption ahead of fuel savings. How can you leverage the synergy of safety and insurance premiums to drive sales?
  • Shaking off Compliance Safety and Accountability (CSA) scores. How do you create a virtual fleet by utilizing a telematics clearinghouse for a more dynamic and up to the minute fleet safety rating?
  • Produce actionable intelligence. Deliver telemetry that can be utilized to educate drivers and improve their driving behavior to positively impact underwriting and risk assessment of fleets

Speaker TBA

IoT - The New Ecosystem for UBI

The IoT is redefining M2M business. A new ecosystem has emerged to offer data sets that can transform the way UBI is conducted. Take a look at the here and now whilst keeping one eye on the future of IoT and UBI.

  • Re-engineer your business to prepare for IoT. Identify the threats posed to your business processes by IoT so you can efficiently manage change and capitalize on new opportunities
  • The IoT ecosystem. Build relationships from wireless carriers to data crunchers, content providers, and utilize local solution providers to make your offerings transferable across multiple markets
  • From smart cities to the connected home. Begin the journey to discover the hot applications that will give rise to a whole new breed of insurance telematics adopters

Andrew Little, Lead QA Engineer, The Weather Company
Kim Minor, Global Insurance Leader - Data & Analytics Marketing, IBM
Raco Wireless - Speaker TBA

Demonstrating ROI Behind UBI

The speed of UBI adoption is increasing but pressure mounts on program leaders to demonstrate ROI and maintain the assurance of the board to gain further investments.

  • Adapt to the shifting value chain as wireless carriers aim to accelerate the speed to market with straight to consumer UBI products through proprietary offerings
  • How do you demonstrate that UBI equals customer retention, attraction of safer drivers and higher customer acquisition through third party data streams to maintain assurance of partners and investors?
  • Assess how data on the experience of UBI from target groups of customers, shape product development, pricing and the customer service offering for a more forward thinking means of returns

Carl H. Smith Jr., Director - Product Management, MAPFRE

Jump to:
Keynotes | Track 1: Data Decisions & UBI Models | Track 2: The Consumer at the Heart of UBI
Track 3: Claims & Telematics | Track 4: The Connected Car Disruptor
Track 5: Business Models & Tech Innovations

Back to Top

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