Advanced Analytics Report: Table of Content


Section 1: THE FUNDAMENTALS OF THE UBI MARKET

cia-cover-free-abstract-250

Back to the main page

Why are many insurance markets not profitable

A maturing business in the most advanced markets

Increasing churn

Changing claims costs

The advent of online distribution

The impact of new technologies on the insurance sector

Big data analytics

Broadband connectivity to the car

Connected navigation / infotainment

Smartphonisation

Active & passive safety & V2X

Autonomous vehicles

Can telematics solve the motor insurance woes?

A European perspective on insurance telematics

The North American market’s ever growing demand for UBI

So who is UBI for?

The young market

The middle market

The senior driver segment

Some of the challenges ahead

 

Section 2: MAKING ADVANCED ANALYTICS WORK FOR UBI

How advanced analytics will change UBI

Telematics data is the difference between UBI and traditional insurance practice

The 4 pillars of UBI analytics

Making sense of driving data

How does an analytics machine work?

A large amount of highly diverse data

The funnel-shaped process that telematics data has to go through

The aim of the analytics machine is to provide answers to 4 questions

There are six steps to process telematics data before applying analytics to it

UBI requires a clear data collection strategy in terms of what to collect and how to collect it

You need to set a stage to leverage telematics data

Data filtering and Data Mining strategies

Enriching the data to understand driving behaviour

Define your archiving strategy from the start

Exploiting data by using the power of analytics

How to become a telematics analytics powerhouse

Understand the advanced analytics market landscape

Recommendations and best practices in analytics

What data collection solution to use?

Which analytics services are commonly in demand?

What scoring parameter are most commonly used?

What are the possible data components of your scores?

Who are the most advanced analytics companies?

How analytics providers are positioned in terms of offering UBI specific solutions?

Profiles of the key solution providers

 

Section 3: PUT TELEMATICS AT THE CENTRE OF YOUR CLAIMS PROCESS

Factors affecting the motor line loss ratio

General trends

Trends in accidents and casualties

The evolution of fraud in motor insurance

The end of Personal Injury (PI) referral fees?

Acceptance and geographies

The “new car” evolution

The effect of telematics on claims today

The 3 ground rules

Before the accident: predictive modelling

FNOL detection and reporting

After: reconstruction and claims services

Accident management and services

How telematics reduces the cost of claims management

Fast and automatic First Notification Of Loss (FNOL) saves lives

It also saves money

Avoid litigation

Benefit from accident reconstruction

Effective claims handling is also a marketing tool

The case for telematics in the claims workflow

Why not all claims managers are using telematics data yet

Data requirements from the claims departments

Yet there are numerous examples proving actual claims reductions

Integrating telematics into the claims process

The necessary steps required to use telematics in claims

Getting the right information

Partners and the changing value chain

Choosing the technical solution

Finding potential new claims product strategies

The new claims workflow

 

CONCLUSIONS AND RECOMMENDATIONS

UBI’s future depends on smart data and sophisticated analytics

Four decisions to make before upgrading to advanced analytics

Questions about telematics analytics answered

Recommendations

GLOSSARY