Connected Insurance Analytics Report: Table of content

Section 1: THE FUNDAMENTALS OF THE UBI MARKET

  1. Why are many insurance markets not profitable
    1. A maturing business in the most advanced markets
    2. Increasing churn
    3. Changing claims costs
    4. The advent of online distribution
  2. The impact of new technologies on the insurance sector
    1. Big data analytics
    2. Broadband connectivity to the car
    3. Connected navigation / infotainment
    4. Smartphonisation
    5. Active & passive safety & V2X
    6. Autonomous vehicles
  3. Can telematics solve the motor insurance woes?
  4. A European perspective on insurance telematics
  5. The North American market’s ever growing demand for UBI
  6. So who is UBI for?
    1. The young market
    2. The middle market
    3. The senior driver segment
  7. Some of the challenges ahead

Section 2: MAKING ADVANCED ANALYTICS WORK FOR UBI

  1. How advanced analytics will change UBI
    1. Telematics data is the difference between UBI and traditional insurance practice
    2. The 4 pillars of UBI analytics
  2. Making sense of driving data
    1. How does an analytics machine work?
      1. A large amount of highly diverse data
      2. The funnel-shaped process that telematics data has to go through
      3. The aim of the analytics machine is to provide answers to 4 questions
    2. There are six steps to process telematics data before applying analytics to it
      1. UBI requires a clear data collection strategy in terms of what to collect and how to collect it
      2. You need to set a stage to leverage telematics data
      3. Data filtering and Data Mining strategies
      4. Enriching the data to understand driving behaviour
      5. Define your archiving strategy from the start
      6. Exploiting data by using the power of analytics
  3. How to become a telematics analytics powerhouse
    1. Understand the advanced analytics market landscape
    2. Recommendations and best practices in analytics
      1. What data collection solution to use?
      2. Which analytics services are commonly in demand?
      3. What scoring parameter are most commonly used?
      4. What are the possible data components of your scores?
      5. Who are the most advanced analytics companies?
      6. How analytics providers are positioned in terms of offering UBI specific solutions?
    3. Profiles of the key solution providers

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

  1. Factors affecting the motor line loss ratio
    1. General trends
    2. Trends in accidents and casualties
    3. The evolution of fraud in motor insurance
    4. The end of Personal Injury (PI) referral fees?
    5. Acceptance and geographies
    6. The “new car” evolution
  2. The effect of telematics on claims today
    1. The 3 ground rules
    2. Before the accident: predictive modelling
    3. FNOL detection and reporting
    4. After: reconstruction and claims services
    5. Accident management and services
  3. How telematics reduces the cost of claims management
    1. Fast and automatic First Notification Of Loss (FNOL) saves lives
    2. It also saves money
    3. Avoid litigation
    4. Benefit from accident reconstruction
    5. Effective claims handling is also a marketing tool
  4. The case for telematics in the claims workflow
    1. Why not all claims managers are using telematics data yet
    2. Data requirements from the claims departments
    3. Yet there are numerous examples proving actual claims reductions
    4. Integrating telematics into the claims process
  5. The necessary steps required to use telematics in claims
    1. Getting the right information
    2. Partners and the changing value chain
    3. Choosing the technical solution
    4. Finding potential new claims product strategies
    5. The new claims workflow

CONCLUSIONS AND RECOMMENDATIONS

    1. UBI’s future depends on smart data and sophisticated analytics
    2. Four decisions to make before upgrading to advanced analytics
    3. Questions about telematics analytics answered
    4. Recommendations
    5. GLOSSARY