Telematics Update: Insurance Telematics is now on the Rise, as Gender No Longer Determines Insurance Premiums
Telematics Update: The recent exclusion of gender from information that European insurers can use to assess a driver's risk has brought insurance telematics into the limelight, with the use of telematics boxes, or black boxes, installed in cars expected to go mainstream.
London (PRWEB) July 12, 2013
Telematics Update: Until relatively recently, the phrases ‘gender equality' and ‘insurance telematics' weren't often heard in the same sentence. But this has changed since European laws now prohibit gender as a determining factor when it comes to insurance premiums. As a result, the opportunity for telematics companies to enter the market is huge. At the same time insurers must establish strategic partnerships to prepare for the gender ruling and enable them to offer customer friendly products and services.
Ruthana Foulkes, insurance telematics project director explains how important it is for new players, as well as those more established in the industry to get ‘clued-up' on insurance telematics. "At Telematics Update's recent Insurance Telematics Europe Conference in London, the likes of Allianz, Autoline, Confused.com, Zurich and Ford join the delegation. It is clear that telematics has firmly made its way into the strategies of key insurance companies and those who are not scoping out the space could get left behind."
Crucial Insurance Telematics Market Overview
Telematics Update has released The Insurance Telematics Report 2013 so more established players as well as those looking to enter the market can benefit from a comprehensive overview of the insurance telematics space. The 85 page report covers the following topics:
- Penetrate the booming 2013 market: Detailed analysis of the burgeoning insurance telematics space will enable companies to develop a robust strategy to solidify your share of the market before other companies get ahead
- Market prospects: Our industry survey reveals when companies working in the space anticipate telematics products and services will reach mass consumer uptake so companies can adjust their timelines to take the lead in the North American and European markets
- Prepare for gender legislation: Learn to adapt business models for telematics, as gender can no longer determine insurance premiums, to improve revenue in 2013 and beyond
- Business model case studies: Determine whether PAYD, MHYD and PHYD will deliver the biggest ROI for insurers to make strategic investment decisions
- How to form partnerships: Understand data collection models and how this will determine which parts of the ecosystem from insurers, telematics providers, wireless carriers and OEMs need to collaborate for the biggest ROI
- Overcome data privacy concerns: Discover how customers can be incentivized to share their data to generate the biggest ROI from insurance telematics products and services
It also looks at other topics such as what we can learn from the fleet space, IP, legislation and how to overcome long-term challenges to consumer adoption. An exclusive report extract is available to download via the website: http://www.telematicsupdate.com/insurance-report/index.php.
This recent addition to the Telematics Update business intelligence series is 85 pages and includes the B2B survey results of 300+ senior-level insurance telematics execs. This has also been supplemented with interviews from Ford, AAA Insurance, The AA, Towers Watson and the USDOT amongst other experts. An exclusive report extract is available to download via the website: http://www.telematicsupdate.com/insurance-report/index.php.
There is a $1000 discount available on full report price until Friday 19th July.
The report can be purchase via the website: https://secure.telematicsupdate.com/insurance-report/purchase.php or by contacting the Telematics Update team at reports(at)telematicsupdate(dot)com
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Telematics Update offers unique and incisive news and analysis for the automotive telematics space. Our business know-how includes areas such as Insurance Telematics, Safety, Infotainment, In-Car Content, Navigation, LBS, Fleet Management and Telematics for EVs. Our newsletter, reports and global B2B conferences unite thought-leaders from across the automotive, consumer electronics, mobile, wireless, digital and web industries to drive innovation, build relationships and bring vehicle connectivity to the masses.
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