Insurance

Insurance 2030—The impact of AI on the future of insurance Welcome to the future of insurance, as seen through the eyes of Scott, a customer in the year 2030. His digital personal assistant orders him an autonomous vehicle for a meeting across town. Upon hopping into the arriving car, Scott decides he wants to drive today and moves the car into “active” mode. Scott’s personal assistant maps out a potential route and shares it with his mobility insurer, which immediately responds with an alternate route that has a much lower... [Lire la suite]

How telematics data is transforming car insurance With car insurance premiums expected to rise over the next few years, drivers are increasingly looking to technology to reduce the cost of their insurance. One technology that’s leading the way in lowering premiums is telematics. By combining telecommunications with vehicular technology, insurance companies can monitor various elements of a driver’s behavior. A GPS system and on-board diagnostics make it’s possible to record a car’s exact location, how fast it's traveling, and what’s... [Lire la suite]

Artificial Intelligence in Insurance – Three Trends That Matter Artificial intelligence is likely to affect the entire landscape of insurance as we know it. Change is here, more is coming. Today, the insurance market is dominated by massive national brands and legacy product lines that haven’t substantially evolved in decades. This kind of stagnation has historically suggested that it is an industry ripe to be disrupted. Insurance enterprises know this. At Emerj, the AI Research and Advisory Company, we advise insurance... [Lire la suite]

How smart tech could lower car insurance premiums Vehicles equipped with Advanced Driver Assistance Systems (ADAS) come with features such as lane departure warning, active park distance control and sensors to slow or stop vehicles in order to avoid a collision.  This technology has the potential to reduce motor accident frequencies up to 25% and cut car insurance premiums by USD 20 billion by 2020, according to research by Swiss Re and HERE. However, insurers must collaborate with motor manufacturers if they want to access... [Lire la suite]

Usage based share of insurance (UBI) penetration by number of policies in Italy, the United Kingdom (UK) and Europe as of 2018 This statistic displays the market penetration of the telematics, otherwise known as usage based insurance (UBI) in Italy, the United Kingdom (UK) and Europe as of 2018. Overall the market penetration of usage based insurance in Europe was two percent as of 2018.   Read more: https://www.statista.com/statistics/888342/telematic-insurance-penetration-in-europe-by-country/#statisticContainer

EVENT :  NEXYAD WILL BE AT CONSUMER TELEMATICS SHOW IN LAS VEGAS IN JAN 6th 2020 NEXYAD will be at CTS Las Vegas the 6th of January 2020. We will present our technology SafetyNex. SafetyNex is an Artificial Intelligence Software component made to be integrated into telematics products, and that computes in real time, at each moment, the driving risk that driver is currently taking. This software componant can be integrated into smartphone apps, telematics devices, beacons, dashcams. It can be used to alert driver with... [Lire la suite]

Swiss Re partners with Pioneer to launch telematics solution The new solution will be integrated into Swiss Re’s Coloride app, assessing a driver’s driving behaviour linked to incentive-based auto insurance Zürich-based insurance company Swiss Re and automobile electronics company Pioneer have developed a telematics solution that offers insurers a more personalised risk assessment and supports safer driving behaviour. The new solution will be integrated into Swiss Re’s Coloride app and is expected to be launched globally early... [Lire la suite]

Perspective: Trucking’s Telematics Systems Are Only as Good as the Losses They Prevent Rising insurance premiums are a perennial stress for many motor carriers, many of which are now installing telematics systems with the latest safety technologies to mitigate cost increases. This is a positive trend for the trucking industry, and more carriers should fully embrace these technologies as they soon will become necessary to operate a safe, efficient and, ultimately, more profitable trucking fleet. Motor carriers that install telematics... [Lire la suite]

Competing in a new age of insurance: How India is adopting emerging technologies With written gross premiums of USD 94.48 billion in FY18, the Indian insurance industry is the fifteenth largest in the world in terms of premium volume.1 Owing to rising awareness, innovative products and a proliferation of distribution channels, the insurance industry in India is expected to reach newer heights by 2020.2 Though insurance reach is still low in the country and there exists a huge untapped market, government policies of financial... [Lire la suite]

Trucks Assistance systems help to prevent accidents What technical developments have there been with driver assistance systems and telematics applications in commercial vehicles, and what impact will the technical innovations have on insurers? Munich Re and MAN truck & Bus discuss the issue. Jochen Friedrichs, Munich Re: Manufacturers are constantly presenting new vehicle telematics applications and ever more sophisticated driver assistance systems. I have the impression that, as with many things in the technology... [Lire la suite]