Insurance

Usage-Based Insurance Market to Reach $123 Billion by 2022, Globally-Allied Market Research According to a new report published by Allied Market Research, titled, "Usage-Based Insurance Market by Product Type (Pay-As-You-Drive Insurance (PAYD), Pay-How-You-Drive Insurance (PHYD), and Manage-How-You-Drive Insurance (MHYD) and Technology (OBD-II-Based UBI Programs, Smartphone-Based UBI Programs, Hybrid-Based UBI Programs, and Black-Box-Based UBI Programs): Global Opportunity Analysis and Industry Forecast, 2014-2022," the global... [Lire la suite]

The New Paradigm of Connected Insurance Connected insurance represents a new paradigm for the insurance business. This new insurance approach is based on the use of sensors for collecting and transmitting data on the status of an insured risk and the deployment of big data capabilities that transform raw information into actionable knowledge along the insurance value chain. The insurance sector, which is considered to be fairly traditional and resistant to change, is currently being overtaken by this transformative paradigm.... [Lire la suite]

Can Amazon Dominate in Car Insurance, Too? In January 2013, LIMRA reported that 90% of industry executives it had surveyed believe that insurance companies will continue to form strategic alliances with “non-traditional organizations” to expand distribution. The example cited was MetLife’s trial alliance with 200 Wal-Mart stores. Then Accenture’s “Customer-Driven Innovation Survey” found that more than two-thirds of customers would consider purchasing home, auto and life insurance from businesses other than insurers—23% were open... [Lire la suite]

Advanced Driver Assistance Systems  Advanced driver assistance systems, often referred to as ADAS, refers to all of the items in your vehicle that are meant to help keep you safe while you are in the vehicle. Smart Cars Cars that have ADAS are often referred to as intelligent vehicles. They are called such because they are designed to get a good grasp on the surrounding environment of the vehicle and passengers within it, and goes beyond simply checking power steering fluid and oil. This information is gathered... [Lire la suite]

Deep changes in the business of car insurance. Contribution of smartphone App SafetyNex in this global context 1 - Role of the insurer The insurance idea would have appeared on the occasion of the first great journey by boat, and the appearance of "modern" insurance is generally dated from the 19th century. The principle of insurance is easy to understand : if accidents are rare (compared to the number of occurrences - travel, car trips, etc.), a simple and prudent idea then is to "put aside" a certain amount of money for each... [Lire la suite]

SMARTPHONE APP SafetyNex COULD REDUCE ACCIDENT RATE BY 20%   I - ONBOARD TELEMATICS AND AUTO INSURANCE : REMINDER Onboard telematics now can measure behavior of a driver, and therefore, car insurers have early started this adventure of connected car, more or less successfully. The simplest applications that have been deployed are: . locate stolen vehicles . measure the usage of the driver, and in particular the number of kilometers traveled in order to propose adaptive pricing (vehicle that always stays in a garage will never have... [Lire la suite]

Shifting gears: Insurers adjust for connected-car ecosystems As the number of applications grows, a strong ecosystem is forming around the connected car, involving a range of participants—among them automakers, insurance companies, telecommunications firms, sensor and chip manufacturers, and digital-platform giants like Amazon and Uber, as well as academic institutions and standards-making bodies. The rise of this ecosystem is changing the competitive landscape for all participants, especially for companies in the insurance industry.... [Lire la suite]

New release of the ADAS and real time onboard driving risk assessment system SafetyNex NEXYAD announced a new release of the driving risk assessment system SafetyNex : . SafetyNex alerts the driver BEFORE a danger and lets time to slow down and avoid accident : SafetyNex acts on risk  This may save driver's life. Studies show that SafetyNex can reduce by 20% the number of accident. . SafetyNex records risk profiles and usage profiles (for insurance, fleets, nudge applications, ...) New user interface and new functionalities. ... [Lire la suite]

NEXYAD won the 7th Dec 2016, in Paris, the price of INSURANCE with the driving risk assesment smartphone App SafetyNex.SafetyNex is LABELIZED by the "pôle FINANCE INNOVATION" : FinTech InsurTech. NEXYAD was selected by a professional jury among talented startups of FINANCE INNOVATION. Reminder : the 30th Nov 2016, SafetyNex won the special prize 'coup de coeur" of the insurersduring the CERCLE LAB symposium.in June 2016, SafetyNex was selected by BMW (BMW Tech Date).NEXYAD is member of MOVEO, MOVEO Groupement ADAS, FINANCE... [Lire la suite]

NEXYAD CEO on WEB TV of MONDIAL DE L'AUTOMOBILE : about BMW Tech Date (BMW selected the NEXYAD product SafetyNex) SafetyNex is an onboard real time smartphone App that estimates the driving risk : . warns the driver BEFORE danger : reduces accident rate by 20%. computes risk profiles for Insurances companies (and others). is very strict about respect for driver's privacy Interview by Laurent MEILLAUD NEXYAD is member of Groupement ADAS (MOV'EO)