18 décembre 2016

Driverless Cars Threaten to Crash Insurers’ Earnings

Driverless Cars Threaten to Crash Insurers’ Earnings The insurance industry has a $160 billion blind spot: the driverless car. Car insurers last year hauled in $200 billion of premiums, about a third of all premiums collected by the property-casualty industry. But as much as 80% of the intake could evaporate in coming decades, say some consultants, assuming crucial breakthroughs in driverless technology make driving safer and propel big changes in car ownership. As the threat approaches, U.S. insurance executives are spending... [Lire la suite]
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09 décembre 2016

The 7th od December 2016, NEXYAD has been labellized FinTech InsurTech by FINANCE INNOVATION

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]
26 novembre 2016

Evaluation of return on investment (ROI) with SafetyNex for a Car Insurance Company (onboard real time driving risk assessment)

Evaluation of return on investment (ROI) with SafetyNexfor a Car Insurance Company (onboard real time driving risk assessment) European and American car Insurance Companies are all currently testing onboard telematics systems (on professional electronics devices or on Smartphones), in order to study new opportunities provided by digital technologies in the evolution of their business and business models [1]. We also can see now some experiments in Asia. Indeed, digitization of the economy has an impact on insurance industry too,... [Lire la suite]
23 mai 2016

Autonomous driving levels 0 to 5: Understanding the differences

The National Highway Traffic Safety Administration defined five different levels for self-driving cars, ranging from complete driver control to complete autonomy. Here's a primer. : Between the buzz over self-driving cars at CES 2016 and the Obama administration's announcement to invest almost $4 billion in autonomous vehicle research over the next 10 years, the race to create the best self-driving car has never been hotter. And, the rise of self-driving cars is going to have a major impact on businesses and... [Lire la suite]
10 mai 2016

Connected car : Improving Risk Assessment Accuracy - The Motivation for Usage Based Insurance

Connected car : Improving Risk Assessment Accuracy - The Motivation for Usage Based Insurance With virtually every country requiring some form of insurance for automobile owners, drivers are constantly looking for ways to save money by lowering their monthly or annual premiums. When that search intersects with insurance companies’ desire to accurately assess individual customer’s risk to limit their liability exposure, the result is usage based insurance (UBI). With several different varieties of usage based insurance available, UBI... [Lire la suite]
29 mars 2016

position paper : onboard risk assesment for insurance companies

THE ULTIMATE SOLUTION FOR INSURANCE COMPANIES THAT NEED ONBOARD RISK ASSESSMENT . WHY TESTED SOLUTIONS ALL FAILED (ACTUARIES SAY) ? . WHY SOLUTIONS BASED ON "SEVERE BRAKING", "VELOCITY IN CURVE", "ACCELERATIONS" ... HAVE STRICTLY NO CHANCE TO WORK ? . WHAT TO DO TO GET A RISK ASSESSMENT MODULE THAT WORKS? (Presentation of a disruptive solution) By NEXYAD 1-INTRODUCTION Insurance companies now find themselves in front of a potential change in business model, and the so-called "pay how you drive" pricing is an idea whose time has... [Lire la suite]
05 juin 2015

Why bad driving will be eliminated by 2020 - and car insurance costs will plummet

Car insurance premiums could be just a fraction of current levels in five years’ time as driverless vehicles are expected to “eliminate bad driving” by 2020. Car insurance premiums could be just a fraction of current levels in five years’ time as driverless vehicles are expected to “eliminate bad driving” by 2020. Deaths and injuries caused by accidents are expected to virtually disappear and whiplash claims and car park disputes, which together account for 94pc of all insurance claims and cost insurers almost £3bn a year,... [Lire la suite]