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PTOLEMUS Consulting Group
L’assurance auto connectée en Europe
Argus de l’Assurance - Paris -18 octobre 2016
PTOLEMUS intellectual property
Conférence Assurance Auto Connectée
PTOLEMUS
PTOLEMUS in a nutshell
The consulting & research firm for the connected world
2
Strategy definition
Investment assistance
Innovation management
Business development
Consulting services
Procurement strategy
Deployment Usage-based charging Connected insurance, driving behaviour monitoring &
analytics, road charging / electronic tolling, fleet leasing & rental, car sharing, Car As A Service, etc.
Telematics & Intelligent Transport Systems ADAS, connected vehicle, crowd-sourcing, fleet
management, eCall, bCall, SVR, tracking, vehicle data analytics (OBD / CAN-bus), VRM, V2X, xFCD
Positioning / Location enablement
M2M & connectivity
Fields of expertise
Car infotainment & navigation Connected services (traffic information, fuel prices, speed
cameras, parking, POIs), maps, navigation
Research services
PTOLEMUS
PTOLEMUS in a nutshell
Clients across the mobility ecosystem
3
Applications providers
Analytics providers
ITS operators, regulators & fleets
Insurers, aggregators & assistance providers
Device / location suppliers
Automotive manufacturers & suppliers Mobile telecom operators
Banks & private equity investors
2012 Directors’ report
(translation from the Italian original which remains the definitive version)
Financial Statements of the Company and the Group at 31 December 2012
27 March 2013
Legal and Administrative Office: 20121 Milan - Foro Buonaparte, 44
Fully paid-up share capital € 314,225,009.80 Tax Code and Milan Company Register no. 00931330583
www.itkgroup.com
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Telematics solution providers
PTOLEMUS 3
• 1,100 pages of analysis using: - 286 interviews in 28 countries - 5 years of research performed by
6 consultants in 4 countries - Insights from 30 consulting
projects - 350+ figures (charts, tables, etc.)
• 42 case studies including Allianz, AllState, Carrot Insurance, Vodafone Auto, Ingenie, OnStar- Progressive, Discovery Insure, Liberty Mutual, Octo Telematics, Renault-Amaguiz, State Farm, Unipol, Zurich
• A handbook of 60 suppliers' solutions including our own evaluation and rankings of TSPs, TTPs and analytics providers
• 30 insurance markets profiled
• 2020 & 2030 market forecasts - Canada, US, Latin America,
Europe, Russia, South Africa, India, Chinese and Japan
- Personal line / commercial line - Aftermarket / OEM
• Analyses of the disruptive forces at play - ADAS and autonomous vehicles - eCall & ERA Glonass mandates - The rise of smartphone apps - Big Data & analytics
•Targeted recommendations to insurers, regulators, TSP, OEMs and operators
* A free 125-page abstract can be downloaded from www.ptolemus.com
The analysis presented today comes from this report…
The reference report on the subject, quoted by
The Economist, the Financial Times and the
Wall Street Journal
Sources
PTOLEMUS 3
• Dissected the pricing and data management policies of the 27 largest UBI programmes: Admiral, Allianz, Allstate, American Family, AXA, Generali, Desjardins, Direct Line Group, Discovery Insure, Groupama, Ingenie, Insure the Box (Aioi Nissay Dowa), Intact Insurance, Intesa Sanpaolo Assicura, Liberty Mutual, Mapfre, Metromile, National General, Nationwide, Progressive, Reale Mutua, Sara Assicurazioni, State Farm, The Hartford, UnipolSai, Uniqa and Zurich
• Conducted 40 in-depth interviews with Telematics Service Providers (TSPs), analytics providers and insurers
• Reviewed more than 150 academic papers
• Consulted and appraised the solutions of 12 advanced analytics suppliers active in UBI, including Accenture, Cambridge Mobile Telematics, Cognizant, HERE, IBM, IMS, Lexis-Nexis / Wunelli, Octo Telematics, SAS, The Floow, Verisk Analytics and Willis Towers Watson
* A free abstract can be downloaded from www.ptolemus.com/analytics
… this new report…
Sources
The most comprehensive analysis of the connected
insurance analytics market and solutions
PTOLEMUS
… and our quarterly dashboard of the UBI market
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• 100-page barometer of the global UBI industry
- Covers over 200 insurers, TSPs and device providers
- Covers the US, Canada, France, Germany, Italy, Spain and the UK
- Now also Russia, China, Benelux, Latam & rest of Asia
- Issued on a quarterly basis - 250+ charts, tables & figures
•Leverages both public information and primary research
- A large set of public information collected from conferences, desk research, etc.
- Supplemented and validated by primary research & data (Interviews, supplier questionnaires, own market forecasts, etc.)
•Brings most important market news
•Estimates UBI volumes and sales for all main players
- Insurance companies - TSPs - Technology providers
• Deciphers the key market trends - UBI penetration - Number of programmes - Mix by business model (PAYD, PHYD, TBYB, etc.)
- Market share of all main insurers, TSPs and device makers
- Technology mix (Black boxes, OBD, apps, etc.)
- Business line mix - Segment mix (Young drivers, mature drivers, etc.)
- Channel mix aftermarket / OEMThe hard data you need to define & adjust your strategy
Sources
PTOLEMUS
Trends
A maelstrom of trends will impact insurance companies
7
Insurtech
Insurance telematics Sharing economy
Autonomous cars
Connected cars
Smartphonisation
Usage-based everything
Digitalisation
Online Direct Gamification
Big Data
Predictive analytics
AI
Machine learning
IoT
PTOLEMUS
Text
A maelstrom of trends will impact AXA
8
ESTIMATED IMPACT ON AUTO INSURANCE
MARKET
TODAY
AIMachine learning Insurtech
Sharing economy
ADAS & autonomous
vehicles
Connected cars
Usage-based everything
Online
Direct Gamification
Big Data
Predictive analytics
Insurance telematics
Smartphonisation
Digitalisation
IoT
TIME
Trends
…but not at the same time and with the same intensity
The waves - Impact of major trends on the auto insurance business
PTOLEMUSPTOLEMUS
Connected auto insurance: over 250 programmes globally
9
Towards usage-based everything
Source: PTOLEMUS quarterly UBI dashboard
Number of active UBI programmes worldwide by quarter since 2009
PTOLEMUS Source: PTOLEMUS quarterly UBI dashboard 10
UBI has reached all continents
Number of active UBI programmes by country
Towards usage-based everything
PTOLEMUS
Global market dashboard
Source: PTOLEMUS - Note: * Excluding trials ** Excluding Try-Before-You-Buy schemes 11
The global UBI market grew to 14.1 million policies in Q2
Q2 2016
PTOLEMUS 12
Italian market evolution
In Italy, telematics has become mainstream
Source: PTOLEMUS quarterly UBI market dashboard estimates
Q2 2016
PTOLEMUS 13
UK & Ireland market evolution
The UK market is now growing beyond the young driver niche
Q2 2016
Source: PTOLEMUS quarterly UBI market dashboard estimates
PTOLEMUS 14
German market evolution
The German market is starting to move too
Q2 2016
Source: PTOLEMUS quarterly UBI market dashboard estimates
PTOLEMUS 15
Factors of successes Insurers
1 Don’t be stopped by failure, try again Amaguiz, Direct Line, Progressive, Liberty Mutual
2 Test, test and… test Allstate, Progressive
3 Build a simple, attractive and customer-centric experience Insure the Box
4 Bring a solution that addresses the key actuarial weaknesses of your market Drivelikeagirl, Unipol
5 Do not copy, innovate Discovery, Genertel, Progressive
6 Collect less personal data and get more customers! Allianz France, Progressive
7 Don’t hide the box, make a benefit of it! Allianz Italy, Progressive, Reale Mutua
Understanding UBI successes
What are the best practices?
Source: PTOLEMUS analysis of more than 100 UBI programmes
PTOLEMUS 16
Factors of successes Insurers
8 Heavily promote your telematics programme through advertising once it is ready Progressive
9 Make a nice business case for your internal / external physical channels and convince them! Intact, Progressive, Unipol
10 Be pragmatic, do not fall in love with your technology Allstate, Desjardins, Discovery
11 Conduct a structured technology sourcing process Generali, Progressive
12 Bring your top management onboard for the long haul Progressive, Unipol
13 Invest to understand & control the technology and the analytics Allstate, AXA, Generali, Progressive
14 Launch different models and see what sticks! Allianz, AXA, Generali, Liberty Mutual
Understanding UBI successes
What are the best practices?
Source: PTOLEMUS analysis of more than 100 UBI programmes
PTOLEMUS Source: PTOLEMUS analysis - Note: * Evaluation criteria detailed in the Connected Insurance Analytics Study
In the future, making sense of data will become critical
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Sophistication of analytics* Very highVery low
Volume of data
collected
Very low
Very highBIG DATANALYTICS
Towards usage-based everything
PTOLEMUS Source: PTOLEMUS UBI market forecasts
We expect UBI to reach 100 million policies by 2020 and even 600 million by 2030!
18
Towards usage-based everything
PTOLEMUS
Conclusion
Insurers should anticipate the highest upcoming waves
Merci !
• Most insurers are confused by the multiplicity of waves and… tend to doubt all of them
• Once insurers will have handled smartphonisation then the major waves to catch will be Usage-based Everything, Connected Mobility and Autonomous
• Waiting is the best way to be hit by the wave
• The auto insurance business will be fully redefined and may not exist as such in 15 years
• The new paradigm still needs to be redefined
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PTOLEMUS Consulting Group
S t r a t e g i e s f o r M o b i l e C o m p a n i e s
Brussels - Boston - Chicago - Hanover - London Milan - New York - Moscow - Paris [email protected] www.ptolemus.com @PTOLEMUS
Frederic Bruneteau, Managing Director [email protected] +32 4 87 96 19 02