Volvo will join companies such as IBM, Verizon and Strategy Analytics at the Insurance Telematics Europe 2014 Conference starting tomorrow, May 6, in London to discuss the role of the connected car in insurance telematics product applications.
Insurance Telematics is one of the largest forums in Europe dedicated to launching usage based insurance (UBI) solutions. About 500 global insurance telematics leaders and 30+ progressive insurers are expected to attend the two-day conference, that will address the critical technology challenges and new business models disrupting the UBI industry.
What would also be of equal interest is the “connected”car in the world of insurance telematics products. With the advent of the smartphones and other mobile computing devices, the global telematics market was forced to adapt to the growth in popularity of smartphone applications replacing black box telematics concepts.
The intersection of connect car initiatives, such as location based sales, social networking and gamification for increased consumer interaction are all things that OEMs and insurers alike are tracking. Of coure, these will also be very dependent on a fast and reliable 4G network, bringing telecoms providers quickly into the picture, something that will be a key discussion topic at Insurance Telematics.
Commenting on Volvo’s decision to sign up, David Green, Market Development Director, Volvo said in a written statement, “This is an exciting time in the car industry because it feels as though we are on the verge of big change. The Internet, connectivity and telemetry are by no means new phenomena; however they, or perhaps we, appear to be reaching the right level of combined maturity to create a real opportunity for innovation. For this reason, events like Telematics Update’s Insurance Telematics Conference are important because it is the combination of data and information from existing business models which is fuelling the creation of new ones in the IoT.”
David will discuss, alongside Roger Lanctot, Director – Strategy Analytics, Stephen Mills, Business Analytics Strategy Lead for Europe – IBM and Keith Kammer, SVP – Verizon, the role of the connected car in insurance telematics applications.
The Conference has been organised by London, United Kingdom-based Telematics Update, a communications and events platform. The Insurance Telematics Europe Conference & Exhibition has 30+ key sessions and over 50 carefully selected insurance professionals from Renault, Allianz, Volvo, Zurich, Microsoft, MoneySupermarket.com, Autoline, Young Marmalade, Thatcham, LV=, FBD Insurance, Boston Consulting Group, Towers Watson, Comparethemarket.com, among others, participating in it.
They will explore the crucial challenges that insurers face today, including:
The smartphone proposition
The killer value added services
Build and communicate value to the consumer
UBI Gamification: The next level
The impact of data standards for UBI
Underwriting for fleets
Image Credit: Telematics Update
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