AUTHORISATION
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SECTION I<br />
FUNDAMENTALS OF THE UBI MARKET<br />
C. The impact of the “smartcar” on the insurance sector<br />
3. The technologies that will change cars<br />
We believe that the smartcar will emerge in the next 3-5 years and have a major<br />
business impact within the next 10 years. We identify 6 categories of technological<br />
advances affecting insurers.<br />
a. Big car data analytics<br />
Licence<br />
agreement<br />
Vehicles are becoming rolling sensor platforms generating vast amounts of data<br />
from a growing number of data-generating nodes. The number of sensors onboard<br />
of most cars is expected to jump from 60-100 today to 200 in next 5-10<br />
years.<br />
signed by<br />
AAAA. Reserved<br />
Insurers will need to use analytics to mine heterogeneous data from smartphones<br />
to black boxes. Developing world-class solutions to help insurers implement<br />
enterprise data management strategy will become a priority for the next<br />
generation of Telematics Insurance Service Providers.<br />
for employees of<br />
BBBB<br />
We analyse the evolution of analytics and the Big Data market in Section V of the<br />
study.<br />
b. Broadband connectivity to the car<br />
2G’s end of life period is expected by the end of the decade in several countries.<br />
In the US, AT&T already announced that it would cut down its GSM network by<br />
2017.<br />
We expect 4G/LTE to take over rapidly, even leapfrogging 3G. Telematics service<br />
providers should consider the costs and implications of integrating 4G today. A<br />
good start would be in high-end video recording devices. Further implementation<br />
can then be reviewed for deployment after 2017 in order to provide at least 7 year<br />
device lifetime to insurers in the aftermarket.<br />
Strictly reserved to BBBB<br />
For embedded connectivity, the roll out will be much slower due to the design life<br />
cycle of the OEMs. Providing high speed connectivity to the vehicle before OEMs<br />
do is a great opportunity for value added service in the UBI portfolio of options.<br />
employees. Distribution to third<br />
parties is prohibited<br />
© PTOLEMUS - www.ptolemus.com - Global Usage-based Insurance Study - January 2016 - All rights reserved<br />
Strictly reserved for the internal use of the reader - Distribution to third parties is prohibited 109
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