AUTHORISATION

SECTION I
FUNDAMENTALS OF THE UBI MARKET
regulatory changes happened
and I’m sure that they will still
drive the evolution of the
insurance market.
Today, new technologies start to
evolve and sizeable amounts of
new cars sold are already
connected (e.g. 25% of new cars
for some car makers) and more
than 50% of population has a
s m a rtphone b u t , f ro m t h e
insurance perspective, most of
the companies are still focused on
traditional motor insurance (TPL
and Casco / comprehensive), new
production concentrated on
traditional products and there’s
s t i l l a l o w p e n e t r a t i o n o f
behavioural or pay-per-use
products.
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At the same time, our mid-term
expectation is that more than half
of cars will be connected and
t e l e m a t i c s d e v i c e s w i l l
i n c r e a s i n g l y b e c o m e a
commodity in the market (high
level of standardisation) and a
huge part of the population will
own a smart phone.
PTOLEMUS’ PRIOR
This will drive a fundamental shift
in the insurance offering that will
see an increasing penetration of
telematics-enabled products.
T h e r e i s a w i d e s p r e a d
development already going on,
but the pace still varies by region;
i n t h i s re s p e c t , i t ’s w o r t h
mentioning that right now only in
Italy there are almost 4 million
telematics policies and within our
portfolio the penetration is
around 20%.
Looking at the future, the new
challenge and opportunity will be
the connected car and – once
again – the next technological
evolution. This will enable a shift
from a business model based on
aftermarket devices to one based
on embedded connectivity,
enabling an acceleration of the
massification of telematics in
motor insurance.
Where does the Generali Group
stand today in the domain of
telematics?
At this moment w e h a v e
approximately 800.000 vehicles
connected, mainly in Italy, giving
information that enables us to
provide suggestions about
driving behaviour, customised
product offerings and pricing.
WRITTEN
AUTHORISATION
As already mentioned, apart from
the Italian case, we already have a
telematics solution in Spain. `
This year Generali Slovakia
launched an entirely new and
innovative telematics product –
SOS Partner - which is the first of
its kind not only in Slovakia, but
also in Central and Eastern
Europe
SOS Partner is a complementary
coverage to Casco coverage,
g i v i n g f u l l p ro t e c t i o n a n d
advanced assistance to the driver
and his family.
To give you a concrete example,
the customer proposition is
focused on safety/peace of mind:
the device automatically detects
an accident and sends an
immediate notification and GPS
coordinates of the crash to our
assistance service company Europ
Assistance; in addition, the device
has an SOS button, allowing the
customer to proactively seek
assistance, enabling direct
communication between Europ
Assistance operators and the
customer in his car.
Looking at the future, connected
insurance is pivotal in our new
strategy. We believe we can build
a s u s t a i n a b l e c o m p e t i t i v e
advantage in this space focusing
on pricing sophistication and
value added services.
The expansion of our footprint in
car telematics is our first priority,
but we are already working to
broaden our product range
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