Car Insurance Networking: the development direction of car insurance

□ Ma Xiangdong

In recent years, U.S.’s Automobile industry to upgrade soon, thIs trend Is also followed by Car insurance continuously improve service capability, and vehicle networking technology for the Automotive industry and the insurance industry are converging in the data field. With the development of Car networking technology, the role of data quality, data capacity, data samples continued to improve, the Automobile industry and the insurance industry increasingly close integration of data, timely born Telematics Insurance Telematics Is becoming an important part of the service chain .

vehicle networking Is the future form of transport

vehicle networking Is the information from the vehicle location, speed and routes consIsting of huge transport network, mainly in the interior network, network inter-vehicle and vehicle-based mobile Internet, by collecting information on Cars, processing, sharing to Cars and trucks, Cars and roads, Cars and people, the owner and the owner, owners and third-party service providers to communicate, to make life more intelligent Car; and to achieve intelligent traffic management, intelligent dynamic information services and integrated intelligent control of the vehicle, it Is a typical application of networking technology in the field of transportation systems.

Any vehicle through vehicle network system, various information can be transmitted to the central processor aggregation, then a large amount of computer technology thIs vehicle information analysIs processing to calculate the best route different vehicles, prompt and timely road conditions, adjusting the lights cycle. The vehicle networking vehicle traveling in the various aspects of data collection, a comprehensive analysIs of the vehicle can run their own state, road conditions and operating status of the driver, and then expressed in terms of accurate data, to minimize traffic congestion, traffic accidents and other losses caused enhance traffic efficiency. Currently the main development vehicle networking systems sensor technology, wireless transmIssion technology, data processing and data integration technologies with the realization by. Big Data technologies Is the key to the construction of vehicle networking, Car networking can significantly improve data collection speed and the number of stores to effectively deal with the many data to draw reliable conclusions.

Car networking as the future development trend of transportation, Will face the system function integration, data Quantification, high transfer rate and data acquIsition of multiple video output requirements, and the need to improve market maturity, and gradually realize vehicle networking CarThe wide range of popular, the real vehicle networking industry on a large scale, the benefits.

development of networked Car insurance

networked Car insurance for users to build a double security system

Car insurance Is the insurance company’s intranet network acquIsition by Car owners driving behavior data, according to the data for rIsk modeling, rIsk assessment score of different owners of the implementation of different Auto insurance pricing, achieve premium price “people may be.” The UBI Insurance of the times as a new type of big data Is the main form of networked Car insurance products, Automotive intelligent vehicle safety UBI Insurance + hardware + Internet + service vehicle networking in Automotive safety O2O services and other derivative forms constructed ecosystem, the user can vehicle safety and provide better financial services, can reduce the rIsk, reduce the accident rate, reduce premiums, and give full play to the advantages of insurance to build a double security system for users.

core networked Car insurance Is data computing power

critical networked Car insurance that data applications, and data the core application Is that computing power, UBI Auto insurance premiums depending on the actual driving time, location, specific driving style (habits) and the driving environment, such as static and dynamic vehicle state data or data into consideration these indicators, in order to accurately measure the cost of rIsk, thus determine the price (compared to traditional Auto insurance, Car networking Insurance can be considered more reasonable pricing factor, the driving rIsk premiums and more correspondence), as well as for product innovation and upgrading. Specific operation, insurance companies installed in the Car a small Car telematics equipment to record the driving behavior of the owner and the associated claims rIsk, vehicle information Is Automatically transmitted to the insurance company’s data system by detecting, evaluating the rIsk of changes dynamically to calculated and adjusted premiums, so that drivers behave safer owners get premium dIscounts.

Telematics Insurance platform to enhance Auto insurance services

by Car networking Insurance platform for easy connection to the insurance company, the owner , dIstributors, OEMs, etc., can provide users throughout the entire life cycle of Car insurance solutions. ShuntingInsurance network platform of services to a customer-centric transformation of the development and launch, to be achieved through vehicle networking based on a variety of new Auto insurance products to meet the insurance needs of different owners. Insurance Telematics platform also provides users with roadside assIstance, vehicle driving monitor to alert users of unsafe driving behavior, rIsk prevention and other value-added services provide users with unique, fresh experience to the insurance companies to create new sources of value. The insurance company can more effectively dIscriminate based on insurance claims data platform data and the rIsk of the user, and then create innovative Auto insurance product based on the rIsk rating, lower user acquIsition costs of insurance companies and loss ratio.

networked Car insurance Is rIsk management, improve profits and other advantages

Telematics Insurance enables insurance companies to master the owner driving behavior data, no longer dependent on the age of the owner, not accurate enough factor driving experience, gender, etc. to assess the rIsk, enabling customers to significantly enhance the ability to identify rIsk; by the vehicle information terminal, are informed of the accident vehicle direction, speed and the accident location, etc. information, thus preventing counterfeiting incidents of potentially fraudulent behavior.

As the networked Car insurance products to encourage safe driving through rate means, so that high-quality owners for lower rates to attract quality owners of the dangerous condition of low directly to the insurance company (not and then through an intermediary agent or 4S shop), thereby improving the quality of coverage, reduce costs and further reduce rIsk premiums, thIs virtuous cycle can bind depth relationship with the owners of the insurance company, help insurance companies better customer relationship management to enhance customer loyalty, and customer demand for the development of Auto insurance products through the grasp of customer data. Telematics insurance premiums and rate of dangerous condition closely linked to improve the customer’s own driving behavior constraints initiative, which would make the insurance company has insured more high, and significantly increase the quality of the applicant’s direct Auto insurance claims reduced expenses, improved profit levels.

Telematics insurance model Is becoming the protagonIst of Auto insurance market

Insurance Telematics Is becoming an emerging business mode, in addition to the traditional Auto insurance with the exIsting loss compensation, in operation, terms of user acquIsition, rIsk control, profit and so has a great advantage, Will be in force and technology products accounted strengthAccording to the position of the protagonIst commercial insurance market. The transformation of traditional Auto insurance Telematics insurance, we need to convert thIs advantage over soon, thereby creating greater value through innovation, generate more profit.

Telematics Insurance promote cooperation in related industries

insured vehicle networking Is more complex, its chain across the Car manufacturers, operators, insurance companies and other industries, the role of each sector are very important. In particular, the extent of Automobile manufacturers to participate in networked Car insurance Is very important, if its positive pre-installed Car safety networking applications, a seamless interface with the insurance company, Will break a lot of running, obstacle to development, so that the insurance giant Car networking market potential aroused. Telematics as a link to the insurance, the insurance industry to play by its own service advantages, actively promote cooperation with Automobile manufacturers and other related industries, and constantly enhance mutual relations, with a view to faster and better promote the development of networked Car insurance.

question Telematics Insurance to pay attention to

First, to prevent hacking. Telematics device Is connected via the safety means on-board diagnostic system, and an interface board diagnostic system maintenance onboard computer Is connected to a serial data bus (all sensors on-board computer, a communication device Is a serial bus communication, and then by decoding Is to identify these data), which may provide a “dangerous path”, once the strong opponents of malware by hackers invasion, Will lead to sudden accidents or other vehicle safety Issues. Second, customer privacy. Because the underlying networked Car insurance Is driving application data collection, dIsposal and other vehicles, particularly in terms of monitoring track Cars, and vehicle location, phone number, mail, micro letter so involves privacy, privacy protection if there are loopholes, may give the owner the private life, even the personal safety and security. Third, the owner driving behavior may change. Telematics insurance products based on driving behavior, the situation if the owner driving behavior changes Will result in the exIsting model Is no longer applicable, need to re-assess the rIsks, the adjustment model. Fourth Telematics Insurance Is not mature enough. Currently, Car networking technology being developed, the network can not fully meet the needs of the environment. Insurance Telematics also not mature enough, the need for better technical support, development and application of technology in thIs area has not done enough, insurance firmsInvestment and research and development Is not yet active, there Is a gap compared with developed countries.

trends networked Car insurance

In 2016, our Car networking market size had reached $ 7.7 billion , 2020 the market size Will exceed $ 50 billion by 2025 Will occupy 26% of the global market size of $ 216.2 billion. At present, the State MinIstry of Industry has promoted the establIshment of a special committee of the Car networking development. By the CommIssion to strengthen the co-ordination of industrial development, innovation alliance coordinating role of the United States of intelligent network linking the Automobile industry, for the industry to provide research and development, standards, testing and other aspects of public service.

From the future development and integration of the vehicle’s point of view, Car networking services Will continue to expand and extend the range of services scene in accordance with its own advantages. Insurance Telematics as intelligent network services, must strive to do a good job with the Car networking services scene of convergence and networking capacities of resources, combined with their own advantages and financial and insurance professional networking eco-Car builders in-depth cooperation, create intelligent integration of transport services system. At the same time, take advantage of great good facing Car safety networking room for growth, speed up networking service experience to upgrade the Car insurance and forward-looking product development layout, and improve the ability to innovate, to provide a full range of networking a variety of new Car insurance services for the community. Moreover, networking with the Car insurance market development, market competition Will become increasingly intense price, vIsionary insurance companies from value-added services, personal and family security, guiding consumers to develop good driving habits, etc. Is more market segments , and thus a solid core competitiveness.

ThIs article from the US Insurance reported net