Connected-Car Insurance: The Rise of Data Exchanges
Report Summary
Connected-Car Insurance: The Rise of Data Exchanges
Connected-car data exchanges and alternative models are competing to bring OEM data to the insurance industry, giving insurers a number of options.
Boston, March 21, 2018 – Auto insurers around the world are on a quest to accelerate the penetration of telematics insurance. While the use of smartphone apps as telematics sensors has grabbed the headlines over the past few years, insurers are starting to pay more attention to the opportunity to tap into the data generated by original equipment manufacturers’ factory-installed telematics systems. Many vendors have been positioning themselves to either take advantage of such OEM data or provide solutions to complement it.
Based on 38 Aite Group interviews conducted in Q4 2017 with technology vendors, insurers, and automobile manufacturers operating in North America and Europe, this report discusses the rise of connected-car exchanges as well as the approach of vendors not positioned as exchanges to help illustrate the competitive dynamic surrounding connected-car data exchanges. This report contains profiles of the following vendors: Arity, ATG Risk Clearinghouse (a division of SpeedGauge), byteRyde, Caruso, CCC, CMT, Driveway, IMS, LexisNexis Risk Solutions, Mojio, Motorq, Octo Telematics, Otonomo, Pack’n Drive, Smartcar, The Floow, TrueMotion, vDEXI, and Verisk.
This 56-page Impact Report contains 10 figures and one table. Clients of Aite Group’s P&C Insurance service can download this report, the corresponding charts, and the Executive Impact Deck.
This report mentions Abax, Access Development, Accessor Telematics, ACG, AIG, Air Pro Diagnostics, Allstate Corporation, American Family, Assured Telematics, asTech, AutoEnginuity, SiriusXM's Automatic Labs, Azuga, Baron, Bell Canada, Bessemer Venture Partners, BMW, Bosch, Tail Light's Bouncie, CalAmp, Cambridge Mobile Telematics, Capgemini, Carfax, Carfit, Chubb, Covea, Daimler AG, Danlaw, Dell Technologies, Deloitte, Delphi, Deutsche Telekom, Direct Line Group, Drive Metrics, Fidelidade, First Ventures, General Motors, Guidewire Software, Honda, Hyundai, LG, MetLife, Mitsubishi Motors, Nationwide, Omoove, Orange, Pinnacle Actuarial Resources, Progressive, PSA, Radius Networks, Red Mountain Technologies, RELX Group, Renault-Nissan, Rogers Communications, Salesforce, SAP, SAS, Software AG, State Farm, TecAlliance, Telefonica, Telus, Tesla, T-Mobile, TomTom Telematics, Travelers, Urgent.ly, USAA, Valeo, Vehcon, Verizon, Vodafone, Volkswagen, Willis Towers Watson, ZTE, and Zubie.