Agenda -

The panel of experts across the Insurance value chain will assess the insights on how understanding driver behavior will set the foundation for the future book of business in auto insurance.

• The Problem - Traditional Telematics data, which is heavily geared towards vehicle diagnostics and mileage, does not provide sufficient insights into the actual risk exposure of the insured drivers. While some conclusions could be drawn, the picture is incomplete without understanding the real driving behaviors.
• The Opportunity - To better assess the written book of business, and influence the selection and pricing of new risks, or design & market new UBI products - understanding the driving behaviors is key. Influencing youthful driver (the future book) by curbing their bad driving early with fact-based coaching, one can also impact loss ratios of the future.
• The Solution - With the advancing technology and the smart devices that we always carry, driving behaviors can be reasonably well-detected without the addition of any new hardware (cost), which in turn deliver new data (the missing link) that insurers never had.