TAILIEUCHUNG - The New Auto Insurance Ecosystem: Telematics, Mobility and the Connected Car

In dealing with car’s problem, mechanical engineers are those who can help to solve them. But sometimes they do not have enough time to see the mechanic and maybe the distance is quite far, and we are in hurry. Therefore we need instance help and solution. So it is believed that the use of expert system can be benefits in this situation by giving a temporary and instance guides to car’s owner. Inexperienced mechanic wrongly diagnosing the problem of the car can cause the loss of customer and income of an auto repair shop. If mechanic’s repair shop makes. | COGNIZANT The New Auto Insurance Ecosystem Telematics Mobility and the Connected Car Insurers and auto manufacturers worldwide have set their focus on telematics as the next wave of creating deeper customer relationships resulting in a convergence of new business models for the connected lifestyle. Executive Summary With the increased use of mobile communications the stage is set for property and casualty insurers to develop more meaningful and mutually beneficial relationships with policyholders. Nowhere is this more clear than in auto motor insurance where advances in machine-to-machine M2M communication or telematics are rippling across the marketplace generating data to more precisely assess risk and reward for policyholders who adhere to safe driving practices. For some time auto manufacturers have provided connected vehicle services to discerning drivers. This includes GPS emergency notification roadside assistance concierge services and other offerings. Today devices self-installed or plugged into a vehicle s onboard diagnostics OBD port or professionally-installed black boxes transmit driving behavior and mileage data directly to carriers back offices. As a result many carriers and brokers worldwide are leveraging telematics data to create more precise rating variables that underpin new usage-based insurance UBI products. This represents a sea change in policy underwriting where models have traditionally assessed risk and determined premiums based on group behavior typically demographics-based and proxy variables such as credit As insurers risk models become more sophisticated through the use of analytics applied to UBI-generated data a more precise driver profile will emerge. Analytics will also streamline and automate claims processes with real-time alerts and triggers further reducing expenses for the insurer and validating a better segmented book of business. As such telematics-supported UBI programs are upending the traditional auto insurance

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