risk estimation

Return On Investment (ROI) for a car insurance company using onboard telematics A lot of car insurance companies now start Proofs Of Concepts (POCs) with onboard telematics. The idea is to apply digital new capabilities to find new business models for car insurance. We present a completely disruptive vision and telematics solution (SafetyNex) that first proposes to increase margin of car insurer, and then second, allows to use UBI (Usage Based Insurance) solutions such as Pays As You Drive and Pay How You Drive. Read... [Lire la suite]

NEXYAD made a presentation at the ADAS Morning in Paris : focus on Road Safety with the smartphone App SafetyNex ADAS Morning is organized by the MOV'EO Groupement ADAS :Check : http://groupementadas.canalblog.com/ NEXYAD presented the smartphone App SafetyNex (real time onboard risk assessement), that warns the driver before crossing adangererous area (letting time to slow down and avoid accident) : SafetyNex reduces accident rate by 20%.   And because risk is estimated in real time, it is possible to compute risk... [Lire la suite]

SMARTPHONE APP SafetyNex COULD REDUCE ACCIDENT RATE BY 20% I - ONBOARD TELEMATICS AND AUTO INSURANCE : REMINDER   Onboard telematics now can measure behavior of a driver, and therefore, car insurers have early started this adventure of connected car, more or less successfully.   The simplest applications that have been deployed are: . locate stolen vehicles . measure the usage of the driver, and in particular the number of kilometers traveled in order to propose adaptive pricing (vehicle   that always... [Lire la suite]

Deep changes in the business of car insurance. Contribution of smartphone App SafetyNex in this global context.   1 - Role of the insurer The insurance idea would have appeared on the occasion of the first great journey by boat, and the appearance of "modern" insurance is generally dated from the 19th century. The principle of insurance is easy to understand : if accidents are rare (compared to the number of occurrences - travel, car trips, etc.), a simple and prudent idea then is to "put aside" a certain amount of money for... [Lire la suite]

Some insurance companies gave up measuring driver behaviour :Nexyad explains why their settings are ineffective According to the newspaper ‘Les Echos”, AG Insurance gave up linking driving behavior to accident. For eight months, the insurer has equipped the car of staff members with “smartbox”. Verdict? Nah, nothing interesting linkable to driving style !In 2014, the bank insurer KBC had reached the same conclusion after a test conducted with 150 employees, whose car was equipped with a device provided by TomTom. ”   Read... [Lire la suite]

The Top Five Trends For The Connected Car In 2016   " ... Safety First — Security Will Be Big Universal security solutions won’t appear in 2016 but there will be many ingenious solutions available in 2016 that will begin to target how we can protect every layer of the car.  Alas, they won’t be integrated but will be available from each vendor separately.  A couple of interesting areas are new autopilot systems, controlling the trajectory of a vehicle without driver involvement and in-car proximity sensors that enable... [Lire la suite]

JUN 27, 2014 @ 12:34 PM 7,918 VIEWS In-Car Sensors Put Insurers In The Driver's Seat By Teresa Meek Jeff Branson, the police chief of Mattoon, Ill., has been tracking a lead-footed driver for nearly two years. A couple of times, he’s caught the guy doing 70 in a 55. He’s confiscated the vehicle twice but never issued a ticket. The speed demon just happens to be his 18-year-old son Chase. Branson monitors his son’s driving habits with a device provided by auto insurance provider State Farm that plugs into the car’s data... [Lire la suite]

Some drivers are quiet but still dangerous (in a road safety point of view) : Most people think that brutal drivers (strong braking, etc ...) are dangerous. The hypothesis is that they do not anticipate enough and then they areled to brake very strongly. Many Insurance Companies developped their own onboard "dirving style" estimation that scores this kind of hypothesis. Unfortunately, this idea (that seems to be logical) is not validated by facts : there are brutal drivers that are not dangerous, and there are quiet driversthat are... [Lire la suite]