Automotive and insurance services set to lead megascale IoT deployment
As global director of Vodafone IoT, Stefano Gastaut leads the mobile operator’s Internet of Things (IoT) business unit and is responsible for driving its IoT growth, business strategy, products and profit and loss at a global level, including for the Vodafone Automotive business. Prior to this role, Gastaut was chief executive of Vodafone Egypt, which provides services to more than 40 million customers. In this position he improved net promoter score (NPS) amongst consumer and enterprise customers, driving revenues and market share from 40% to 45% in two years.
Earlier, Gastaut was chief executive of Vodafone Partner Markets where he was responsible for forming strategic alliances with local operators around the world to extend Vodafone’s reach. Gastaut joined Vodafone in 2004 and has held a number of senior positions in both consumer and enterprise in Vodafone Italy and Vodafone Ireland.
At Mobile World Congress 2018, Gastaut shared his vision for Vodafone IoT and his views on the markets short to medium term development with George Malim, the managing editor of IoT Now
IoT Now: You’ve recently taken up your new role leading IoT within Vodafone. What attracted you to this position?
Stefano Gastaut: It’s an area in which we have clear leadership and therefore a business in which Vodafone can have a say. This is a relatively new business in Vodafone with new challenges but big opportunities as well. We can be at the forefront of those and I find that stimulating.
The other attraction is that this sector is going to go through rapid change. I’m sure that in five years, when we look back, we’ll say we thought IoT would be x and instead it’s y – that’s going to be an exciting environment to work in.
IoT Now: Which verticals do you see as having the greatest short-to-mid-term potential?
SG: There are probably three verticals in terms of simple connection volumes that will be big but then I’d add some services as well. The three verticals are utilities, automotive and healthcare. We see those three today and in the next three years as the dominating verticals on the connection side of IoT.
However, when I look at services in addition to pure connections, the clear industry leading the way is in the automotive sector. A second, less obvious market, is insurance with insurance services based on IoT presenting an enormous opportunity. We really think insurance will be profoundly changed by IoT and it’s important to recognise that I’m not talking about this change happening in ten years but in the next two or three years.
The key reason for this is that the core business of insurers is pricing risks. The more information you have available to do that, the better at it you become. For example, with motor insurance the charge used to be based on the main driver’s demographic details and driving history. However, being able to charge based on each user’s driving style and duration is clearly more powerful. IoT gives insurers access to a huge pool of data to enable them […]
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