Europe and North America will reach 65.2 million active insurance telematics policies in 2021

Europe and North America will reach 65.2 million active insurance telematics policies in 2021

Europe and North America will reach 65.2 million active insurance telematics policies in 2021

According to a new research report from the IoT analyst firm Berg Insight, the number of insurance telematics policies in force on the European market reached 6.8 million in Q4-2016.

Growing at a compound annual growth rate (CAGR) of 34.8 percent, this number is expected to reach 30.0 million by 2021.

In North America, the number of insurance telematics policies in force is expected to grow at a CAGR of 38.2 percent from 6.9 million in Q4-2016 to reach 35.2 million in 2021. The European insurance telematics market is largely dominated by hardwired aftermarket black boxes while self-install OBD devices represent the vast majority of the active policies in North America. Several major US insurers have however recently shifted to solutions based on smartphones. Berg Insight expects a rapid increase in the uptake of smartphone-based solutions in all markets in the upcoming years.

Martin Svegander M2M/IoT analyst at Berg Insight, said:

“The US, Italy, the UK and Canada are still the largest markets in terms of insurance telematics policies.”

In North America, the market is dominated by US-based Progressive, Allstate, Liberty Mutual and State Farm as well as Intact Financial Corporation and Desjardins in Canada. The Italian insurers UnipolSai and Generali together accounted for around 50 percent of the telematics-enabled policies in Europe. Insurers with a strong adoption of telematics-enabled policies in the UK moreover include Admiral Group, Insure The Box and Direct Line. Several insurers in the rest of Europe have also shown a substantial uptake of telematics in 2016–2017.

“Insurers are increasingly expected to embrace every aspect of telematics to reduce the cost of claims, improve the underwriting process and add services to increase the customer value through differentiated telematics offerings”, continued Mr. Svegander.

He added that several attempts to reduce distracted driving and increase consumer engagement using smartphone-based insurance telematics have been seen in both Europe and North America. “Consumer engagement is now the focus for most insurance telematics programmes and will continue to be an important topic in the near term”, concluded Mr. Svegander.

Berg Insight chart: insurance telematics policies in force Europe and North America 2016-2021The insurance telematics value chain spans multiple industries including a large ecosystem of companies extending far beyond the insurance industry players. Automotive OEMs are showing an increasing interest in insurance telematics. Examples include General Motors, Ford, BMW, Daimler, PSA Group and Fiat. The vehicle manufacturers are expected to drive the long-term development of insurance telematics by offering the possibility to utilise connected car OEM data in pay-how-you-drive offers.

Notable aftermarket telematics service providers with a focus on insurance telematics include Octo Telematics with over 5.3 million active devices in Q4-2017 and other end-to-end solution providers such as Vodafone Automotive and Viasat Group. LexisNexis Risk Solutions, Intelligent Mechatronic Systems, Cambridge Mobile Telematics, Modus, The Floow, Scope Technologies and TrueMotion are also important players on the insurance telematics market.

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IoT Tech Expo North America 2017: Highlights from the event in Silicon Valley

The North America 2017 event welcomes 10,500+ attendees to Silicon Valley!

Firstly, we’d like to thank all those who attended the IoT Tech Expo North America 2017 which returned to the Santa Clara Convention Center, CA for the final leg of the 2017 world series with an extended agenda, larger expo, brand new topics and two co-located events covering Blockchain and AI. The event attracted an audience of 10,500+ attendees with delegates from across North America and beyond to discuss the potential of IoT, Blockchain and AI across a number of industries, with top-level speakers sharing their expertise and experiences on the subject. We hope you found the event beneficial and made some new connections.

We would also like to say a huge thank you to our sponsors, speakers and exhibitors for their involvement in the event and for making it a fascinating and diverse two days.

The two-day event hosted 15 conference tracks, an exhibition, AI start-up incubator, IoT meetup and an evening of networking. On the first day speakers including NASA, Halliburton, Boeing, Bluetooth, Cisco, State of Nevada, Ford, Schneider Electric and many more took to the stage to explore IIoT, manufacturing,  connectivity, smart factories, data privacy, interoperability, security, and more.

Day 2 welcomed the new conference tracks ‘Smart Transportation & Cities’ and ‘IoT in Enterprise’ with speakers from Thyssenkrupp, Shell, Federal Trade Commission, Visa, State of Utah, Toyota, Aviva, Compare, Seattle Reign FC and more sharing their knowledge and experiences across a range of industries and verticals.

Here are a few pictures of the show and you can share yours with us using @IoTTechExpo

If you missed the event, you can catch up on all the sessions by purchasing a Sessions Material Pass which allows you to download all the presentations and recordings from over the two days. These will be available before December 7th and paid pass holders will be emailed their log-in details.

You can also let us know what you think via this short survey, and be entered into a draw to enter 2 x Ultimate Passes to a future event of your choice.

The IoT Tech Expo World Series will be returning in 2018 with shows taking place in London, Amsterdam and Silicon Valley. You can find out more and register for each below:

IoT Tech Expo Global – 18- 19 April 2018, Olympia London

IoT Tech Expo Europe – 1- 2 October 2018, RAI Amsterdam

IoT Tech Expo North America – 28- 29 November 2018, Santa Clara, Silicon Valley

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Senet and Neptune Technology Group Partner to Enable Water Metering Solutions Throughout North America

Senet and Neptune Technology Group Partner to Enable Water Metering Solutions Throughout North America

Partnership delivers a highly scalable network of wireless IoT sensors for water metering applications designed to boost utility provider efficiencies.

Senet today announced that they are partnering with Neptune Technology Group, a pioneer in the development of advanced metering infrastructure (AMI) technologies, to implement wireless Network-as-a-Service (NaaS) infrastructure technology for water metering applications throughout North America.

Neptune’s new, LoRa®-enabled L900™ series of water endpoints provides a wide range of capabilities for water meter reading and sensor applications that demand low power consumption and long-range connectivity. By combining these metering units with Senet’s highly scalable and reliable LoRa LPWAN, Neptune is equipped with a connectivity solution to help water utility customers and municipalities boost efficiencies and accelerate sustainability efforts at the best possible total cost of ownership.

“Together with Senet, we are providing an innovative solution that facilitates advanced metering infrastructure for water utilities, removing the burden of having to deploy and maintain the network infrastructure themselves,” said Chuck Brunson, Neptune’s Director of Marketing.

“By implementing Neptune’s L900 system under a Senet-managed LoRaWAN network, cities and water utilities can implement Neptune’s value-added measurement, software and communication technologies – supporting their journey as Smart Cities. We are excited to engage in this partnership with Senet.”

“As utilities, municipalities and solution providers look at the total cost of ownership of IoT technologies LoRaWAN™ has key advantages that make it the preferred choice for a variety of applications, including water metering,” said Bruce Chatterley, CEO & President for Senet. “We are excited to be working with Neptune to solve some of the most demanding connectivity requirements within the Internet of Things and bring real value to utilities throughout North America”.

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Quectel appoints Peter Fowler as VP of North America Sales Region

Quectel appoints Peter Fowler as VP of North America Sales Region

Quectel Wireless Solutions, a leading global supplier of Internet of Things (IoT) modules, has announced the appointment of Peter Fowler as its Vice President of North America Sales Region, effective August 2017.

In the new role, Mr. Fowler will be responsible for developing and executing growth strategies to support Quectel’s continuing growth and broadening IoT market in North America.

Mr. Fowler has more than 18 years of experience in M2M/IoT industry. Prior to joining Quectel, Mr. Fowler worked at PassTime as President Fleet Finance & Telematics LLC. and Managing Director Strategic Alignment. He also held multiple leadership positions in M2M sector of Siemens, Cinterion and Gemalto for the previous 11 years. Fowler built the Siemens module business in North America from scratch and was later the President of Cinterion NAFTA as well as Latin America, eventually being promoted as Executive Global Head of Sales for Gemalto M2M.

“North America is a key market that no serious module vendor can ignore,” said Quectel’s CEO Patrick Qian. “Peter’s joining will greatly enhance our presence in the U.S. and Canada. I believe Peter will build and lead a strong sales and technical team in North America and his extensive experience will help drive our global marketing efforts.”

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Satsafe keeping motorists safer in North West England

Satsafe keeping motorists safer in North West

Start-up Satsafe makes the regular in-vehicle black box redundant by taking its concept a step further and opening up new opportunities to keep drivers safer in a range of environments. Satsafe is currently working with the expansive Manchester CityVerve project, and with Liverpool City Region’s LCR 4.0 program.

Bye-bye black box……hello Satsafe TelematiCam

Black Box technology is already being used by fleet managers to monitor driving behavior, and is increasingly also used by insurance providers to measure driver performance information that can help reduce insurance premiums – particularly where younger drivers are concerned.

However, technology start-up Satsafe has developed its TelematiCam, a device that’s designed to make the black box redundant. The device works by sending data to a cloud analytics platform where it is merged with other data sets to give a more granular picture of driver behavior than can be provided by standard black box technology.

The TelematiCam combines driving monitoring technology with intelligent in-built GPS, while accelerometers monitor driver behavior. It can also record high definition video.

Safety first

Given the nature of these features, the device has many uses. In the case of a crash, for example, supposedly the GPS data could help pinpoint the location, while the video footage could be helpful to insurers in assessing claims, and to emergency services in determining the causes of a crash.

Meanwhile, the TelematiCam’s ability to detect unusual motions via the accelerometer could be used to identify a crash or other incident. It is then possible to automatically alert the emergency services to the precise location and time of an incident. The speed with which emergency services get to accidents can be crucial, so this can be a life-line to those who may be injured.

LCR 4.0

Statsafe has received support for its technology from the Liverpool City Region business support program, LCR 4.0, which is providing business support to help SMEs innovate in areas like big data, Internet of Things, cloud computing, augmented reality and systems integration.

This support has enabled Satsafe to work with the Virtual Engineering Centre (VEC) and the Hartree Centre in a project to connect the TelmatiCam, a mobile app and a cloud platform, the company claims.

Read more: AI and IoT snatch almost half of insurtech investment in 2016

Manchester CityVerve

Satsafe is also the lead partner for road safety of CityVerve, the UK’s £15m city demonstrator project in Manchester, which is focused on using the Internet of Things to deliver a smarter, more connected city.

Satsafe told Internet of Business that, while it is only halfway through the project, so far it has deployed 40 telematics black box systems with a popular taxi company in the city, which is helping to encourage good driving practices. The black boxes can identify drivers with low scores, which may indicate that they could benefit from re-training, presenting safety benefits for the driver, passengers and other road users.

Stuart Millward Founder and CEO of SatSafe told Internet of Business, “This project is of particular significance for Satsafe as we have already spent two years refining our product for insurers and fleet managers with the support of various programs, such as the European Space Agency Business Incubator, LCR4.0, IoT Boost and more.

“CityVerve is an opportunity to demonstrate how telematics technology can also help other drivers such as minibus/community transport operators, those driving for work and courier companies.”

Read more: Automotive insurers admit to being ill-prepared for digital risks

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