About This Event
This webinar is 90 minutes.
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This webinar is complimentary to non-North American audiences in the CAS.
Telematics sensors measure how, how much, when and where a vehicle is operated -- thereby providing significant opportunity for insurers to better serve their customers in a number of ways. Premiums determined using this data are much more accurate than those calculated based on traditional factors, and consumers understand why their driving data impacts their premium. When a crash happens, insurers can provide emergency assistance and settle claims more efficiently. Finally, the insurers can counsel customers on changes they can make to reduce the odds of having an accident. This session will discuss these use cases as well as highlight some of the challenges, such as Data Privacy concerns.
Outline:
- What is telematics?
- What is telematics-based insurance? This section will discuss some of the common product variations and sensor solutions. The benefits and challenges of telematics (e.g., data privacy concerns) will be highlighted.
- What is the pricing opportunity? This section will identify the pricing benefits and quantify the predictive power.
- Is there an opportunity for claims? This section will explore some of the possibilities for making the consumer experience better when an accident happens.
- Is behavior change possible? This section will discuss behavior modification and identify the key components for an effective program.
- What will the future hold? This section will discuss some of the changes that could increase demand for telematics-based policies and cause challenges for insurers.
Speakers
Geoff Werner, a Fellow of the Casualty Actuarial Society, has been an actuary for over 30 years and is currently the Managing Member of Werner Advisory LLC. Prior to that, Geoff worked for two top-10 insurers, two well-known global consulting firms and the leading telematics service provider in the world. Geoff is a recognized expert in insurance pricing as evidenced by being the co-author of the text used by the Casualty Actuarial Society (CAS) to teach ratemaking to all actuarial candidates. Geoff is a member of the CAS Board of Directors.
Registration Information and Fees
This webinar is complimentary to non-North American audiences who are part of the CAS and the CIA.
The webinar will be conducted over GotoWebinar. The link to enter the webinar will be sent two hours prior to the webinar taking place. Please make sure to test your system.
