IoT Insurance Observatory - Summary.pdf

Matteo Carbone
Matteo CarboneInsurtech Thought Leader, Keynote speaker and writer on insurance innovation à Connected Insurance Observatory
1
2023 Observatory’s Members
The IoT Insurance Observatory
Insurance IoT Observatory is a seven-year-old think
tank specialized on the insurance IoT with the
participation of top executives from the most
relevant Insurers, Reinsurers, and Tech players in
the IoT insurance arena
The Observatory is about connecting people and
ideas in order to spread the innovation culture
throughout the insurance market with three
concrete outcomes:
• A global multiclient research on the insurance IoT
paradigm
• One-to-one workshops to each member
• Plenary symposiums with all the members
Some figures about our seven editions:
• 2846 hours of one-to-one workshops over the five
annual editions of the Observatory
• 32 plenary symposiums between North America
and Europe
• 7 international publications
The IoT Insurance Observatory’s mission is to promote
a profitable IoT adoption in the insurance sector
2
One-to-one workshops to deep-dive the more relevant aspects
for your company
20
Earned additional service fees
Security/ Safety
o Remote monitoring and
emergency services to provide
peace-of-mind
Care
o Remote monitoring and assistance
focused on specific health and
wellbeing needs directly
connected to households:
‒ Chronic patients
‒ Post surgery patients
‒ Elders
‒ Kids
‒ Pets
Solar panel
Lighting
Intrusion
alarm
Heating/
cooling
Thermostat
Flower
control
Computers &
electronics
Mould detector
Camera
Refrigerator
and freezer
Fire detection
Camera
Lock
Electric meter
Vacuum
cleaner
Washing
machine
Heat
exchanger
Auto value proposition
enlarged with a suite of
services telematics based
Home security and safety and
a platform of care services a la
carte
Alert in case speed
limits are exceeded Client assistance and
personalized case
management in case
of crash
Highway/parking
area tolling
Alert if the car is
hit when parked
Weather alert based
on geo-localization
Road or medical assistance
via dedicated button
Automatic assistance
to the client on the
premises in case
of severe accident
Simplified claim
notification, including
automatic form fill-in
based on telematics data
Claim
certification
at client’s
disposal
Short-
time
theft
cover
Parking
localiza-
tion
Bodyguard for
emergency outside
the car when parked
Antitheft service if the
box is removed/
uninstalled
Stolen vehicle
recovery
Alert in case the vehicle
is moved when the
engine is off (e.g. tow-
away)
Alert if the
car is hit
when
parked
1 3
2 4
5
6
7
8
9
10
11
12
13
14
15
16
ed
48
IoT-based solutions
Real time Reporting
Other information about
risk exposure
Claim
management
• Collisionand machine breakdown detection
(and position tracking) for proactive claim
management and assistance
• Set of objective information for claim
handling (including in court)
Hazard (indecent and near miss)
and remediation action
detection
Risk selection
• Amount and context of usage as input
for UW decisions (policy cancellation,
change of policy conditions, reinsurance,
…)
• Detected hazard and remediation
actions to support UW decisions (policy
cancellation, change of policy
conditions, reinsurance, …)
• Logged/missed inspection and safety
tasks as input for UW decision (policy
cancellation, change of policy
conditions, reinsurance, …)
Behavioral
change
• Detected hazards and remediation
actions as inputs to the loss control
team for the delivery of risk prevention
services to this policyholder
• Logged/missed inspection and safety
tasks as input to the loss control
team/supervisors and to employee
behavioral change programs
Safety (inspection/
maintenance) task completion
Real-time risk
mitigation
• Asset condition monitoring and warning
dispatch
• Risky situation (incoming collision)
detection and alerts to the employee
• Anti-theft solutions
• Alerts to supervisors for missed
inspection and safety tasks
Pricing
• Amount and context of usage as input
for the renewal pricing calculation
• Detected hazard and remediation
actions as input for renewal pricing
calculation
• Logged/missed inspection and safety
tasks as input for the renewal pricing
calculation
4
5
1
2
6
Prevention
Claims
Continuous
UW
Expensive agri-machines listed in the farm inventory are a target for IoT solutions
6
Telematics usage on commercial auto is at infancy
Source: IoT Insurance Observatory, represented the level of maturity of the most advanced market for each business lines
• First pilots focused on
one single use case
• Roll out by few
pioneers (with some
volumes)
• More pilots and
product lunches, by
greatest part of players
by using a "me-too"
approach
• Only few top players
understand IoT full
potential (UW, claims,
VAS), define their
own approach (e.g.
big data) and push to
sell more
• Commercial offer
differentiation
• IoT potential fully
understood and
increased commercial
push by all players
• Differentiating
solutions / providers
over top players
• Telematics approach
is the standard for the
insurance business
• Relationship
consolidation between
top players and
providers, cross-country
diffusion of best
practices
Incubation
phase
Growth
phase
Maturity
phase
Exploration
phase
Learning
phase
“What is the ROI of the use
case?"
"Does the approach
make sense?"
“What is the best way to do
it at my company?"
“How to extract more value
from the data?"
Personal
Auto
Commercial Auto
Commercial
Buildings
Homeowner
IIoT and
Workers’ Comp
25
Active rewards &
Apple Watch
Active Rewards
Baseline before
program introduction
Vs. Vs.
100
Level of physical activity (indexes as
100 the baseline before the program
introduction)
137 179
100
131 167
Source: Incentives and physical activity, Rand - 2018
This approach has showed a significant effectiveness in increasing the physical
activity level
34
The governance of economics of the IoT insurance paradigm is complex and also
requires a strong support from your financial department
Cash back, rewards, ..
Commission to distributors
$
Iot costs (hardware amortization,
installation, operative costs)
$
Insurer costs
Claims ($)
Discount valve
Premiums ($)
Service fees ($)
Service subsidization
valve Insurer
profitability
Loss ratio valve
Products, cash back, ..
From partners
Other shared
value valve
POLICYHOLDERs
$
$
Benefits from the
insurance IoT use cases
Iot Mastery
Pressure Gauge
Partner contribution
valve
Sources: IoT InsuranceObservatory
126
Service
fees paid
by the
customer
Traditional
bottom line
Street
value of
the IoT
services
Value
sharing
IoT
costs
Hardware
Services
Risk
prevention
Enhanced
Claim
Management
Continuous
Underwriting
Bottom
line with
IoT
Street value of the
IoT services
Discount and
incentives to the
customer
Intermediary
remuneration
Source: IoT Insurance Observatory
Partners’
contributions
Real-time
mitigation
Behavioral
Change
Risk
selection
Pricing
sophistic.
To achieve a positive ROI you will need to combine
deep business function expertise and cross-functional initiatives
A key element is to deeply understand business needs
3
Peer discussions at plenary symposiums LAST SESSIONS
Sep 20th ’22 Vegas
8:30-
8:55
The Smart Home Revolution
– How Home Telematics Will
Re-Invent Insurance,
Kirkpatrick (State Farm)
8:57-
9:22
HDVI SHIFT 2.0 & INSURTECH
2.0– Witte (HDVI)
9:24 -
9:46
Commercial Auto Insurance
Innovation in Mexico: Jooycar
and SwissRe, Labbe (Jooycar)
and Briggs (Swiss Re)
9:48 -
10:10
Nationwide is partnering with
Razor Tracking for its
Agribusiness Bond
(Nationwide)
10:12-
10:34
New Models in Analyzing EV
through telematics”
McMahon (CMT)
11:04-
11:19
The Power of Telematics -
Pockard (Earnix)
11:21-
11:43
How Smart Home Can Drive
Risk Mitigation and Behavior
Change, Bales (Notion)
11:45-
12:07
Moving from recovery to
resilience: IoT to reduce the
risk of flooding for
commercial and municipal
properties, DeMarco
(Microsoft)
12:09-
12:54
Roundtable on the usage of
OEM data in the auto
insurance sector: Hernandez
(Nationwide), Marlow
(Allstate), Turner (The
Hartford), Monteforte (The
Floow)
12:54-
13:16
A Decade of Learning,
Listening, and Enhancing,
Stover (Nationwide)
Oct 13th ’22 Rome
10.00-
10.15
Introduction - Battista (Net
Insurance)
10.15-
10.45
Net Sure: a new proposition
for the connected home -
Pittana and Vignoletti (Net
Insurance)
10.45
-11.15
From ICE to EV – understand-
ding the changing risk
landscape - Wörle (Swiss RE)
11.15-
11.45
Next: the future of mobility -
Serra (Generali) and
Bergamini (Telepass)
12.15-
12.45
Innovation is Change,
Myszkowski (Talanx)
12.45-
13.45
Roundtable on the insurance
industry
innovation: Genovese (Swiss
Re), Vandewattijne (Ageas),
Antier (Relyens), Myszkowski
(Talanx)
14.30-
15.00
The maturity of the
autonomous driving and the
challenges of the insurance
sector: the experiences in
Italy of Reale Group -
Beninati (Reale Group)
12.15-
12.45
Combining OEM and
smartphone data to enhance
and create new propositions -
Monteforte (The Floow)
15.30-
16.00
How risk expertise is
empowered by technology to
tackle risks and help
customers in a world that is
becoming more and more
uncertain (focus on moving
assets) - Marinoni and
Klimczak (Axa XL)
Click
to view
Click
to view
Jan 18th ‘23 NYC
10.30-
11.00
Presentation of Microsoft's
latest IoT Innovations, Jeffries
(Microsoft)
11.00-
11.30
Unorthodox Application of
IoT in Commercial Property
indurance, Meredith (FM
Global)
11.30-
12.00
Moving toward predict and
prevent: merging 1st party
and 3rd party data sources
for improved analytics,
Silverman and DeMarco
(Microsoft)
12.00-
12.30
From Zero to One: Creating
and Implementing Your IoT
Strategy, Ford and Bales
(Notion)
13.30-
14.30
Innovation Roundtable: Pick
(Tokio Marine), Sardinha
(Travelers), Lim (USAA), and
Briggs (Swiss Re). Moderated
by Jones (HSCM Ventures)
14.30-
15.00
What Does It Take To Be The
Most Customer-Centric
Insurance Company in The
World?, Millard (Vitality)
15.15-
15.45
Combining OEM and
smartphone data to enhance
and create new propositions -
Cook (The Floow)
15.45-
16.15
The new wave of telematics,
the future is here, Kowal
(Arity)
16.15-
16.45
Every Second Matters®:
Reducing Distracted Driving,
Mezerewski (Travelers) and
Morse (CMT)
Jan 25th ‘23 Milan
10.30-
11.00
Digital Agriculture:
buzzword or game
changer?, Brini (Digital
Agriculture Works)
11.00
-
11.30
Artificial Intelligence
Insurance Use Cases,
Melpignano
(Neosperience)
11.30-
12.00
Driving Change: The
Surprising Power of
Incentives in Promoting
Safer and Cleaner Fleet
Operations, Miraglia (Keet)
12.20-
12.50
What policyholders think
of telematics - evidence
from a joint IoT
Observatory - Swiss Re
survey, Genovese (Swiss
Re)
12.50-
13.45
Roundtable on the usage
of OEM data in the auto
insurance sector:
Kuryłowicz (Warta), Serra
(Generali), Lassa (Scor),
and Monteforte (The
Floow)
14.30-
15.00
Unorthodox Application of
IoT in Commercial
Property Insurance,
Meredith (FM Global)
15.00-
15.30
How IoT helps FloodFlash
settle property flood
claims in under four hours,
Rimmer (FloodFlash)
15.30-
16.00
From Zero to One:
Creating and
Implementing Your IoT
Strategy, Bales (Notion)
Click
to view
Click
to view
May 1st ‘23 Hartford
12.15-
12.30
The opportunity to provide
telematics services to all the
policyholders in your portfolio,
Carbone (IoTinsObs)
12.30-
13.00
Pay for 'What' you Drive.
Innovations in vehicle risk, Briggs
(Swiss Re)
13.00-
13.30
Big Brother: A Carrier’s Journey in
Telematics, Smart (Philadelphia
Insurance Companies)
13.30-
14.00
Assessing and monitoring risks of
your moving assets, Klimczak (Axa
XL)
14.00-
14.30
What Scalable Home IoT Programs
Must Have in Common, Marshall
(Whisker Labs)
14.30-
15.00
The Future Policyholder Journey:
How to Optimize for Risk and
Customer Experience, Bales
(Pepper)
15.30-
16.00
How IoT helped pay claims in
under four hours, Rimmer
(FloodFlash)
16.00-
16.30
FM Approved, IoT-enabled loss
prevention at client locations,
Meredith (FM Global)
16.30-
17.15
Roundtable about risk prevention
in commercial lines: Erdman
(Azuga), Bond (Great American),
Villena (Hanover), Turner (The
Hartford)
17.15-
17.45
Transformation of risk - past,
present, future, Hui (HSB)
17.45-
18.15
Managing an IoT Innovation
Portfolio from Ideas to Scaling,
Campany (The Hartford)
May 9th ‘23 Zurich
11.30-
12.00
Making China's commercial
truck insurance profitable
through AI - Zhuang (Swiss
Re)
12.00-
12.30
Is preventive and behavioural
insurance positively
influencing people’s lifestyle?
The story of Generali Vitality
and an outlook for the future
- Mironici (Generali)
12.30-
13.00
The impacts a Health & Enga-
gement program has on life
insurers - Faustini (Swiss Re)
13.45-
14.30
Roundtable about behavioral
change: Mironici (Generali),
Faustini (Swiss Re), Wang
(Optimity)
14.30-
15.00
Going beyond Safety with
Insurance Telematics -
Mumdziev (CMT)
15.00-
15.30
Flock: how telemetry data
can enable and incentivise
safer fleets - Smith (Flock)
15.45-
16.15
Relyens journey from insurer
to risk manager – Antier
(Relyens)
16.15-
16.45
Save lives, cut costs. The
power of digital driver
coaching for internal logistics
operations - Bulcke (Rombit)
16.45-
17.30
Roundtable about cyber
risks of the connected cars:
Bannon (ALD), Seara
(DeNexus), Murté (CyQuant),
Shlisel (GuardKnox Cyber
Technologies), moderator:
Bourdonnec (ALD)
Click
to view
Click
to view
4
Peer discussions at plenary symposiums LAST SESSIONS
5
The workshop modules
Business lines Cross-business line topics
Personal auto
Homeowner
Life & Health
Commercial auto
Property
General liability
Workers’ compensation
Employee benefits
Extended warranty
Personal
lines
Commercial
lines
Senior
living
Agriculture
Retail
Manufacturing
Construction
Marine
Behavioral
change
Customer
experience,
wrapping services,
and new insurance
opportunities
IoT
architecture
Continuous
Underwriting
IoT-based innovation
journey
(IoT and leadership
capabilities)
Go to
market
Real time risk
mitigation
Ecosystems
ROI
management
Digital twins &
and new
information-
based business
MedMal
6
Cross-
business
line topics
We help Observatory members to address the insurance IoT opportunity
• Insurance IoT vision and strategy
• Reasons for adopting IoT into the insurance business
• Current insurance IoT state of adoption
• Deep dive (international best practices, local opportunities,
expected future development) on the following IoT use case:
‒ Enhance Customer Experience
‒ Create Value on Insurance Core Processes
‒ Develop New Knowledge
‒ Improve Sustainability
• Deep dive on leadership capabilities (international success
stories, pitfalls):
‒ Vision and strategy
‒ Usage of IoT as enabler for business performances
‒ Engagement
‒ Governance
‒ Continuous innovation
• Key aspects for execution:
‒ Go to market and partnership
‒ People, skills, and processes
‒ IoT architecture
‒ Data sources and sensors
• Focus on critical issues and constraints:
‒ Compliance and privacy
‒ Operational risks (security and data
confidentiality)
What
learnings are
obtained by
members?
• Understanding the business reasons for adopting the insurance IoT paradigm
• Understanding the role of leadership capabilities in the IoT-based business transformation
• Identifying the different insurance IoT use cases and their contribution for providing a strategic advantage to your business
• Identifying approaches to execute a profitable IoT-based business transformation
• Assessing customer readiness for different value propositions
• Assessing your company’s readiness for the IoT journey
• Understanding best practices for enhancing IoT capabilities and leadership capabilities in your insurance IoT program
• Identify the challenges of insurance IoT programs (both in the design, execution, and continuous evolution) and methods
for addressing them
7
Some quotes from the Observatory participants
It gives telematics and IoT an awesome platform for collaboration, teaching, and knowledge sharing
The initiative provided though-provoking contents. The deep dive sessions were clear and stimulated
great engagement within the organization
Our journey has been going ‘hand in hand’ with your support and the insightful conversations held
over those years at the IoT Insurance Observatory, including our joint papers
When you read a press release or hear a speech at conference, you see only the shining side. It is great to have
the rationalization that connects dots, and investigates also what has not worked well
We appreciate the insights, examples, and best practices you and the Observatory community bring
forward to help us shape our journey
A great support in rationalizing the different opportunities for using IoT data in our business and
defining a roadmap for our business transformation
Relevant opportunity to approach unique contents about connected insurance –
both from actuarial angle and customer angle - and to discuss them with Insurance
Executives, Associations and the Regulator
The Observatory is creating value for us. We met insurers that have started to
work with us. It is also useful to have a constant update on the markets around
the world
Rich information as well as thought provoking analysis and perspective. An
unbiased platform that focuses on truly learning and embracing IoT. His ability to
bring others together and to share thoughts and experiences is extremely valuable
Insurer
Insurer
Reinsurer
Insurer
Insurer
Insurer
IT provider
IoT Insurtech
startup
Insurer
8
Contacts
Matteo.carbone@iotinsobs.com
+39 (334) 622- 0378
+1 (929) 309-6026
Matteo Carbone
Founder and Director of the IoT Insurance Observatory
Keynote speaker and writer on insurance innovation
Global InsurTech Influencer (Top 3 InsurTech Influencer by InsurtechNews, Top 2 InsurTech
Influencer by Right Relevance, Top 10 InsurTech Influencer and top 4 insurtech influencers
in the fintech community by Onalytica)
www.IoTinsObs.com
1 sur 8

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IoT Insurance Observatory - Summary.pdf

  • 1. 1 2023 Observatory’s Members The IoT Insurance Observatory Insurance IoT Observatory is a seven-year-old think tank specialized on the insurance IoT with the participation of top executives from the most relevant Insurers, Reinsurers, and Tech players in the IoT insurance arena The Observatory is about connecting people and ideas in order to spread the innovation culture throughout the insurance market with three concrete outcomes: • A global multiclient research on the insurance IoT paradigm • One-to-one workshops to each member • Plenary symposiums with all the members Some figures about our seven editions: • 2846 hours of one-to-one workshops over the five annual editions of the Observatory • 32 plenary symposiums between North America and Europe • 7 international publications The IoT Insurance Observatory’s mission is to promote a profitable IoT adoption in the insurance sector
  • 2. 2 One-to-one workshops to deep-dive the more relevant aspects for your company 20 Earned additional service fees Security/ Safety o Remote monitoring and emergency services to provide peace-of-mind Care o Remote monitoring and assistance focused on specific health and wellbeing needs directly connected to households: ‒ Chronic patients ‒ Post surgery patients ‒ Elders ‒ Kids ‒ Pets Solar panel Lighting Intrusion alarm Heating/ cooling Thermostat Flower control Computers & electronics Mould detector Camera Refrigerator and freezer Fire detection Camera Lock Electric meter Vacuum cleaner Washing machine Heat exchanger Auto value proposition enlarged with a suite of services telematics based Home security and safety and a platform of care services a la carte Alert in case speed limits are exceeded Client assistance and personalized case management in case of crash Highway/parking area tolling Alert if the car is hit when parked Weather alert based on geo-localization Road or medical assistance via dedicated button Automatic assistance to the client on the premises in case of severe accident Simplified claim notification, including automatic form fill-in based on telematics data Claim certification at client’s disposal Short- time theft cover Parking localiza- tion Bodyguard for emergency outside the car when parked Antitheft service if the box is removed/ uninstalled Stolen vehicle recovery Alert in case the vehicle is moved when the engine is off (e.g. tow- away) Alert if the car is hit when parked 1 3 2 4 5 6 7 8 9 10 11 12 13 14 15 16 ed 48 IoT-based solutions Real time Reporting Other information about risk exposure Claim management • Collisionand machine breakdown detection (and position tracking) for proactive claim management and assistance • Set of objective information for claim handling (including in court) Hazard (indecent and near miss) and remediation action detection Risk selection • Amount and context of usage as input for UW decisions (policy cancellation, change of policy conditions, reinsurance, …) • Detected hazard and remediation actions to support UW decisions (policy cancellation, change of policy conditions, reinsurance, …) • Logged/missed inspection and safety tasks as input for UW decision (policy cancellation, change of policy conditions, reinsurance, …) Behavioral change • Detected hazards and remediation actions as inputs to the loss control team for the delivery of risk prevention services to this policyholder • Logged/missed inspection and safety tasks as input to the loss control team/supervisors and to employee behavioral change programs Safety (inspection/ maintenance) task completion Real-time risk mitigation • Asset condition monitoring and warning dispatch • Risky situation (incoming collision) detection and alerts to the employee • Anti-theft solutions • Alerts to supervisors for missed inspection and safety tasks Pricing • Amount and context of usage as input for the renewal pricing calculation • Detected hazard and remediation actions as input for renewal pricing calculation • Logged/missed inspection and safety tasks as input for the renewal pricing calculation 4 5 1 2 6 Prevention Claims Continuous UW Expensive agri-machines listed in the farm inventory are a target for IoT solutions 6 Telematics usage on commercial auto is at infancy Source: IoT Insurance Observatory, represented the level of maturity of the most advanced market for each business lines • First pilots focused on one single use case • Roll out by few pioneers (with some volumes) • More pilots and product lunches, by greatest part of players by using a "me-too" approach • Only few top players understand IoT full potential (UW, claims, VAS), define their own approach (e.g. big data) and push to sell more • Commercial offer differentiation • IoT potential fully understood and increased commercial push by all players • Differentiating solutions / providers over top players • Telematics approach is the standard for the insurance business • Relationship consolidation between top players and providers, cross-country diffusion of best practices Incubation phase Growth phase Maturity phase Exploration phase Learning phase “What is the ROI of the use case?" "Does the approach make sense?" “What is the best way to do it at my company?" “How to extract more value from the data?" Personal Auto Commercial Auto Commercial Buildings Homeowner IIoT and Workers’ Comp 25 Active rewards & Apple Watch Active Rewards Baseline before program introduction Vs. Vs. 100 Level of physical activity (indexes as 100 the baseline before the program introduction) 137 179 100 131 167 Source: Incentives and physical activity, Rand - 2018 This approach has showed a significant effectiveness in increasing the physical activity level 34 The governance of economics of the IoT insurance paradigm is complex and also requires a strong support from your financial department Cash back, rewards, .. Commission to distributors $ Iot costs (hardware amortization, installation, operative costs) $ Insurer costs Claims ($) Discount valve Premiums ($) Service fees ($) Service subsidization valve Insurer profitability Loss ratio valve Products, cash back, .. From partners Other shared value valve POLICYHOLDERs $ $ Benefits from the insurance IoT use cases Iot Mastery Pressure Gauge Partner contribution valve Sources: IoT InsuranceObservatory 126 Service fees paid by the customer Traditional bottom line Street value of the IoT services Value sharing IoT costs Hardware Services Risk prevention Enhanced Claim Management Continuous Underwriting Bottom line with IoT Street value of the IoT services Discount and incentives to the customer Intermediary remuneration Source: IoT Insurance Observatory Partners’ contributions Real-time mitigation Behavioral Change Risk selection Pricing sophistic. To achieve a positive ROI you will need to combine deep business function expertise and cross-functional initiatives A key element is to deeply understand business needs
  • 3. 3 Peer discussions at plenary symposiums LAST SESSIONS Sep 20th ’22 Vegas 8:30- 8:55 The Smart Home Revolution – How Home Telematics Will Re-Invent Insurance, Kirkpatrick (State Farm) 8:57- 9:22 HDVI SHIFT 2.0 & INSURTECH 2.0– Witte (HDVI) 9:24 - 9:46 Commercial Auto Insurance Innovation in Mexico: Jooycar and SwissRe, Labbe (Jooycar) and Briggs (Swiss Re) 9:48 - 10:10 Nationwide is partnering with Razor Tracking for its Agribusiness Bond (Nationwide) 10:12- 10:34 New Models in Analyzing EV through telematics” McMahon (CMT) 11:04- 11:19 The Power of Telematics - Pockard (Earnix) 11:21- 11:43 How Smart Home Can Drive Risk Mitigation and Behavior Change, Bales (Notion) 11:45- 12:07 Moving from recovery to resilience: IoT to reduce the risk of flooding for commercial and municipal properties, DeMarco (Microsoft) 12:09- 12:54 Roundtable on the usage of OEM data in the auto insurance sector: Hernandez (Nationwide), Marlow (Allstate), Turner (The Hartford), Monteforte (The Floow) 12:54- 13:16 A Decade of Learning, Listening, and Enhancing, Stover (Nationwide) Oct 13th ’22 Rome 10.00- 10.15 Introduction - Battista (Net Insurance) 10.15- 10.45 Net Sure: a new proposition for the connected home - Pittana and Vignoletti (Net Insurance) 10.45 -11.15 From ICE to EV – understand- ding the changing risk landscape - Wörle (Swiss RE) 11.15- 11.45 Next: the future of mobility - Serra (Generali) and Bergamini (Telepass) 12.15- 12.45 Innovation is Change, Myszkowski (Talanx) 12.45- 13.45 Roundtable on the insurance industry innovation: Genovese (Swiss Re), Vandewattijne (Ageas), Antier (Relyens), Myszkowski (Talanx) 14.30- 15.00 The maturity of the autonomous driving and the challenges of the insurance sector: the experiences in Italy of Reale Group - Beninati (Reale Group) 12.15- 12.45 Combining OEM and smartphone data to enhance and create new propositions - Monteforte (The Floow) 15.30- 16.00 How risk expertise is empowered by technology to tackle risks and help customers in a world that is becoming more and more uncertain (focus on moving assets) - Marinoni and Klimczak (Axa XL) Click to view Click to view Jan 18th ‘23 NYC 10.30- 11.00 Presentation of Microsoft's latest IoT Innovations, Jeffries (Microsoft) 11.00- 11.30 Unorthodox Application of IoT in Commercial Property indurance, Meredith (FM Global) 11.30- 12.00 Moving toward predict and prevent: merging 1st party and 3rd party data sources for improved analytics, Silverman and DeMarco (Microsoft) 12.00- 12.30 From Zero to One: Creating and Implementing Your IoT Strategy, Ford and Bales (Notion) 13.30- 14.30 Innovation Roundtable: Pick (Tokio Marine), Sardinha (Travelers), Lim (USAA), and Briggs (Swiss Re). Moderated by Jones (HSCM Ventures) 14.30- 15.00 What Does It Take To Be The Most Customer-Centric Insurance Company in The World?, Millard (Vitality) 15.15- 15.45 Combining OEM and smartphone data to enhance and create new propositions - Cook (The Floow) 15.45- 16.15 The new wave of telematics, the future is here, Kowal (Arity) 16.15- 16.45 Every Second Matters®: Reducing Distracted Driving, Mezerewski (Travelers) and Morse (CMT) Jan 25th ‘23 Milan 10.30- 11.00 Digital Agriculture: buzzword or game changer?, Brini (Digital Agriculture Works) 11.00 - 11.30 Artificial Intelligence Insurance Use Cases, Melpignano (Neosperience) 11.30- 12.00 Driving Change: The Surprising Power of Incentives in Promoting Safer and Cleaner Fleet Operations, Miraglia (Keet) 12.20- 12.50 What policyholders think of telematics - evidence from a joint IoT Observatory - Swiss Re survey, Genovese (Swiss Re) 12.50- 13.45 Roundtable on the usage of OEM data in the auto insurance sector: Kuryłowicz (Warta), Serra (Generali), Lassa (Scor), and Monteforte (The Floow) 14.30- 15.00 Unorthodox Application of IoT in Commercial Property Insurance, Meredith (FM Global) 15.00- 15.30 How IoT helps FloodFlash settle property flood claims in under four hours, Rimmer (FloodFlash) 15.30- 16.00 From Zero to One: Creating and Implementing Your IoT Strategy, Bales (Notion) Click to view Click to view May 1st ‘23 Hartford 12.15- 12.30 The opportunity to provide telematics services to all the policyholders in your portfolio, Carbone (IoTinsObs) 12.30- 13.00 Pay for 'What' you Drive. Innovations in vehicle risk, Briggs (Swiss Re) 13.00- 13.30 Big Brother: A Carrier’s Journey in Telematics, Smart (Philadelphia Insurance Companies) 13.30- 14.00 Assessing and monitoring risks of your moving assets, Klimczak (Axa XL) 14.00- 14.30 What Scalable Home IoT Programs Must Have in Common, Marshall (Whisker Labs) 14.30- 15.00 The Future Policyholder Journey: How to Optimize for Risk and Customer Experience, Bales (Pepper) 15.30- 16.00 How IoT helped pay claims in under four hours, Rimmer (FloodFlash) 16.00- 16.30 FM Approved, IoT-enabled loss prevention at client locations, Meredith (FM Global) 16.30- 17.15 Roundtable about risk prevention in commercial lines: Erdman (Azuga), Bond (Great American), Villena (Hanover), Turner (The Hartford) 17.15- 17.45 Transformation of risk - past, present, future, Hui (HSB) 17.45- 18.15 Managing an IoT Innovation Portfolio from Ideas to Scaling, Campany (The Hartford) May 9th ‘23 Zurich 11.30- 12.00 Making China's commercial truck insurance profitable through AI - Zhuang (Swiss Re) 12.00- 12.30 Is preventive and behavioural insurance positively influencing people’s lifestyle? The story of Generali Vitality and an outlook for the future - Mironici (Generali) 12.30- 13.00 The impacts a Health & Enga- gement program has on life insurers - Faustini (Swiss Re) 13.45- 14.30 Roundtable about behavioral change: Mironici (Generali), Faustini (Swiss Re), Wang (Optimity) 14.30- 15.00 Going beyond Safety with Insurance Telematics - Mumdziev (CMT) 15.00- 15.30 Flock: how telemetry data can enable and incentivise safer fleets - Smith (Flock) 15.45- 16.15 Relyens journey from insurer to risk manager – Antier (Relyens) 16.15- 16.45 Save lives, cut costs. The power of digital driver coaching for internal logistics operations - Bulcke (Rombit) 16.45- 17.30 Roundtable about cyber risks of the connected cars: Bannon (ALD), Seara (DeNexus), Murté (CyQuant), Shlisel (GuardKnox Cyber Technologies), moderator: Bourdonnec (ALD) Click to view Click to view
  • 4. 4 Peer discussions at plenary symposiums LAST SESSIONS
  • 5. 5 The workshop modules Business lines Cross-business line topics Personal auto Homeowner Life & Health Commercial auto Property General liability Workers’ compensation Employee benefits Extended warranty Personal lines Commercial lines Senior living Agriculture Retail Manufacturing Construction Marine Behavioral change Customer experience, wrapping services, and new insurance opportunities IoT architecture Continuous Underwriting IoT-based innovation journey (IoT and leadership capabilities) Go to market Real time risk mitigation Ecosystems ROI management Digital twins & and new information- based business MedMal
  • 6. 6 Cross- business line topics We help Observatory members to address the insurance IoT opportunity • Insurance IoT vision and strategy • Reasons for adopting IoT into the insurance business • Current insurance IoT state of adoption • Deep dive (international best practices, local opportunities, expected future development) on the following IoT use case: ‒ Enhance Customer Experience ‒ Create Value on Insurance Core Processes ‒ Develop New Knowledge ‒ Improve Sustainability • Deep dive on leadership capabilities (international success stories, pitfalls): ‒ Vision and strategy ‒ Usage of IoT as enabler for business performances ‒ Engagement ‒ Governance ‒ Continuous innovation • Key aspects for execution: ‒ Go to market and partnership ‒ People, skills, and processes ‒ IoT architecture ‒ Data sources and sensors • Focus on critical issues and constraints: ‒ Compliance and privacy ‒ Operational risks (security and data confidentiality) What learnings are obtained by members? • Understanding the business reasons for adopting the insurance IoT paradigm • Understanding the role of leadership capabilities in the IoT-based business transformation • Identifying the different insurance IoT use cases and their contribution for providing a strategic advantage to your business • Identifying approaches to execute a profitable IoT-based business transformation • Assessing customer readiness for different value propositions • Assessing your company’s readiness for the IoT journey • Understanding best practices for enhancing IoT capabilities and leadership capabilities in your insurance IoT program • Identify the challenges of insurance IoT programs (both in the design, execution, and continuous evolution) and methods for addressing them
  • 7. 7 Some quotes from the Observatory participants It gives telematics and IoT an awesome platform for collaboration, teaching, and knowledge sharing The initiative provided though-provoking contents. The deep dive sessions were clear and stimulated great engagement within the organization Our journey has been going ‘hand in hand’ with your support and the insightful conversations held over those years at the IoT Insurance Observatory, including our joint papers When you read a press release or hear a speech at conference, you see only the shining side. It is great to have the rationalization that connects dots, and investigates also what has not worked well We appreciate the insights, examples, and best practices you and the Observatory community bring forward to help us shape our journey A great support in rationalizing the different opportunities for using IoT data in our business and defining a roadmap for our business transformation Relevant opportunity to approach unique contents about connected insurance – both from actuarial angle and customer angle - and to discuss them with Insurance Executives, Associations and the Regulator The Observatory is creating value for us. We met insurers that have started to work with us. It is also useful to have a constant update on the markets around the world Rich information as well as thought provoking analysis and perspective. An unbiased platform that focuses on truly learning and embracing IoT. His ability to bring others together and to share thoughts and experiences is extremely valuable Insurer Insurer Reinsurer Insurer Insurer Insurer IT provider IoT Insurtech startup Insurer
  • 8. 8 Contacts Matteo.carbone@iotinsobs.com +39 (334) 622- 0378 +1 (929) 309-6026 Matteo Carbone Founder and Director of the IoT Insurance Observatory Keynote speaker and writer on insurance innovation Global InsurTech Influencer (Top 3 InsurTech Influencer by InsurtechNews, Top 2 InsurTech Influencer by Right Relevance, Top 10 InsurTech Influencer and top 4 insurtech influencers in the fintech community by Onalytica) www.IoTinsObs.com