Auto Insurance: the promise of money in exchange for a spy
INSURANCE - The insurer Allianz Tuesday unveiled a new offering: a personalized driving, with the key savings for the wisest motorists.
The world of auto insurance began an unprecedented turn: offer its customers to accept a cookie recording their driving behavior with, the key, the promise of substantial savings for good drivers. After Direct Assurance, it is the turn of Allianz to offer such an offer in France. And this is probably just the beginning for this type of offer called "Pay how you drive" and continues to expand overseas.
The promise to pay less in exchange for good behavior. The German insurer Tuesday unveiled its new car insurance offering called "Allianz connected Conduct". Launched in early October, this formula is based on a simple principle: to adapt the amount of the insurance premium to the motorist's driving style. "The new version of the device to reward drivers with responsible driving. Customers can now manage their insurance premium and receive a discount of up to 30%," promises the German insurer.
The price: accept being constantly monitored. But how can an insurance company whether a motorist is reasonable or dangerously driving? Taking advantage of technological advances including objects connected to monitor in real time the behavior of motorists.
Indeed, customers tempted by this new offer must agree to embark on their vehicle a snitch charged 1 euro per month. This case developed by Semiautomatics, is installed in the engine and saves all a series of information: the vehicle use frequency, in what context (day / night, week / weekend), acceleration and braking, how to take turns, etc. All this information is transmitted to the driver's smartphone via Bluetooth and then sent to the insurer via the Internet.
Allianz then assigns each driver a note that changes every month: for each upgrade of these notes, the insured can benefit from a rate reduction. Those whose conduct is deemed dangerous or inappropriate are however not financially sanctioned but encouraged to do better. At least for the moment: after identifying them, the temptation can be great for insurance companies to cancel their contracts and not to accept them home, as it has happened in the United States.
What impact on privacy? Allianz emphasizes "total respect of privacy" and highlights the fact that the cookie has no GPS and therefore not possible to locate the vehicle, unlike a plotter, which are often equipped luxury vehicles to fight against theft. But as this case continuously communicates with the driver's smartphone, it is technically not impossible to reach geotag drivers.
In order not to be seen as an extension of the police, the insurance company also ensures that it does not measure the speed of the vehicle, which is nonetheless a good indicator of each of driving style. But things could change: the United States, most insurers offer this formula record this indicator. Furthermore, coupling housing with a smartphone allows to go very far: in the UK, a driver can be penalized if he drove too long without taking a break or if he made a phone call while driving .
. Advanced in road safety and knowledge The community can also find an advantage: most insurers offering this formula target young drivers. A category that has a lot more accidents and therefore pays much more expensive its insurance. With such monitoring driving, insurers therefore can "educate" their young clients through financial incentives. And enable young people with wise leadership to make substantial savings over paying only very high premiums for other young people. Average gain recognized in most countries: 30% savings.
The other interest is what can bring all this data for researchers. Behaviorists can thus listen conduct in context: more nervous on Monday morning as the rest of the week, and more dangerous late Saturday afternoon and early evening. As network managers, they might eventually identify stretches of road to be developed by looking at what are the areas where drivers perform the most unexpected sudden braking or flying shots.
. A formula called to grow this type of personalized product already has a name: the "Pay How You Drive" (Phyd), "pay according to your conduct", not to be confused with the "Pay As You Drive "(PAYD), which is to pay according to use. This type of offer is stammering in France: Allianz launched an experiment in June 2014 and only Direct Insurance (a subsidiary of the insurer Axa) was already offering this service since May 2015.
But abroad, the insurance world has converted to "Pay How You Drive" much more massive scale: US insurers began to put it in the early 2000s in the United States before the movement from spreading in the UK, Australia, Japan, Italy or Spain. The trend is general and in the more developed countries, insurance companies are beginning to work with automakers to eventually install such cases even before the factory. So there is a good chance that other French companies to follow suit and Lillian Direct Insurance.
By Navada
INSURANCE - The insurer Allianz Tuesday unveiled a new offering: a personalized driving, with the key savings for the wisest motorists.
The world of auto insurance began an unprecedented turn: offer its customers to accept a cookie recording their driving behavior with, the key, the promise of substantial savings for good drivers. After Direct Assurance, it is the turn of Allianz to offer such an offer in France. And this is probably just the beginning for this type of offer called "Pay how you drive" and continues to expand overseas.
The promise to pay less in exchange for good behavior. The German insurer Tuesday unveiled its new car insurance offering called "Allianz connected Conduct". Launched in early October, this formula is based on a simple principle: to adapt the amount of the insurance premium to the motorist's driving style. "The new version of the device to reward drivers with responsible driving. Customers can now manage their insurance premium and receive a discount of up to 30%," promises the German insurer.
The price: accept being constantly monitored. But how can an insurance company whether a motorist is reasonable or dangerously driving? Taking advantage of technological advances including objects connected to monitor in real time the behavior of motorists.
Indeed, customers tempted by this new offer must agree to embark on their vehicle a snitch charged 1 euro per month. This case developed by Semiautomatics, is installed in the engine and saves all a series of information: the vehicle use frequency, in what context (day / night, week / weekend), acceleration and braking, how to take turns, etc. All this information is transmitted to the driver's smartphone via Bluetooth and then sent to the insurer via the Internet.
Allianz then assigns each driver a note that changes every month: for each upgrade of these notes, the insured can benefit from a rate reduction. Those whose conduct is deemed dangerous or inappropriate are however not financially sanctioned but encouraged to do better. At least for the moment: after identifying them, the temptation can be great for insurance companies to cancel their contracts and not to accept them home, as it has happened in the United States.
What impact on privacy? Allianz emphasizes "total respect of privacy" and highlights the fact that the cookie has no GPS and therefore not possible to locate the vehicle, unlike a plotter, which are often equipped luxury vehicles to fight against theft. But as this case continuously communicates with the driver's smartphone, it is technically not impossible to reach geotag drivers.
In order not to be seen as an extension of the police, the insurance company also ensures that it does not measure the speed of the vehicle, which is nonetheless a good indicator of each of driving style. But things could change: the United States, most insurers offer this formula record this indicator. Furthermore, coupling housing with a smartphone allows to go very far: in the UK, a driver can be penalized if he drove too long without taking a break or if he made a phone call while driving .
. Advanced in road safety and knowledge The community can also find an advantage: most insurers offering this formula target young drivers. A category that has a lot more accidents and therefore pays much more expensive its insurance. With such monitoring driving, insurers therefore can "educate" their young clients through financial incentives. And enable young people with wise leadership to make substantial savings over paying only very high premiums for other young people. Average gain recognized in most countries: 30% savings.
The other interest is what can bring all this data for researchers. Behaviorists can thus listen conduct in context: more nervous on Monday morning as the rest of the week, and more dangerous late Saturday afternoon and early evening. As network managers, they might eventually identify stretches of road to be developed by looking at what are the areas where drivers perform the most unexpected sudden braking or flying shots.
. A formula called to grow this type of personalized product already has a name: the "Pay How You Drive" (Phyd), "pay according to your conduct", not to be confused with the "Pay As You Drive "(PAYD), which is to pay according to use. This type of offer is stammering in France: Allianz launched an experiment in June 2014 and only Direct Insurance (a subsidiary of the insurer Axa) was already offering this service since May 2015.
But abroad, the insurance world has converted to "Pay How You Drive" much more massive scale: US insurers began to put it in the early 2000s in the United States before the movement from spreading in the UK, Australia, Japan, Italy or Spain. The trend is general and in the more developed countries, insurance companies are beginning to work with automakers to eventually install such cases even before the factory. So there is a good chance that other French companies to follow suit and Lillian Direct Insurance.
By Navada
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