Usage-based Insurance basically utilise telematics data provided by policyholders vide some embedded gadgets in the vehicle or home surroundings to help insurers redefine how premiums are being imposed. The manner the vehicle is being driven or how homes are being monitored or even how policyholder handle their daily affairs where Health Insurance is concerned are important for insurers to better understand the risk as it progresses through time. The starting point of acceptance may still be discounting of premium but safety of love ones and health of policyholders are slowly catching on…. Check the INFOGRAPHIC by Tower Watson in one of their US consumer survey on the use of usage-based insurances….
Google already provides auto- and travel-insurance quotes in the U.K., as well as mortgage quotes, and even credit cards. The moves suggest the search giant wants to offer similar services in the U.S., potentially displacing existing middlemen, as it has done in shopping and travel. Google provides its own product-search tools on the Google Shopping website, and increasingly offers specialized flight and hotel booking tools.
Talking about ASEAN and how as a regional hub will help push the Malaysian Insurance industry to a newer height, this is one good article at KNOWLEDGE@WHARTON —- I supposed this makes great reading since contents were tastefully compiled and presented. Hope our readers will enjoy…. The 620 million people living in the Association of Southeast Asian Nations, or ASEAN, are facing some potentially big changes in coming months, given lower oil prices and the formation of a regional economic community.
Detariffication (where both Motor and Fire related insurances are going down the free market path) is not exact a bad word but as the industry probe along, people seem to have differing viewpoints and at time some are wondering why are we so jittery about this…. — the industry is already operating its Marine, Miscellaneous Accident, Liability and Engineering classes without much of a problem. Of course they may had forgotten the combined Motor and Fire contributed some 67% of the overall non-life premium for the country; that’s the very reason why the authority is concerned.
….whatever being the real reason(s), the locals and the foreign lieutenants must learn how best to work efficiently and effectively towards achieving established common goals – it is pathetic when those foreign lieutenants don’t articulate well the strategic and tactical direction for the company, and through it all, consultants after consultants are being engaged to carry out projects after projects that may at the end of the day doesn’t add up….
“I hate the way people use slide presentations instead of thinking,” Steve Jobs told Isaacson. “People would confront a problem by creating a presentation. I wanted them to engage, to hash things out at the table, rather than show a bunch of slides. People who know what they’re talking about don’t need PowerPoint.”
CAR makers are taking the connected car seriously if examples at the ongoing Paris Motor Show is anything to go by..
From Peugeot to Volvo, new cars come with touch-screens, computers, telematics, sensors, and internet connectivity.
For supporters of connected cars – among them mobile operators and technology companies such as Google and Apple – the future cannot come soon enough.
However, the lifespan of automobiles, unlike mobile phones, is measured in decades, not months. No amount of fancy gadgetry will convince someone who has a new car to upgrade in a hurry.
Most cars on the road today are fitted with an on-board diagnostics, OBD II port, which can spit out a wealth of information about the car’s performance, including distance driven. Plug in a third-party device and it can harvest all that information.
“We are so risk adverse that we are requiring levels of capital that are probably beyond what is sensible, and intrusive supervision which I think is not really sustainable,” he added. There has been a very sharp swing of the pendulum post-global financial crisis for the financial system as a whole, he said.