Pinpoint the ROI of UBI in Order to Accelerate Mass Market Adoption

London, UK (May 8, 2013) – Telematics Update has announced that free registration is now open for the exclusive webinar, “Pinpoint the ROI of UBI in Order to Accelerate Mass Market Adoption.”

Telematics Update have brought together UBI experts from Progressive, Plymouth Rock and Towers Watson for a webinar to explore the financial and service benefits for insurers and consumers that UBI can yield. The free interactive event will be held on Thursday, May 9, 2013 at 11am (EST) and is open to the entire insurance community!

Top auto insurers Progressive, Allstate and Liberty Mutual are already using telematics data to set lower premiums for their consumers. However, there is much more value to be found in telemetry data than lower pricing and a golden portfolio of drivers for insurers. Therefore, Telematics Update’s webinar has come at the ideal moment to explore the best strategies to accelerate the mass adoption of UBI.

Telematics Update Project Director, Justin Parker stated, “Despite exciting growth in the UBI market, the question of how the data is collected through telematics can be best utilised to maximise ROI is still causing much debate.”

He continued, “as more insurance carriers look to enter the UBI market, now possible through the Progressive IP licence, there is a real need to confront the fundamental question of how to create the most value for your organisation through the capture and handling of telematics data to justify the investment.”

To get to grips with these key developments in the business of usage based insurance, Telematics Update has organised a live webinar entitled “Pinpoint the ROI of UBI in Order to Accelerate Mass Market Adoption.”

The 45 minute session will be delivered by three key industry figures:

  • Dave Pratt, General Manager, UBI at Progressive Insurance
  • Frank Palmer, VP, Product Management at Plymouth Rock Assurance
  • Robin Harbage, Director at Towers Watson

The debate will cover:

  • How telematics data can be utilised other than to simply set premiums e.g. identify fraudulent claims and/or improve customer relationships and loyalty for a healthier bottom line;
  • Enhancing the consumer value-proposition through improved claims processes and services such as road side assistance and how to incorporate these into your solution;
  • Implementation options such as making predictions based on short-term data capture Vs. continuous driver monitoring to decide which business model is most cost effective;
  • Progressive’s licensing model and how it will fast track the mass–uptake of UBI, further reducing hardware costs through economies of scale and increasing consumer awareness.

The webinar can be joined for free at Places are limited, so register early.

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Source: Telematics Update