Telematics Analyzer’s enhancements create an end-to-end solution for insurers of all sizes that are either offering or considering a usage-based insurance program
Toronto, ON (Sept. 3, 2015) – Insurers seeking an end-to-end, usage-based insurance solution are challenged to find a technology partner that can put the insurer in control of the many layers of data and business process complexities that impact a UBI go-to-market strategy.
msg global solutions, a Swiss-based provider of integrated software and services to the insurance, reinsurance, and financial services industries, is pleased to announce that its Telematics Analyzer product, a software solution that enables efficient and secure data collection, analysis and scoring of telematics-based driving data, can now integrate with any back-end system, including the SAP FS-PM policy management system and msg.PIA, msg global’s insurance package for smaller insurance organizations.
These integration points confirm that the insurer can independently control the strategic development and launch of its UBI products, including related policy, contract, and coverage information that facilitates enhanced, customized policyholder interactions.
In development since 2013, tested with a leading European insurer and available now, Telematics Analyzer offers insurers a flexible way to collect data from a variety of sources and conduct in-house, detailed analyses and telematics-based scoring calculations. The product’s scoring engine gives actuaries the ability to develop bespoke telematics-based scoring programs to create reliable and flexible scoring models and individual usage-based rating models. At the front end, Telematics Analyzer provides access and transparency to policyholders who want to understand how their score has affected their policy.
The only available standard telematics software that can be implemented within any insurance IT landscape, Telematics Analyzer can be used with a variety of telematics hardware and software providers.
“In North America, the offering of a device- and platform- agnostic UBI solution is especially significant,” says Patrick Miller, msg global’s managing general director, Primary Insurance. “Telematics Analyzer can be used with common databases and computer systems, making it ideal for the unique requirements of small, midsize and large insurers.”
When used with msg global solutions’ MyMile mobile app solution – the first mobile telematics solution to use iBeacon technology to enable mobile devices to understand their position on a micro-local scale – Telematics Analyzer can deliver hyper-contextual content based on location.
An additional layer of granularity is provided through msg global solutions’ partnership with HERE, a Nokia company and the leader in navigation, mapping and location experiences, ensuring that the geo-based data collected by Telematics Analyzer is accurate and dependable. The insights derived from the data offer insurers the opportunity to efficiently drive customer interaction and engagement.
“Telematics Analyzer’s integration with front and back-end systems offers insurers even more command over their UBI destiny, giving them control over their UBI product’s performance, as well as all aspects of policyholder management and interaction,” says Sven Roehl, msg global solutions’ Managing Director of Telematics and Country Leader for the UK.
Telematics Analyzer can run on the SAP HANA Cloud platform, creating further opportunities for an insurer to effectively compete. And insurers that want to run the solution as a pilot project can gain immediate telematics experience using Telematics Analyzer as a service, offered by msg global solutions.
The solution is available to auto insurers, rental car companies, leasing companies, telematics service providers, telecommunication providers and telematics hardware providers.
About msg global solutions
msg global solutions is a product-based systems integrator that serves insurers and reinsurers in all lines of business, in all regions of the world. Our expert teams employ a complete selection of consulting services and software products to help large and mid-size clients succeed with a range of business and IT strategies, including digital transformation.
msg global solutions is part of msg group, an independent, international group of companies with autonomous regional companies and subsidiaries and well over 5,000 employees worldwide. msg offers a holistic spectrum of creative, strategic consulting and intelligent, sustainable and value-added IT solutions, and has acquired an excellent reputation as an industry specialist during its more than 35 years in business. msg holds sixth place in the ranking of IT consulting and system integration companies in Germany.
Source: msg global solutions