7th International Conference
11th December, 2019, Moscow
Holiday Inn Moscow Sokolniki
What is the modern market of insurance telematics and smart insurance in Russia and overseas? What innovate technologies are already used and will develop in the years ahead, what services can secure profits on the insurance telematics market? Who needs insurance telematics, and how effective are technologies for service end-users? What is the future of insuring unmanned cars and Car Sharing service, new opportunities of insurance telematics using V2I (Vehicle to Infrastructure) technology and many other topics will be discussed by leading market experts at the International Conference “Smart Insurance”, which will take place in Moscow at the end of February.
J'son & PartnersConsulting predicts the market’s boom. According their forecast, by 2020 the total value of smart insurance market in Russia will be around 3.3 mln smart policies and the penetration level of smart auto insurance will reach 52%.
“In all developed and actively developing countries of North America and Europe over 13 mln. Drivers use insurance telematics. The American market almost entirely shifted or is close to shifting to technologies using smartphones in telematics systems. Europe, on the contrary, actively uses on-board devices. But, in any case, the penetration into the general auto insurance portfolio overseas in on the high level and is over 10%,” Alexei Kasatkin, Commercial Director of R-Telematica, comments. “At the beginning of 20017 12 Russian insurance companies have policies with telematics in their portfolios. Another 6 insurance companies are in search for solutions and model of applying technologies. According to different estimates, the number of ‘Smart KASKO’ agreements made is 35-55 thous. pieces. In spite of zero dynamics in 2016, the ‘reviving’ KASKO market and appearing of innovative, low-cost technologies give the opportunity to forecast over 100% sales growth of ‘Smart KASKO’ policies in 2017-2018”.
A couple of years ago a number of Russian insurance companies, among which are Intouch and AlfaStrakhovanie, launched successful pilot projects on smart insurance. In particular, they started installing navigation and communication equipment to collect data about insurant driving styles in exchange for discounts and bonuses. For instance, in AlfaStrakhovanie ‘Very Smart KASKO’ service the drivers, following accurate driving requirements, receive up to 55% discount on ‘AlfaBusiness’ KASKO policy. Car driving parameters are tracked by telematics devices installed in a vehicle free of charge. The owners of under-7-years-old foreign cars can join the new program. Intouch offers ‘Smart Insurance’ service, in which the careful and accurate motorists obeying traffic regulations have an opportunity to save up to 20% on KASKO policy cost.
As experience has shown, the services are in demand among motorists. And the market is expected to grow rapidly over the next several years. For instance, the Development Director, T-One Group JSC, Igor Kheresh points out that the market is absolutely perspective, as more than ever people want to save money, including on motor insurance types. “The insurance telematics helps us in it, as with its help we can significantly cut our expenses for automobile insurance. Furthermore, at the end of pilot projects it became obvious that the fraud level could be significantly decreased thanks to insurance telematics technologies, and this one of the most important arguments in favor of telematics. The result is that the insurance companies make profits on fraud reduction. The service users save money on expense for policy purchase, receiving discounts for their good driving. The state reduces the number of people killed or injured in road traffic accidents. The only thing left for an insurance company is to choose a qualitative operator, whose data will be always valid and trustworthy,” he says.
Now there are different insurance telematics products and services partially available on the market and actively developing. For example, Europrotocol services, RTA detection and reconstruction, mile-based auto Insurance, Pay-as-you-Drive, Pay-How-You-Drive, Manage-How-You-Drive are popular. In Europe Pay-As-You-Drive has been working since 2002. And in the USA it is in common use. A driver, ‘being watched’, becomes more accurate. The vehicle telematics has many other useful functions: satellite alarm system, or, for example, emergency service informing, remote diagnostics, location monitoring and others.
Alexei Smyatskih, CEO of SpaceTeam Navigation Holding, thinks that the smart insurance market development can be additionally stimulated with the use of commercial services based on GAIS ERA-GLONASS emergency service call devices, which have to be mandatory installed into all new cars starting 2017. And this is minimum 1.5 mln. equipped cars a year. “An ERA-GLONASS device has all necessary components to implement the ‘smart’ insurance functional. The only issue is to set equipment and to organize an relevant infrastructure of receiving and processing data from vehicles,” Smyatskih explains.
Pavel Bunin, Director of Services Development on Insurance, Leasing and Financial Markets, GLONASS JSC, forecasts the total growth in the market on 5-10% in 2017 and thinks that in the years ahead the telematics will command a significant part in retail insurance. He thinks that the main market tendency is a combination of different functions in one device, for example, functions of emergency service call device, on-board insurance telematics device, concierge-service and other services.
Along with that the market experts think that the mass introduction of services is stopped by legislation and jurisprudence imperfection, absence of a single complex approach, weak client loyalty and trust to new technologies.
For today the essential task of ‘Smart Insurance’ in Russia is to bring the market to unified standards. It includes creating a single database of drivers, unifying scoring parameters, choosing interesting business-models and many other things. The goal of the forthcoming conference is to discuss important issues and proposals for the successful and wide-scale introduction of ‘smart’ insurance services in Russia.
According to Yuliya Morozova, Development Director of ProfConference, an official conference operator, the ‘smart insurance’ market in Russia is successfully developing today. At the end of four passed annual conferences “Smart Insurance” there is a clear tendency of the market development traced from creating ideas and launching pilot projects to introducing and popularizing insurance telematics services.
The conference will be attended by Russian insurance companies providing or considering providing smart insurance services; foreign players of the insurance market; automobile manufacturers and auto dealers using, in the partnership with insurance companies, these services while selling their products; developers and manufacturers of telematics equipment designed for technical support to smart insurance services provision; developers of software for providing smart insurance services, system integrators, mobile apps developers; experts in the field of auto insurance, including insurance legislation; developers and providers of system solutions and equipment in the field of IoT and connected car technologies.
To learn more about the forthcoming conference, please visit the website: умноестрахование.рф
The conference organizer: ProfConferences
ProfConferences has been creating and successfully conducting business events of the international level, providing congress services and organizing mater-classes by world experts and gurus already for 16 years. The company portfolio contains the largest events in the field of high technologies and innovative development, among which there are the International Navigation Forum, Microelectronics Forum, ERA-GLONASS Congress, Smart Insurance Conference and others.
The organizer’s phone: + 7 (495) 641-57-17
09:00 – 10:00Registration of participants
10:00 – 11:30 Plenary Session: How InsurTech Changes the Auto Insurance Market
11:00 – 12:00Coffee-break
12:00 – 15:30OSAGO liberalization as a consequence of the industry’s crisis
13:00 – 13:45Lunch
GLONASS/GNSS Forum Association
The GLONASS/GNSS Forum Association unites more than 50 key Russian companies and organisations engaged in GLONASS designers, manufacturers of satellite equipment and applications. GLONASS/GNSS Forum Association coordinates the activites of various categories of company and organisation engaged in design production and commercial use of GLONASS-based equipment and applications.
The Russian Association of Motor Insurers (RAMI)
The Russian Association of Motor Insurers (RAMI) is a non-profit organisation that is a consolidated all-Russian professional association founded on the principle of compulsory membership of insurers that exercise obligatory liability insurance of motor vehicle owners. It acts in order to provide interaction of its affiliates and establishment of professional rules of conduct in the implementation of compulsory insurance.
The Non-Commercial Partnership for Promoting and Using Navigation Technologies (NP GLONASS) is a federal navigation network operator.
The Partnership was established on May 21, 2012 to develop and introduce GLONASS-based products and services in Russia and oversees. The Partnership incorporates the leaders of telecommunication, information and navigation markets of Russia, leading automakers: Yandex, LLC; MTS, PJSC; VimpelCom, PJSC; MegaFon, PJSC; Rostelecom, PJSC; GLONASS/GNSS-Forum; Information and Navigation Systems, PJSC; T-One Group, JSC; KAMAZ, PJSC and JSC Progress MRI.
ADS-Soft company was established in 2007. During the implementation of the first projects, the backbone of the team was formed, which still works for the company. In the following years, despite the fact that projects were implemented in many industries (telecom, media, manufacturing and transport enterprises), insurance remained one of the priority areas of activity. The accumulated experience gained in more than a hundred projects implemented in insurance companies and insurance brokers, allowed to release a line of products covering all the main business processes of insurance business entities.
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