More Related Content Similar to Building the Next Generation IoT & Telematics Platform (20) More from Cloudera, Inc. (20) Building the Next Generation IoT & Telematics Platform1. 1© Cloudera, Inc. All rights reserved.
Building the Next Generation IoT &
Telematics Platform
WEBINAR
2. 2© Cloudera, Inc. All rights reserved.
Your Speakers for Today…
Jonathan Hewett
Chief Marketing Officer
Charles Juniper
Principal Analyst
3. 3© Cloudera, Inc. All rights reserved.
Connected Car
Insurance Solution of
the Year
Winner – IoT Breakthrough Awards - 2018
4. Ovum | TMT intelligence | informa4 Copyright © Informa PLC
Today’s Insurance Proposition
‘Bucket’ & Opaque Pricing
Multiple Policies
Annual Renewal
Disconnected From Insured Items
Infrequent Communication
Inefficient Claims
‘Pay to clear up the mess !!’
The IoT-Based Insurance Proposition
Insurance as a Utility
Pre-emptive Risk Management
Value-Added Dialogue
Automated Claims
‘Avoid the mess in the first place’
The emerging IoT insurance proposition
5. Ovum | TMT intelligence | informa5 Copyright © Informa PLC
25%
40%
23%
12%
38%
26% 25%
10%
Transform the
industry
Significantly
change the
industry
Some change Very little
change
Transform the
industry
Significantly
change the
industry
Some change Very little
change
Two thirds of senior insurance executives believe IoT will significantly change the industry
in the next three years.
Mature markets Emerging markets
‘What do you believe the impact of IoT, telematics or wearable sensors will be on the insurance industry in the
next three years?
n = 474 insurance senior executives (September 2017)
6. Ovum | TMT intelligence | informa6 Copyright © Informa PLC
IoT is changing the competitive dynamics of the insurance industry
8%
10%
10%
13%
13%
14%
17%
18%
33%
25%
27%
22%
31%
37%
35%
39%
InsurTechs
Utilities
Telco
Security Co's
Vehicle Manf.
Other FSI's
GAFA*
Other insurers
Major Competitive Threat
Competitive Threat
* GAFA: Google, Amazon, Facebook & Apple
‘What level of competitive threat do the following types of organization present to your company when it comes to
offering IoT, telematics or wearables-based insurance products?’
n = 474 insurance senior executives (September 2017)
7. Ovum | TMT intelligence | informa7 Copyright © Informa PLC
25%
22%
25%
20%
21% 21% 21%
18%
20%
19%
Insurers face a broad set of challenges when implementing IoT insurance offerings
‘What are the most significant challenges preventing your organization implementing IoT-based insurance offerings?’
>$5Bn DWP <$5Bn DWP
n = 474 insurance senior executives (September 2017)
Overall complexity Ensuring data security Ensuring compliance Obtaining meaningful
insight from IoT data
Data collection
8. 8Octo Telematics |© 2018|Confidential 8Octo Telematics |© 2018|Confidential
Octo in Numbers
Note: As of 31 December 2017. Estimated market data from Ptolemus Consulting Group; total addressable market data relates to a study commissioned by us.
The world’s leading insurance telematics provider
#1
Globally
40%
Market Share
$33bn
User-Based Insurance TAM
5,4 Mln
Connected Users
25%
Growth in Connected
Users y-o-y
>100
Industry Partners
15 years
Operating History
186bn
Miles of Driving Data
438k
Crashes Analyzed
9. 9Octo Telematics |© 2018|Confidential 9Octo Telematics |© 2018|Confidential
What we do
Collecting over 2,000 parameter
combinations
Road Type
Distance
Collision
Direction
Location
Cornering
Braking
Duration
Comprehensive set of real-time
driving data from connected cars…
Data collection
Software, data and analytics
• Raw data is processed into
actionable intelligence
• Risk correlation and actuarial
capabilities support industry
leading driver scoring models and
pricing algorithms
…feeding into a proprietary
analytics platform…
Advanced analytics
Insurance Solutions
Claim
Management
Crash
Reconstruction
Pricing
Services
Emergency
Call
Stolen Vehicle
Recovery
Risk
Assessment
Digital
Solutions
…transforming auto insurance with
our telematics solutions…
Insights for insurance companies
CONTINUOUS INNOVATION
11. 11Octo Telematics |© 2018|Confidential 11Octo Telematics |© 2018|Confidential
NGP is the combination of unique advance analytics and best of breed of insurance experience…
• Pooled data including claims and
policy
• Second by second approach
• Driveability score filed in 39 US
States
Typical Approach Our Approach
DriveAbility Score & Components
Billions of miles
of granular
telematics data
External
data
Claim and
policy
data
Predictive analytics
?
Crash
• Analytics 3D risk model
• Using crash as target variable
• Covering Insurance life cycle policy
• Innovative ML techniques
• High level of granularity and prediction
• Performed across OBU and Smartphone
data providing feed back tips
Behaviours
Habits
Context
Scoring Algorithm
ROC max
ROC cf
ROC NSTAR
ROC FFT
Crash Roc Curve
Possible optimal workingpoint at TPR=
93%, FPR= 7%, all filters cooperating
FPRreduction after the introduction of the
optimal combiner logic.
Claims
1. Crash confirmation with 1MM of analysed events;
2. 10Kof Claims Data used to train the model.
NGP 1.O NGP 2.0
12. 12Octo Telematics |© 2018|Confidential 12Octo Telematics |© 2018|Confidential
..and is game-changing along the insurer’s entire value chain
Technical pricing
Policy
underwriting
Portfolio
management
Claims
management
Reserving Risk management
Disruptiveinnovationdegree
Consolidated
market
practice/
established
use cases
Assessing claims
settlement based on
accident dynamics
data
Implementing driver’s
score-based portfolio
pruning
Reducing variability in the best estimate
liabilities/SCR by enhanced prediction of
ultimate claims cost
Enhancing
current
business
model
Suggesting best
product to buy based
on driver’s habits (e.g.,
deductibles, additional
benefits)
Enhancing motor
technical pricing
(incl. severity)
Consulting
support
Portfolio
optimization
Enabling new
profit levers
Feedback to
drivers
Effective reward
programs
Innovative products:
• Pay per use
• Real time risk score based
New business
opportunities
based on
carrier data
Forecasting claim size
Driver
identification/Distr
acted Driving
13. 13Octo Telematics |© 2018|Confidential 13Octo Telematics |© 2018|Confidential
Platform architecture
Partner ecosystem
End User Insurance Partner Long-term
Rental Partner
Universities
& Research
Dealer / Installer Service Control
Room
Outsourced
Logistics
Auto OEM
User Interface Marketing, Sales,
Contact, Services
API Gateway
ERP
System
3rd Party Device
Service Orchestrator
Telematics Platform
Data Streaming & Service
Inventory
Octo Device
Telematics Data Store
Geospatial System
Analytics Engine
Telematic Device Management
3rd Party Device
Other Vertical
Devices (Home, etc.)
IoTHub
Digital CRM
14. 14Octo Telematics |© 2018|Confidential 14Octo Telematics |© 2018|Confidential
The platform at the end of migration
Octo’s platform overview – platform evolution and migration
Customers
Mobile Apps
Insurance
Companies
IoT
Devices
API Portal
Developer Portal
API Lifecycle
FORCE
Product Catalogue
Security & Assistance
Customer Contract &
Order
Call Center & Trouble
Ticketing
SMS/Mail
End-User contract &
order
Field services
Community Cloud
End Users & Operations
Mgmt
Invoice & Billing
Data View
End User Control Mgmt
Scoring Data View
Device & Service
Data View
Report & Dash-
boards
Ticket & Claim
API Gateway
On line integration
MFT
Batch integration
ESB BAM
Integration Platform
BPM
IoT Hub
SM
S
UD
P
MQT
T
HTP
MultiProtocolMgmt
Security
Telematic platform mgmt
Device Management
Technical Service Catalogue
Device & Service Inventory
Telematic data
Telematic Data Store
Data Lake
Business Analysis
Scoring & Risk index
Billing
Logistic
Customer & service data Service KPI
DWH
Telematic Platform Engine
Crash & Claims SVR
Trip points Eco Driving
OtherGIS Traffic Meteo
Octo Algorithm Pattern Identification Real Time Analysis
Data Streaming Event Management
CEP
15. 15Octo Telematics |© 2018|Confidential
As an IoT Platform, NGP enables cross vertical integration
IoT Platform moves focus from product view to the customer view (multi-vertical)
Cross-Vertical use cases enabled to have an enhanced customer engagement for risk profiling
and event management (Crash, home alert etc…)
16. 16Octo Telematics |© 2018|Confidential
Delivering Business Impacts from NGP
186
Billion Miles
World’s Largest
Insurance Telematics
Database
11
Billion Data
Points/ Day
50%
Reduction in Time
to launch UBI
5.4
Million
Connected Cars
New
Product
Capabilities
17. 17Octo Telematics |© 2018|Confidential 17Octo Telematics |© 2018|Confidential
NGP Unique Relevance to Support Business Value from Telematics
Flexible to integrate new insurance verticals
IoT Platform opens to integrate 3rd party
sensors
Multi-vertical and enable to correlate events from
different vertical to build a unique customer
experience
Time to deliver
Platform Configuration - Easy to configure
new telematics offer by leveraging on service
catalogue and orchestration of provisioning
process
Enhanced and managed customer experience
Ease-to-integrate with customer’s IT system
Data availability and relevance
Granular data in near real-time
Large spectrum of sampling rate for
position and driving behaviour events
Improved business outcomes
Availability of scoring algorithms based on
extended data base
High performance and enriched data for improving
crash management
Fast prototyping of new services and open
architecture for ecosystem
Development Environment for customer or
other SI engaged for designing new
services on NGP
18. 18© Cloudera, Inc. All rights reserved.
To learn More…
Download the Ovum Case Study:
Building Flexible and Scalable Data
Platforms
How Octo Telematics implemented a next-
generation IoT and telematics platform
https://www.cloudera.com/content/dam/www/marketing/resources/case-studies/ovum-cloudera-
case-study.pdf.landing.html