Project Wily Coyote The Roadrunner System Team Develops Low-Cost Telematics Device for Insurance Risk Assessment

Project Wily Coyote The Roadrunner System Team Wily Amer Bukhari, Bosco Lau, Kelvin Chiu, Candy Tang, Derek Leung, Sumi Cheung

Introduction ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Market Observations ,[object Object],[object Object],Source: Office of the Commissioner of Insurance

Market Observations * Transport Dept, HKSAR - Road Traffic Accident Statistics 2008 Risk assessment criteria How relevance to risk? Considered? Driver’s particulars Age Highest risk age group: 20-29 Yes Gender Casualties rate: Male 3.6 per 1000 * Female 1.8 per 1000 * Yes Occupation High risk occupation: Logistics, construction, engineering, security. Yes Claims history NCB (Non-claims bonus) Yes Vehicle’s particulars Make/Model Powerful car vs saloon Yes Price Only applicable for comprehensive insurance Yes Driving attributes Frequency of car usage - Business use vs personal use - Mileage Partial Date/time of car usage accident rate doubles*: 17:00-19:00, Saturdays No Normal average speed >10% fatal accident is due to speeding * No Driving locations Higher risk locations: Yau Tsim Mong, Shatin, Kowloon City * No

Adverse Selection Effect ,[object Object],[object Object],[object Object],[object Object],[object Object]

Fill the Gap ,[object Object],[object Object],✔ ✔

Market Need List / Features ,[object Object],Party Needs Priority Features Insurer Mileage ★★★★★ Odometer / process Geo data Districts covered ★★★★★ Process Geo data Speed ★★ Process Geo data Easy collection ★★★★ Wireless comm. Of data 3 rd party access ★★★★ Common platform Low Cost/Maintenance ★★★★★ Off the shelf component Risky Analysis ★★★ Data processing capability Driver Privacy ★★★★★ Filter/Hide location tracking No need to go to garage ★★★★★ Wireless comm. Of data Cost covers insurance (10%) ★★★★★ Cost benefit Logistics Real time location tracking ★★★★ Location tracking (high accuracy) Car Rental Recovery ★★★★★ Location tracking (on demand) Banks Recovery ★★★★★ Location tracking (on demand)

Scope of Project Scope of Project – Roadrunner System Product Description ,[object Object],[object Object],[object Object],Key Business Goals More profit for insurers, high market transparency, lower cost for low risk drivers Primary Markets Insurance companies, drivers Secondary Markets Commercial sector: Car rental companies Logistics companies with fleet of vehicles Banks Assumption ,[object Object],[object Object],Stakeholders Manufacturers, mobile operators, internet providers, drivers, insurance companies

Product Concepts - Data Collection & Storage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Δ x Δ y (x1,y1) (x2,y2) Δ z Time (X,Y) 10:42.00 110,223 10:42:15 113,225 10:42:30 114,230 … …

Product Concepts - Communication Process ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product Concepts Geo-location vs Privacy Issue – A Solution ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product Concepts - BlackBox ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Product Concepts - Central Server ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Cost breakdown – iPhone Benchmark Source: http://www.isuppli.com/Pages/Home.aspx CPU /Memory Communications Others

Product Cost Analysis ,[object Object]

Product cost analysis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Pricing Model (example) Score Discount <10 30% 11-20 25% 21-30 20% 31-40 10% >40 0%

Summary – Wily Coyote Roadrunner System ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Target Marketing Market 1 - Driving pattern information driven:

Target Marketing Market 2 - Geo-location information driven:

Target Marketing Market 3 - Distance information driven:

Target Marketing Market 4- Speed information driven:

Summary – Wily Coyote (Cont’d) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Project Wily Coyote The Roadrunner System Team Develops Low-Cost Telematics Device for Insurance Risk Assessment

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Project Wily Coyote The Roadrunner System Team Develops Low-Cost Telematics Device for Insurance Risk Assessment

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