connected vehicles: a boon to insurers?

9
Reach out and touch the future: Accenture connected vehicle solutions

Upload: accenture-insurance

Post on 22-Jun-2015

500 views

Category:

Economy & Finance


2 download

DESCRIPTION

Connected vehicles may incent insurers to work with the sharing economy. Accenture’s Michael Costonis examines the impact of connected cars on insurers.

TRANSCRIPT

Page 1: Connected vehicles: A boon to insurers?

Reach out and touch the future: Accenture connected vehicle solutions

Page 2: Connected vehicles: A boon to insurers?

Drivers and passengers increasingly expect access to connected services in their vehicles. The connected vehicle space is a fast-growing market and a strategic priority for the Automotive Industry. At the same time, the diagnostics data that these systems generate can provide OEMs with the insights they need to enhance services in areas such as CRM/marketing, quality, customer services, after sales and R&D.

Accenture conducted a global survey of 14,195 consumers across 12 countries to find out what consumers want and how can OEMs fulfill those demands.

China France Italy

Malaysia South Korea

US

Brazil Germany

Spain UK Indonesia South Africa

To know more, visit www.accenture.com/connectedvehicle

Page 3: Connected vehicles: A boon to insurers?

23+29+30+18+L 18+30+29+23+L37+26+22+15+L 11+27+32+30+L

Traffic Information

Speed Camera

Car Park Spaces

Weather Information

In-Car Search, POI

How important is it for you to have the following Connected Navigation Services on your car?

How important is it for you to have the following Infotainment Services in your car? (Services that deliver in vehicle real time information services such as web radio or video news through the IVI and access to entertainment content like music, gaming and social networks)

18%

30%29%

23%

ProductivityEducational(eLearning)

Entertainment(internet, music, gaming)

Information (news, stocks and sport)

11%

27%

32%

30% 37%

26%

22%

14% 37%

24%

21%

19%

■ Already using ■ Very likely to start using ■ Will consider for future usage ■ Not using, nor interested

■ Already using ■ Very likely to start using ■ Will consider for future usage ■ Not using, nor interested

140+300+300+260=

140+250+250+360=

130+340+340+190=

150+290+300+260=

14%30%30%26%

14%25%25%36%

13%34%34%19%

15%29%30%26%

60+210+240+500=

6%24%50% 21%

Page 4: Connected vehicles: A boon to insurers?

21+39+32+812+36+39+1311+28+31+30

How important is it for you to have the following Convenience Services in your car? (By Convenience services we mean services that allow drivers to activate commands remotely or reduce insurance costs using data on drivers behaviour)

11% 30%

31%28%

Remote Services Vehicle Health reportVehicle Lifecycle

ManagementSecond Used Car report

12+36+39+13 12% 13%

39%36%

13% 12%

37%37%

21% 8%

32%39%

Which of the following payment models or methods would you prefer to pay for connected services in your car?

Monthly fee charged over credit card or paypal

Upfront payment in the car price

Free basic services subject to in-car advertising

Single purchase for a predefined period

Payment with partner bonus tools

28%

26%

25%

13%

8%

■ Already using ■ Very likely to start using ■ Will consider for future usage ■ Not using, nor interested

Page 5: Connected vehicles: A boon to insurers?

Which of the following is your priority style for Services Usage while driving?

Which model/size of car do you drive most often?

Middle/ Intermediate Car Compact Car

Large Intermediate/ Upper Class Car

Mini/Small Car

Sports Utility Vehicle (SUV)

Luxury Car

Vans

Use in-vehicle functions only as meant for better driver Use my

smartphone/tablet with full access

I value personalized & consistent usage of connectivity

36%51%

13%

37% 29% 11% 11%

8% 2% 2%

Page 6: Connected vehicles: A boon to insurers?

Indicate whether you are using or interested in using the below technologies:

■ Use ■ Would like to use ■ Not interested in it

14+57+29+L29% 17+63+20+L38+51+11+LSurfing the

Internet via a monitor in the car

In-car feature enabling the ability to read and dictate Emails while driving

Operate a smartphone using controls on the steering wheel while

drivingStreaming music

9+56+35+L14%

57%

29% 9%

56%

35% 17%

63%

20% 38%

51%

11%

Indicate whether you are using or interested in using the below technologies that support drivers while driving/parking their cars:

9+77+149%

77%

14%

Automated breakdown call- a call made automatically

19+73+819%

73%

8%

High quality navigation solutions

17+78+517%

78%

5%

Stolen vehicle recovery tracker

8+81+118%

81%

11%

eCall9+60+319%

59%

31%

Car-to-car communication

20+75+520%

75%

4%

Car identifies traffic signals, congestion, etc.

14+71+1514%

71%

15%

Full automatic parking assist system

7+85+87%

85%

8%

A system that stops the car automatically

9+78+139%

78%

13%

The car stops if a barrier is too close

12+78+1012%

78%

10%

Car parking space detection system

10+68+2210%

68%

23%

Insurance black box

■ Use ■ Would like to use ■ Not interested in it

Page 7: Connected vehicles: A boon to insurers?

11+50+26+9+4

Which of the information technologies/driving support systems listed below would you like to use in your car?

Lane changing warning systems/blind spot warning system

Front/rear end collision alarm warning

72%

Night Vision Device67%

62%

45%46%

53%Fatigue warning device

Autopilot

54%In-car video camera to record accident incidents

Lane-keeping system

11%

50%26%

9%4%

Using a scale of 5 essential down to 1 not at all important, how important is it for your car to have the same operating system in the dashboard as compared to your devices?

■ Essential ■ Important ■ Neither important nor unimportant

■ Fairly unimportant ■ Not at all important

Page 8: Connected vehicles: A boon to insurers?

Which of the following services do you think is important for your passengers (partner, children etc) to have access to in the car?

On a scale from 1 to 10 (10 meaning that in-car technology has the greatest influence over the car purchase decision and 1 meaning that the car’s driving performance has the greatest impact on the car purchase decision), what score would you assign for your view?

Streaming music for in-car use

Surfing the Internet via a monitor in the car

Car identifies traffic signals, congestion, accidents, delays,warning the passenger in advance of such situations

A system that allows the passenger to stop the car if, for example, the driver suffers a heart attack

Front/rear end collision alarm warning

Night vision device

Fatigue Warning device

Access to social media while in the car

Lane changing warning systems/Blind spot warning system

In-car feature enabling the ability to read and dictate E-Mails

Car-to-car communication

Lane-keeping system

Autopilot

69%

57%

52%

51%

45%

42%

41%

40%

36%

34%

30%

29%

25%

The cars driving performance has the

greatest impact

The in-car technology has the greatest

influence

1 2 3 4 5 6 7 8 9 10

3%12% 15%

4%

20%

7% 7% 12% 7%12%

Page 9: Connected vehicles: A boon to insurers?

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with approximately 281,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.

Copyright © 2014 Accenture All rights reserved.

Accenture, its logo, and High Performance Delivered are trademarks of Accenture.