Saman Insurance Telematics

Saman Insurance

Ahmad Reza Zarrabieh/Soroush Mosavati

Agenda

• Iran Auto Insurance Market

• Current Concerns in Auto Insurance Market

• New Approach

• Telematics

• Current Solutions

• Data Gathering

Iran Auto Insurance Market

بیمه شخص ثالث و مازاد 1390 1389 1388 1387 عنوان

38.8 24.3 20.1 18.4 (هزار میلیارد ریال) حق بیمه تولیدی

14.9 13.6 12.7 11.9 (میلیون)صادرهتعداد بیمه نامه

26.8 20 17.4 15 (هزار میلیارد ریال) خسارت پرداختی

1359 1389 1151 1471 (هزار)تعداد خسارت پرداختی

بیمه بدنه اتومبیل 1390 1389 1388 1387 عنوان

6.31 5.46 5.45 4.98 (هزار میلیارد ریال) حق بیمه تولیدی

2.5 2.1 2.1 1.4 (میلیون)تعداد بیمه نامه صادره

4.1 3.5 3.1 2.7 (هزار میلیارد ریال)خسارت پرداختی

494 422 291 350 (هزار)تعداد خسارت پرداختی

Current Concerns in Auto Insurance Market

• Customers are unsatisfied

• Unprofitable business

• High price

• Lack of risk control

• Lack of customer segmentation

• Unsafely driving behavior

• Vehicle based policy rather than Driving based policy

• Inequitable pricing structure

All you can drive insurance policy

Encourages

more DRIVING

• Accidents

• Congestion

• Air pollution

• Oil consumption

Yearly Accident Claims by Annual Mileage

New Approach

PAYP: Pay At Your Pump

PAYD: Pay As You Drive

PHYD: Pay How You Drive

Telematics

The integrated use of telecommunications and informatics, for application

in vehicles and with control of vehicles on the move.

Data Gathering

• OBD port plugin device – record data

• GPS

• GSM/GPRS

• RFID

Current Solutions

Full Data Transmission Minimum Data Transmission

Device Technology Evolution

• Early adopters: Hard-wired devices installed in vehicles by professional engineers

• Mid-term: Customer self-install devices via On-Board Diagnostic port (OBD) with

other types of ‘light’ or self-install devices imminent

• End vision: Smartphone or SatNav app/link providing connectivity to

data streamed

End vision

Mid Term Early adopters

NOW

End Vision

2010 2020? 2013

Insurance Telematics Benefits

• Affordable insurance for safe drivers

• Commercial benefits

• Pricing accuracy

• Fraud reduction

• Stolen vehicle recovery

• Improved accident investigation

• Improved customer segmentation

• Potential cost-savings for responsible customers

• Emergency road assistance

• More personal security and vehicle security

Social Benefits (Halo effects)

• Improve driving safety

• Reduction in oil consumption

• Less pollution

• Preventing more car accident death

Current Market

Questions?