By Paolo Ravicchio Head of Business Unit Insurtech VIASAT
It is expected that by 2025 70% of the fleet of cars circulating on European roads will be ‘connected’; this means that cars will be equipped with telematic tools capable of establishing a communication channel with the outside world (Autopromotec Observatory based on Roland Berger information). Today, it is already possible to collect, rework and use a significant part of the information deriving from electronic components and sensors on board and – supported by adequate datamanagement- create new, added-value services and offer. The insurance industry in our country has been, of course, involved into this process: new technologies and the vast wealth of information have been canalized towards a new insurance policy model whose paradigm created a revolution in the traditional customer-company relationship and resulted in major social benefits. In addition to the specific advantages for insurance companies and drivers -deriving from the positive effects of monitoring behaviour, habits and driving style- the amount of data generated by millions of circulating Black Boxes creates added value for the community, such as the percentage of risk of a journey, or pothole and high risk crossroad and routes mapping. If properly exploited and shared with the entire ecosystem, such an heritage could become a flagship tool to enhance personal safety and improve mobility. In short, thanks to the IoT, insurance companies could also entirely regain their social function. With the help of IoT, insurance companies could finally re-appropriate their social function. To optimally pursue these objectives and to ensure access to these new innovative tools and opportunities to the whole market, Viasat proposes its new, “independent” initiative: Sicuri & Protetti (Safe and Secured). Our integrated, modular and highly innovative offer of telematic services represents an alternative to the traditional Black Box models; specifically targeted at insurance intermediaries and, in particular, at satellite technology promoters, it ensures prevention, protection, assistance, intelligent mobility thus combining, anticipating and strengthening the compensation function of a standard insurance policy. Agents and insurance brokers will not be bound to standard, traditional and “static” products; the industry will have the opportunity to combine the benefits of insurance coverage with telematic services, thus enhancing the quality of its professional service and offering tailor-made solutions to its customers. Insurance and telematics companies, intermediaries, providers and drivers will have access to a new, different way to collaborate with each other according to incoming consumers needs and market conditions, in full respect of ethical and collective interests. Technology is ready, and it is just waiting for us.