|By Kevin Benedict||
|May 5, 2014 09:00 AM EDT||
Data ownership and privacy are two big issues that we all need to be thinking about these days. Mobile, telematics and IoT technologies have reached the point that it is very easy and cost effective to track the location of just about anything. What personal information are you willing to give up in order to get a better insurance rate? We are seeing more business models these days based upon personal data and tracked activities and locations which should be giving each of us a sense of urgency to think through these issues.
A couple of weeks ago, Quindell and RAC in the UK announced that it has launched a £100m scheme for black boxes to be installed in cars. RAC aims to sell these telematics tracking devices to its 2.5 million members in order to help safe drivers reduce their premiums, plus the opportunity to drive additional revenue by monetizing the data (using the Code Halos).
I am not too sure that this strategy is something that most drivers will buy into for the following reasons:
- It does not really offer the customer a substantial benefit that is quantifiable. If the customer realizes that this approach will only save them a nominal cost it is unlikely to motivate them to pay for the device to drive the premium down by just £100 or there about.
- I never automatically renew my motor insurance with the same company, as I am always searching for the best deal when my policy is about to end. In general, car policy buyers are becoming more informed to make sure they do not renew their insurance without shopping around for the best deals.
Today the conversation around privacy is a very sensitive issue, and RAC may find out that the desire to lower premiums may be trumped by the need for privacy. For example we already know that the probability of having an accident during the night is higher than during the daytime. If as an individual I do more driving in the night than in the day, why would I have a box installed in my car when it will drive up my premiums in the long run?
There is also the issue of driver's location being monitored, and the law enforcement asking to give up data on an individual's whereabouts. These are decisions that will weigh heavily on the mind of customers as to whether or not they should have these boxes installed.
At the beginning of the year at the annual Consumer Electronics Show (CES) in Las Vegas, Ford marketing head Jim Farley sparked a fury among privacy advocates when he said during a panel discussion, "We know everyone who breaks the law, we know when you're doing it". He went on to say "We have GPS in your car, so we know what you're doing. By the way, we don't supply that data to anyone."
The alternative approach should be that the customers choose to install the black box themselves and choose which data they want to share with their insurance company. The more data they are willing to share the higher the possibility for lower premiums, this with the option to no longer share that data at any time they wish, will make for a good proposition.
This is the whole idea behind the concept of the quantified-self. The individual is in charge of their data and they choose what part of that entire dataset they want to share or to withhold. This is why I see the RAC/Quindell initiative as a high-risk strategy that might not yield the returns that it is hoping for.
While the idea of giving holders of health or life policies heart rate monitors sounds like a ludicrous idea, on the other hand the idea of giving policy holders the opportunity to upload data to indicate that they have a consistent active lifestyle and not at risk of a serious health issue or sudden death might encourage some policy holders to share this data because they like what they have achieved to reduce any of the aforementioned risks and would like to be rewarded for it.
It is important to note that for some policyholders, the reward has to be seen as substantial, otherwise it may not be enough for them to want to participate. This is where gamification comes into its own and where web portals like MapMyRun andTraining Peaks would begin to benefit from helping to develop the concept of the quantified self.
In using gamification to create excitement, there also has to be rewards for consistent performance. Independent portals for driving behavior where car drivers can show off their good driving skills may give insurers the opportunity to reward good driving not just in terms of lower premiums but rewards through gamification. These rewards will go to individuals whether they hold the sponsors policy or not.
According to a USA Today editorial, it was reported that 94% of all new cars manufactured today have black boxes. If that is the case, then car companies need to begin open up that data source such that it is easy for the owners to monitor and manage their own data, which can in turn be provided to the insurer should they desire to do so. This will cause initiatives like RAC/Quindell to review its strategy, as it will eliminate what is already considered a very fragmented market in terms of device and data interoperability.
This should be the approach that RAC and Quindell considers without locking the customer into a black box that would no longer be useful should the policyholder decide to change insurer. Hence, it makes sense that insurers do not reinvent the wheel but seek to partner with car manufacturers so that car owners can access that data that insurers need to reward what is considered good behavior on the roads.
1. USA Today. January 15, 2014. - Is your car's black box the next privacy battlefield?
Peter Abatan is a project manager and a team member of Studio13, which provides product and service design to a wide variety of Cognizant's customers.
Kevin Benedict Writer, Speaker, Editor Senior Analyst, Digital Transformation, EBA, Center for the Future of Work Cognizant View my profile on LinkedIn Learn about mobile strategies at MobileEnterpriseStrategies.com Follow me on Twitter @krbenedict Browse the Mobile Solution Directory Join the Linkedin Group Strategic Enterprise Mobility Join the Google+ Community Mobile Enterprise Strategies Recommended Strategy Book Code Halos Recommended iPad App Code Halos for iPads
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 26, 2016 01:30 PM EDT Reads: 3,401
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addres...
Aug. 26, 2016 01:00 PM EDT Reads: 1,957
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 26, 2016 12:30 PM EDT Reads: 610
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
Aug. 26, 2016 12:00 PM EDT Reads: 1,896
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 26, 2016 11:45 AM EDT Reads: 642
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Aug. 26, 2016 11:45 AM EDT Reads: 574
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 26, 2016 11:30 AM EDT Reads: 553
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 26, 2016 11:20 AM EDT Reads: 310
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
Aug. 26, 2016 11:15 AM EDT Reads: 1,862
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Aug. 26, 2016 10:45 AM EDT Reads: 522
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 26, 2016 10:30 AM EDT Reads: 1,576
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 26, 2016 10:15 AM EDT Reads: 3,573
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 26, 2016 09:45 AM EDT Reads: 1,823
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 26, 2016 09:45 AM EDT Reads: 349
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Aug. 26, 2016 09:00 AM EDT Reads: 2,228
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Aug. 26, 2016 07:00 AM EDT Reads: 3,914
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 26, 2016 05:00 AM EDT Reads: 3,033
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Aug. 26, 2016 02:15 AM EDT Reads: 1,965
With so much going on in this space you could be forgiven for thinking you were always working with yesterday’s technologies. So much change, so quickly. What do you do if you have to build a solution from the ground up that is expected to live in the field for at least 5-10 years? This is the challenge we faced when we looked to refresh our existing 10-year-old custom hardware stack to measure the fullness of trash cans and compactors.
Aug. 26, 2016 01:30 AM EDT Reads: 1,677
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Aug. 26, 2016 01:15 AM EDT Reads: 2,021