Cyber Times International Journal of Technology & Management

Telematics is the wireless connectivity established between passenger vehicles infrastructure whether it is machine-to-machine, machine-to-human or direct to the cloud. Telematics for safety and security is the most prevalent deployment of this technology. The term “telematics” broadly refers to a system that integrates both telecommunication and informatics technologies for analysis. In the context of motor insurance it refers to live capture and transmission of information relating to driving behavior of an insured. This paper highlights the value proposition to the customers and the insurers for insurance telematics in India. The paper addresses various business case studies when considering telematics insurance data management and solution implementation. Getting this right is key, if the benefits of the new business model are to be realized. Engagements have ranged from the design of business processes for on-boarding telematics customers, to the provision of
telematics devices and development, hosting and support of the infrastructure required to manage and augment large volumes of telematics data from in-vehicle devices. The paper focuses on the Indian insurers to plan and manage their entry into this important new market and to establish the new capabilities that are key to success with the following points:-

     •  Business strategy and operating model to better understand the potential impact of launching a telematics proposition on an insurer’s business model and organizational capabilities, and how to plot a response that is aligned to broader strategic imperatives.
     •  Business case for implementing a telematics proposition that considers elements including run costs for the technology and the supporting operating model, and the impact on claims  experience, business volumes and business retention.
     •  Data management strategy to determine the most appropriate data management pattern for a telematics proposition, considering options ranging from in-house to using a third party host solution or telematics partner.
     •  Data and solution architecture to provide a data architecture blueprint that highlights the key focus areas for implementation and a solution architecture that will deliver its requirements.
     •  Planning and execution through the development of a roadmap to implement the business, technical and data solution, and provide delivery and program management capabilities to embed the telematics proposition.