IDC PlanScape: Connected-Car Usage-Based Insurance to Transform Customer Experience

IDC PlanScape: Connected-Car Usage-Based Insurance to Transform Customer Experience

The future of the insurance industry rests on the ability of carriers to adapt to the ever-evolving insurance ecosystem to successfully deliver usage-and-value-based products and manage risks proactively. This is critical to make customers feel they receive maximum value for the premiums they pay and stay loyal to their carriers, said Sabitha Majukumar, senior research analyst, IDC Financial Insights."IoT becomes a key enabler to deliver UBI products. However, implementation needs to be carefully planned to avoid some of the common challenges across IoT deployments to ensure a successful project that can help reap benefits for both insurer and end customers," said Marta Munoz, IDC EMEA IoT Practice Leader.

IDC PlanScape Figure
Executive Summary
Why is CONNECTED-CAR UBI Important?
Who are the Key Stakeholders?
Insurance Business Units
How Can My Organization Take Advantage of CONNECTED-CAR UBI?
Understand Different Customer Segments and Their Needs
Employ a Robust Marketing and Customer Engagement Strategy
Transform the Organization Culture
Ensure Stakeholder Buy-In and Ongoing Commitment
Address Privacy and Security Concerns
Hand-Pick the Right Partners
Advice for Technology Buyers
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