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Insurance IoT is a social good! Because: 🔵 Expected losses can be reduced structured programs with both real-time mitigation actions to solve a specific situation, and behavioral change mechanisms to promote safer behaviors (both in personal and commercial lines) 🔵 Rate can be matched to risks better: - Smaller and more accurate pricing clusters allow a large part of profiles to receive a lower rate - Even with the ability to price the individual probability of loss (cluster of one) the insurance foundation isn’t canceled (The risk of each policy will contribute to the expected losses of the portfolio; The premiums paid by many lucky policyholders will be used to pay the claims of the few unlucky policyholders who had an accident in a period of coverage) 🔵 IoT data can be used to increase the effectiveness and efficiency of the claim process, so improving the combined ratio ceteris paribus ⏩ Large part of the policyholders will pay less (and portfolios currently difficult to insure will become more insurable) Insurance IoT (and telematics) is not about providing a discount Insurance IoT (and telematics) is about creating economic value using the data and sharing part of this value with policyholders (and agents & brokers) An integrated holistic adoption of the IoT paradigm is a game changer for your insurance business and a social good: ◾ it allows to improve the availability and affordability of insurance coverages ◾while allowing the sector to write a profitable business Below you can enjoy a selection of best practices in both personal and commercial lines - written with some of the IoT Insurance Observatory members - that have already started to obtain results from their IoT business transformation journeys
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
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The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
The Path to Product Excellence: Avoiding Common Pitfalls and Enhancing Commun...
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0183760ssssssssssssssssssssssssssss00101011 (27).pdf
0183760ssssssssssssssssssssssssssss00101011 (27).pdf
Insurers' journeys to build a mastery in the IoT usage
Insurers' journeys to build a mastery in the IoT usage
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B.COM Unit – 4 ( CORPORATE SOCIAL RESPONSIBILITY ( CSR ).pptx
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RSA Conference Exhibitor List 2024 - Exhibitors Data
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Pharma Works Profile of Karan Communications
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1.
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definition It start
before inception of product / service idea and Continues even after sales
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It is
science And it’s execution is purely an art
4.
example Science –prepare
a sales promotion plan for cosmetic product A plan – for distribution strategy – health care p/s
5.
An art
Human element is involved
6.
why Why some
org . Product /services be success and /or fail in some time ? Fail-
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