國立虎尾科技大學 |

Internet of Things in Insurance : = Unlocking the Value of Innovation.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	Internet of Things in Insurance :/
其他題名:	Unlocking the Value of Innovation.
作者:	Ferreira, Ana.
面頁冊數:	1 online resource (113 pages)
附註:	Source: Masters Abstracts International, Volume: 85-10.
Contained By:	Masters Abstracts International85-10.
標題:	Web studies. -
電子資源:	click for full text (PQDT)
ISBN:	9798382177762

Internet of Things in Insurance : = Unlocking the Value of Innovation.
Ferreira, Ana.

Internet of Things in Insurance :Unlocking the Value of Innovation. - 1 online resource (113 pages)

Source: Masters Abstracts International, Volume: 85-10.

Thesis (M.M.)--Universidade NOVA de Lisboa (Portugal), 2018.

Includes bibliographical references

The aim of this project is to understand if Tranquilidade can capitalise on the Internet of Things (IoT), by associating them to the traditional insurance policies particularly the Auto and Home insurance products. The entire project was conducted for the two aforementioned insurance products simultaneously, being composed by three main phases: diagnosis, analysis and recommendations.• Tranquilidade is leading insurance company is the Portuguese insurance market, and was acquired by the private equity firm Apollo Management Group. It belongs to the holding company Seguradoras Unidas S.A. which was created in 2016, alongside AdvanceCare, Acorena and Logo. The company is currently going through a strategic transformation program, called 'Ambition 2020' and recently embraced a rebranding strategy aiming at increasing profitability and continued growth.• From the external analysis it was possible concluded that the insurance market had been shrinking, on average at 4.8% p.a. during the past 8 years. The insurance market has two main business areas: Life and Non-Life. The weight of the Life segment in the total amount of premiums written has always been above 60%, although it has been decreasing in the most recent years. In the past year, the market has shown a slight recovery. This was largely supported by two factors: the improvement of the Portuguese economy and the competitive market dynamics, with an increasing focus on improving technical issues and product repricing efforts. Looking at the industry landscape, the Portuguese insurance market is highly concentrated, with the top four players - Fidelidade, Ageas & Ocidental, Santander Totta Seguros and Seguradoras Unidas - dominating the market. In 2017, Tranquilidade attained more than 700M€ of revenues from premiums and ranked second in the Non-Life segment.• On a parallel dimension, Insurtechs which are a subset of fintech companies with a strong focus on big data and internet of things, are disrupting the insurance market. These companies are more agile, digital and have a more personalised offer. This new digitalisation and automation trend could have high potential impacts on insurers value chain, especially in terms of product offerings, claims handling and underwriting. Hence, insurers will have to decide whether they want to follow the trend or if they want to stand aside and risk losing market share. A great level of innovation is currently taking place and Tranquilidade still falls behind some of its main competitors in terms of new initiatives and loss ratio. In the context the team proposes to answer the follow question: "Will Tranquilidade be able to generate value by developing new products, for both the Auto and Home insurance, associated with the Internet of Things?"• After conducting a national and international benchmark analysis for the use of telematics in auto insurance, the team realized multiple solutions were already being used by insurers to offer customers tailored policies. These technologies can be used to monitor customers' cars, using GPS and on-board diagnostics to record movements on a computerised map, using devices like the OBD (On-Board Diagnostics), the Black Box, the Smart-Tag and even mobile applications.The potential impact of such solutions is huge, ranging from a boost in revenues and margins to positive externalities, such as increased road safeness due to improved driving behaviour.• From an extensive research and benchmark analysis, the team defined eight potential suppliers that could offer IoT solutions for Tranquilidade's new auto insurance product.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798382177762Subjects--Topical Terms:

1148502
Web studies.
Index Terms--Genre/Form:

554714
Electronic books.

Internet of Things in Insurance : = Unlocking the Value of Innovation.
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