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Connected Vehicle data: value for insurers and insured

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Connected Vehicle data – relevant to insurance?

We at Redtail think YES most definitely! Here’s why…

But first, what is Connected Vehicle?

Most cars produced since 2019 can (with the owner’s consent), produce a stream of data describing where and how the vehicle is being driven. OEMs produce this in their own different formats, but Redtail converts the OEM data into our standard format and thus making it viewable on our portals to help insurers assess risk and manage claims. The data can also help fleet managers understand how they can manage their fleet more efficiently and effectively.

This data stream is, in essence, Connected Vehicle.

Connected-vehicle-journey-data

As a journey is completed the data is (within a minute in most cases) transformed into our standard format for Journeys for you to use.    This OEM data (Connected Vehicle data) is now identical to data created from our devices (processed consumable journey data).

Connected-vehicle-GPS-Accelerometer-Gyro-data

Connected Vehicle capability can produce additional event data that may be relevant to understanding the risk of a driver making a claim.  For example, we know if the passenger seat is occupied or not.  This may mean a claim for injury may be increased or prevent fraud.    We are also told if driver aids such as traction control are enabled.  These may mean the likelihood of an accident (or the severity of damage) is reduced.

Connected-vehicle-additional-event-data

Data analysis is easy with our systems!

As seamless as using one of our devices, data access is simple.  We can push out a notification as soon as a journey is ready. When a notification is received, a customer can call our API to download a JSON document containing detailed 1Hz data describing the journey.   This document is in the same format as documents created by our devices.  So, whether you’re consumer data using one our of devices or via Connected Vehicle data connection, data analysis is easy with our systems.

Many of our customers have large investments in existing systems.  We are happy to work with you to create bespoke feeds to integrate with your new or existing systems and data, even including translating between different measurement methods such as time and distance.  Sound great in theory but worried how difficult this would be in practice?  No need to worry, we have proven cases of how easily our developers can get you set up, regardless of whether from hardware device data or Connected Vehicle data.

Data is available to you via REDTAIL’s flexible and open APIs

REDTAIL is trying to help you, the motor insurer, to realise long promised scale with actionable, valuable telematics data relevant for ever-broader segments within your book.  Our Connected Vehicle data is immediate, rich, and validated through our typically robust Proof of Concept testing.  It is available to you via our flexible and open APIs.  Plus, Redtail offers accessible and manageable web portals and mobile apps that can be tailored to your specific requirements.  And lastly there are rich and powerful additional datasets available set to enhance proposition and claims evolution going forward.

We are excited to start your journey of Connected Vehicle and its place in the world of IoT technology.

uk-red-car-fast

REDTAIL Bluetooth keyfob: IoT part 4 – are we there yet?

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The Redtail Bluetooth keyfob – how does it fit in with IoT?

First, we need to ask, IoT = Internet of Things – what does that mean?

‘Internet of Things – connection through the internet of everyday devices to send and receive data.’
[Oxford English Dictionary]

REDTAIL was founded on expertise in Stolen Vehicle Tracking and Usage-Based Insurance.

Both of which applications connect REDTAIL devices (in cars) through wireless connectivity to send and receive [valuable] data.

Over the last 6-12 months we have added to our capabilities in a diverse and interesting way.

In all three examples below, we continue to explore the potential of data derived from the Connected Vehicle.

Activity includes:

  • The identification and measurement of potholes, in order to manage the efficient deployment of maintenance teams to repair potentially damaging road surfaces
  • Phone network quality – collect specific information about the cellular network, such as signal strength, network ID and cell tower ID
  • Usage-Based Insurance – collection and management of connected vehicle data for provision to insurers in a format that they recognise and value

Redtail-Bluetooth-Tag

Redtail-Bluetooth-Tag-Scan-Tag

The challenges in understanding new use cases are interesting, but solving them is very much in our DNA.

Necessary device (if appropriate) and firmware settings, APIs and data interpretation and presentation combine to answer key questions:

  • • How do we derive the right data from the lorry/van/car/device or other!?
    • How do we deliver to Data Warehouse in the right frequency and volume in a cost-effective way?
    • How do we aggregate, analyze and make available in as useful, convenient and valuable a way possible?
    • How do we keep improving in line with customer feedback and expectations

REDTAIL’s design engineering and consultancy background enables genuinely disruptive [IoT?] solutions.

All of which may sound like typical and standard product management disciplines.  But REDTAIL’s design engineering and consultancy background (through founding/parent company Plextek) warrants a unique way of thinking, planning and problem solving which enables genuinely disruptive [IoT?] solutions.

Although we are a business striving for clarity of strategy and execution (focus if you like!) we would not pretend to know where the next opportunity or enquiry might come from.  Which is not to say that our capabilities can do simply anything – relevant and adjacent to largely existing business seems sensible.

Redtail-Bluetooth-Tag-journey-screen

Redtail-Bluetooth-Tag-parking-location

Redtail-App-post-pay-home

Redtail-App-pre-pay-home

So, to answer my original question ‘IoT – are we there yet?’ I don’t think we would ever be arrogant or complacent enough to say yes to that, but we have increasing conviction that our IoT capabilities certainly can do.  The Redtail Bluetooth keyfob is just the tip of the iceberg.

Fairer, friendlier car insurance – an oxymoron challenged

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Car insurance – could telematics be the answer to fairer and friendlier options?

It is broadly, if reluctantly, acknowledged that the purchase of car insurance is not the average consumer’s most pleasurable or engaging experience.  A 2020 moneysavingexpert.com survey found that 38% of drivers say it’s too much hassle to change insurance provider.  Feedback cites an absence of transparency, value and fairness.

The pandemic, as we all know, has exacerbated perceptions that insurers are, by and large, blind to sentiment and intent only on profit.  Ah well.

Change needed

Yet, with the welcome of new rules against ‘price-walking’, January this year marked the end of higher prices for existing policyholders compared to their new counterparts.  There would appear to be an opportunity to use more informed data on drivers to best effect.  So we thought we’d ask two thousand UK consumers for their thoughts (for the third year running) on communication from insurers around:

  • Benefits of telematics-based insurance
  • Potential benefits in fairer pricing
  • Improved road safety
  • Environmental impacts of driving behavior

telematics-savings-on-car-insurance

Benefits-of-telematics-based-car-insurance

Our results are both interesting and alarming, and undoubtedly herald opportunity.  But let’s start with the headline:

Just 4% of our sample have received any communication from insurers on a telematics-based car insurance policy.

Yes that is correct: of the 2000 drivers surveyed, just 80 people had been approached to adopt a fairer, safer, more environmentally conscious policy.  How so?

Let’s scrutinise a little.

Our survey also revealed an absence of awareness and education on telematics data on car insurance.

Specifically, how it can be of value for you, the consumer, in designing your policy.  That data presents a view on risk – how your driving style and capability and routes impact the likelihood of you making a claim – that is more detailed, nuanced and advanced than the typical postcode/parked on/off-street deliberations.

Secondly, insurers can help you, the driver, evolve your way of driving to be safer and more emissions efficient.  Lastly, in the event of a claim, there is granular data available to manage claims more fluently and fairly for all involved.

By way of a conclusion, and without wishing to be hectoring, let’s imagine how that conversation goes:

Old way

Insurer: Good morning Mr Little.  You are due to renew your car insurance on the 5th of next month.  Your premium will be the same as last year.
Mr Little: I’m sorry I am very busy please send me an email.

Telematics way

Insurer: Good morning Mr Little.  You are due to renew your car insurance on the 5th of next month.  If you give us the opportunity to gather data on your driving habits, you could save 20/30% on your next premium.
Mr Little: Really?  Please tell me more……

could-you-save-with-telematics-based-car-insurance

Is it so difficult?  We at REDTAIL know that we can do more to educate on telematics benefits.  We are utterly committed to supporting insurers and brokers with data that informs their data.  Data that can offer compelling reasons for consumers to adopt the best value and fairest policies in pursuit of safer and more environmentally-friendly driving.

Connected Vehicle: data of value for all insurers and insured

Reading Time: 3 minutes

Connected Vehicle – what does that mean to you?

Most cars produced since 2019 can (with the owner’s consent), produce a stream of data describing where and how the vehicle is being driven.  OEMs produce this in their own different formats, but Redtail converts the OEM data into our standard format and thus making it viewable on our portals to help insurers assess risk and manage claims.

The Connected Vehicle data can also help fleet managers understand how they can manage their fleet more efficiently and effectively.

As a journey is completed the data is (within a minute in most cases) transformed into our standard format for Journeys for you to use.  This OEM data is now identical to data created from our devices.

Redtail-Connected-Vehicle-journey-data

We can push out a notification as soon as a journey is ready.

When a notification is received, a customer can call our API to download a JSON document containing detailed 1Hz data describing the journey.  This document is in the same format as documents created by our devices.

Redtail-Connected-Vehicle-GPS-accelerometer-and-gyro-data

Connected Vehicles can produce additional event data.

Connected Vehicles can produce additional event data that may be relevant to understanding the risk of a driver making a claim.  For example, we know if the passenger seat is occupied or not.  This may mean a claim for injury may be increased or prevent fraud.    We are also told if driver aids such as traction control are enabled.  These may mean the likelihood of an accident (or the severity of damage) is reduced.

Redtail-Connected-Vehicle-additional-event-data

Many of our customers have large investments in existing systems.

We are happy to work with you to create bespoke feeds to integrate with your new or existing systems and data, even including translating between different measurement methods such as time and distance.

REDTAIL is trying to help you, the motor insurer, to realise long promised scale with actionable, valuable telematics data relevant for ever-broader segments within your book.

And most likely segments not yet in your book.  Our Connected Vehicle data is immediate, rich, and validated through our typically robust Proof of Concept testing.  It is available to you via our flexible and open APIs.  Plus, Redtail offers accessible and manageable web portals and mobile apps that can be tailored to your specific requirements.  And lastly, there are rich and powerful additional datasets available set to enhance proposition and claims evolution going forward.

We are excited to start your journey of Connected Vehicle and its place in the world of IoT technology.

uk-red-car-fast

Bluetooth keyfob – Redtail’s IoT story part 3

Reading Time: 3 minutes

Tier 2 supplier to auto OEMs fixes Driver ID challenge.

A little while ago we published a thought piece on the development of our Bluetooth Low Energy keyfob and a subsequent follow-up on Bluetooth keyfobs and IoT. We are excited to report that regulatory pressure has prompted thought and indeed action, bringing our concept to life!

Insurance industry bodies in Belgium, the Netherlands and the UK mandate Driver ID as part of accredited vehicle security solutions.

REDTAIL was asked to be part of an engineering design partnership responding to that requirement.

Redtail-Bluetooth-Tag

Redtail-Bluetooth-Tag-Scan-Tag

The challenge:  to evolve our Bluetooth keyfob product for use in an aftermarket OEM vehicle solution to enable:

– Unique association of one or more Bluetooth keyfob with the vehicle, through a secure mating process, overseen and managed by a remote server

– Recognition of “mated” Bluetooth keyfobs upon each journey start event

– Detection of unauthorized vehicle use, triggering a series of events associated with Stolen Vehicle Recovery, including:-

  • Alarm
  • Immobilisation
  • Remote alerting, monitoring and tracking
  • Location by police
  • Recovery

The Systems Integration challenge brings together OEM, Tier 1 Service Provider and Tier 2 supplier (REDTAIL!).

The strength of genuine partnership approaches to engineering solutions has realized a time to market of just eight months.

Aside from the regulator, and the need for the OEM to think beyond its line fit to this Aftermarket Accessory solution, the most persuasive benefit is greater peace of mind for the car owner. The launch bundle will include device plus two Bluetooth Tags, and the solution can mate with up to four.

Redtail-Bluetooth-Tag-journey-screen

Redtail-Bluetooth-Tag-parking-location

Redtail-App-post-pay-home

Redtail-App-pre-pay-home

So how can this play a compelling role in the larger eco system?

I have been asked many times by both personal and commercial lines, and fleet customers ‘Can your devices capture driver ID ?’. To date, the reply has offered an unconvincing reliance on App sign-in.

The addition of the Bluetooth keyfob to our portfolio provides a technically and commercially viable solution that confirms with necessary regulation, pleases insurers, and can greatly increase driver confidence in vehicle security.