Recently Harman CEO Dinesh Paliwal outlined the company`s plans in an interview with Automotive News Europe， Mr. Paliwal mentioned that In the fiscal year to June 2016 Harman will have achieved about $7 billion in sales, of which $4.5 billion is automotive and the current percentage of penetration for the infotainment technology is about 25 to 27 percent. Europe is running at around 25 to 30 percent. Japan is the highest at about 65 percent. China is single digits. The U.S. is about the same as Europe. China is a huge opportunity for Harman. Regarding the data opportunities, Mr. Paliwal suggested that Harman can get the driver behavior data through its infotainment systems and telematics to do proactive diagnostics on the car ahead of planned service intervals and then to carve out a stream of data for insurance companies.
Under the background of the billions dollars loss of auto insurance underwriting and the China auto insurance premiums reform, the new era of big data insurance UBI auto insurance began to rise, that provides unprecedented business developing opportunities for insurance company, auto makers, ubi solutions providers, auto data mining companies, Internet company etc. However for developing UBI product, data collection and application, insurance actuary pricing, and how to acquire ubi customers remain the major challenges for the industry.
The upcoming "China Insurance Telematics Summit 2016" to be held on 22-23 Beijing, has invited Mr. Yao Wang, the General Manager Ph. D, FCAS, of Willis Towers Watson China will present and deciphering the ubi data collection and application, including the major challenges of Insurance company should overcome; how to integrate the different supplier data to develop ubi product, to help you achieve successfully ubi customer acquisition and precise pricing. Also Ms. Leire Jimenez Ayesa, the CEO of Mapfre Asia Pacific will present of the topic UBI-the challenges to attack, segment and price customers. In addition, Dr. Nanxia Rao, from China Reinsurance Group will talk about the development of Auto insurance data actuarial including current auto premium reform, the development of actuarial technology etc. Part of the confirmed attending companies including: Harman, China United Property Insurance, China Alltrust Insurance Company, ChainwayTSP, AXA Assistance, Kaitaiming Technology, Quattro Technologies, MAPFRE APAC, Shenzhen LanXiLand Technology, iCarforce, Neusoft, UBiAi Technology, ZKING Property & Casualty Insurance, PingAn Property & Casualty Insurance, IBM, Allianze, Navinfo etc.
Posted by: Tracy Liu, Marketing Specialist, GRCC - Genesis Resourcing Consulting China, China (02-Sep-2016)