Telematics Update: Smartphone UBI apps, currently revolutionising the insurance telematics market, have the potential to build trust between the insurer and the consumer in the automotive insurance market states Andy Goldby, Chief Product Officer at UBI app developer The Floow.
Now that early stage challenges such as battery reliability and data validation issues are being overcome, insurers are steadily beginning to adopt app solutions to launch their first forays into the UBI sphere. Indeed, the benefits for insurers to adopt a smartphone app are numerous; for one, they have the ability to select the metrics upon which a driver is assessed, enabling them to tailor a product to a very personal level dependent on the driver. Accident data is another data metric that will soon be able to be collected by smartphone. This will enable insurers to collect real-time accident notifications as well as provide e-call capabilities, something that was previously reserved for black box concepts.
These capabilities are having a positive effect on the insurer-insured relationship, building a trust that insurers have traditionally found difficult to establish. Goldby states, “Traditionally, consumers think the companies are asking for too much money, and insurance companies think that drivers make false claims and drive badly. In reality, this perception is based on experiences of a small minority of both. Our app allows the user to tag journeys which, for whatever reason, he does not want included in the scores. This would include, for example, journeys he or she took in a taxi or bus. This feature lets the insured person be in control and shows that the insurer trusts him.”
Andy Goldby will discuss how the smartphone proposition can be built into a sustainable business proposition at the Telematics Update’s Insurance Telematics Europe Conference and Exhibition 2014 (6-7 May, Novotel Hotel West, London). www.telematicsupdate.com/insurance-telematics-eu 
Telematics Update will hold the 4th annual Insurance Telematics Europe 2014 Conference & Exhibition in London this May (6-7th May, Novotel London West, UK). www.telematicsupdate.com/insurance-telematics-eu 
Telematics Update has constructed an independently researched agenda for the Insurance Telematics Europe Conference & Exhibition, with 30+ key sessions and over 50 carefully selected insurance professionals from Renault,Allianz, Volvo, Zurich, Microsoft, MoneySupermarket.com, Autoline, Young Marmalade, Thatcham, LV=, FBD Insurance, Boston Consulting Group, Towers Watson, Comparethemarket.com and more.
At Insurance Telematics Europe 2014 they will explore the crucial topics that insurers face today, including:
For the complete Insurance Telematics Europe 2014 Conference & Exhibition programme and speaker line-up visit the website: www.telematicsupdate.com/insurance-telematics-eu 
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