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TMCNet:  Best's Review to Present April 9 Webinar on Telematics/Usage-based Insurance

[April 07, 2014]

Best's Review to Present April 9 Webinar on Telematics/Usage-based Insurance

(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 07 April 2014 Release date- 04042014 - Best's Review to Present April 9 Webinar on Telematics/Usage-based Insurance.

In a webinar hosted by Best's Review magazine and sponsored by Teradata Corp., a team of technology and insurance experts will discuss the power of harnessing new telematics data sources and analytics to build competitive differentiation-better pricing and profitable underwriting, greater customer segmentation, improved claims servicing, fraud and retention. The panel also will discuss how to structure a telematics/UBI program to select, measure and reduce risk as well as reduce claims, and how telematics technology will evolve and transform. The webinar is set for Wednesday, April 9 at 2 p.m. Eastern Time.


Register for the complimentary webinar at http://www.bestreview.com/webinars/telematics14.

Panelists for this webinar include: o Geoff Werner, Head of Global Usage-based Insurance, Towers Watson o George Ayres, Vice President of Global Sales, Verizon o Georges Prouty, Senior Industry Consultant, Teradata Corp.

For well over a decade, the insurance industry-with few exceptions-has regarded usage-based insurance (UBI) through telematics with a mixture of curiosity and skepticism. Recently there has been a meaningful upsurge in interest and investment driven by rapid developments in technology and changes in attitude from both regulators and consumers. The potential benefit to an insurer of a UBI strategy is suddenly now much clearer than in the past.

With new data-driven business models, data captured will include a number of raw data elements for analysis of interest to insurers: OBD data from the vehicle (VIN, odometer, speed, RPM); GPS data (time, location, motion); and accelerometers. Using this data enables analyses that can establish the utilization of the vehicle, and place those miles into the context of the road network to understand the driving environment and the drivers' behavioral response to these elements. Additionally, by utilizing this data not simply as a source of raw information, but as a competitive, data-driven business advantage, offers the power to lift the insurer above parity by doing more of what matters most to insurers and customers.

The opportunities across the insurance value chain are numerous; better pricing will ultimately lead to more profitable underwriting, greater customer segmentation, improved claims servicing, fraud reduction, enhanced customer retention and cross-sell and up-sell efforts. Also, and importantly, customer feedback can create a better awareness of risk that can lead to a reduction in accident and fatality rates.

The event is sponsored by Teradata, which describes itself as a global leader in analytic data platforms, marketing and analytic applications, and consulting services. Visit them at http://www.teradata.com/industry-expertise/insurance/.

Webinar attendees can submit questions in advance during registration, or email questions to news@ambest.com during the live event. Coverage of the webinar will be featured in an upcoming issue of Best's Review. For more information about the webinar, please call (908) 439-2200, ext. 5561, or email lee.mcdonald@ambest.com.

Best's Review, A.M. Best's award-winning monthly publication (http://www.bestreview.com), covers the global insurance industry. For information about advertising in Best's Review or webinar sponsorship opportunities, call (908) 439-2200 ext. 5399, or email advertising_sales@ambest.com.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.

A.M. Best's credit ratings are independent and objective opinions, not statements of fact. A.M. Best is not an Investment Advisor, does not offer investment advice of any kind, nor does the company or its Ratings Analysts offer any form of structuring or financial advice. A.M. Best's credit opinions are not recommendations to buy, sell or hold securities, or to make any other investment decisions. View our entire notice for complete details.

A.M. Best receives compensation for interactive rating services provided to organizations that it rates. A.M. Best may also receive compensation from rated entities for non-rating related services or products offered by A.M. Best. A.M. Best does not offer consulting or advisory services. For more information regarding A.M. Best's rating process, including handling of confidential (non-public) information, independence, and avoidance of conflicts of interest, please read the A.M. Best Code of Conduct.

A.M. Best - Europe Rating Services Limited (AMBERS), a subsidiary of A.M. Best Company, is an External Credit Assessment Institutions (ECAI) in the European Union (EU). Therefore, credit ratings issued by AMBERS may be used for regulatory purposes in the EU as per Directive 2006/48/EC.

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