|By Kevin Benedict||
|May 5, 2014 09:00 AM EDT||
Data ownership and privacy are two big issues that we all need to be thinking about these days. Mobile, telematics and IoT technologies have reached the point that it is very easy and cost effective to track the location of just about anything. What personal information are you willing to give up in order to get a better insurance rate? We are seeing more business models these days based upon personal data and tracked activities and locations which should be giving each of us a sense of urgency to think through these issues.
A couple of weeks ago, Quindell and RAC in the UK announced that it has launched a £100m scheme for black boxes to be installed in cars. RAC aims to sell these telematics tracking devices to its 2.5 million members in order to help safe drivers reduce their premiums, plus the opportunity to drive additional revenue by monetizing the data (using the Code Halos).
I am not too sure that this strategy is something that most drivers will buy into for the following reasons:
- It does not really offer the customer a substantial benefit that is quantifiable. If the customer realizes that this approach will only save them a nominal cost it is unlikely to motivate them to pay for the device to drive the premium down by just £100 or there about.
- I never automatically renew my motor insurance with the same company, as I am always searching for the best deal when my policy is about to end. In general, car policy buyers are becoming more informed to make sure they do not renew their insurance without shopping around for the best deals.
Today the conversation around privacy is a very sensitive issue, and RAC may find out that the desire to lower premiums may be trumped by the need for privacy. For example we already know that the probability of having an accident during the night is higher than during the daytime. If as an individual I do more driving in the night than in the day, why would I have a box installed in my car when it will drive up my premiums in the long run?
There is also the issue of driver's location being monitored, and the law enforcement asking to give up data on an individual's whereabouts. These are decisions that will weigh heavily on the mind of customers as to whether or not they should have these boxes installed.
At the beginning of the year at the annual Consumer Electronics Show (CES) in Las Vegas, Ford marketing head Jim Farley sparked a fury among privacy advocates when he said during a panel discussion, "We know everyone who breaks the law, we know when you're doing it". He went on to say "We have GPS in your car, so we know what you're doing. By the way, we don't supply that data to anyone."
The alternative approach should be that the customers choose to install the black box themselves and choose which data they want to share with their insurance company. The more data they are willing to share the higher the possibility for lower premiums, this with the option to no longer share that data at any time they wish, will make for a good proposition.
This is the whole idea behind the concept of the quantified-self. The individual is in charge of their data and they choose what part of that entire dataset they want to share or to withhold. This is why I see the RAC/Quindell initiative as a high-risk strategy that might not yield the returns that it is hoping for.
While the idea of giving holders of health or life policies heart rate monitors sounds like a ludicrous idea, on the other hand the idea of giving policy holders the opportunity to upload data to indicate that they have a consistent active lifestyle and not at risk of a serious health issue or sudden death might encourage some policy holders to share this data because they like what they have achieved to reduce any of the aforementioned risks and would like to be rewarded for it.
It is important to note that for some policyholders, the reward has to be seen as substantial, otherwise it may not be enough for them to want to participate. This is where gamification comes into its own and where web portals like MapMyRun andTraining Peaks would begin to benefit from helping to develop the concept of the quantified self.
In using gamification to create excitement, there also has to be rewards for consistent performance. Independent portals for driving behavior where car drivers can show off their good driving skills may give insurers the opportunity to reward good driving not just in terms of lower premiums but rewards through gamification. These rewards will go to individuals whether they hold the sponsors policy or not.
According to a USA Today editorial, it was reported that 94% of all new cars manufactured today have black boxes. If that is the case, then car companies need to begin open up that data source such that it is easy for the owners to monitor and manage their own data, which can in turn be provided to the insurer should they desire to do so. This will cause initiatives like RAC/Quindell to review its strategy, as it will eliminate what is already considered a very fragmented market in terms of device and data interoperability.
This should be the approach that RAC and Quindell considers without locking the customer into a black box that would no longer be useful should the policyholder decide to change insurer. Hence, it makes sense that insurers do not reinvent the wheel but seek to partner with car manufacturers so that car owners can access that data that insurers need to reward what is considered good behavior on the roads.
1. USA Today. January 15, 2014. - Is your car's black box the next privacy battlefield?
Peter Abatan is a project manager and a team member of Studio13, which provides product and service design to a wide variety of Cognizant's customers.
Kevin Benedict Writer, Speaker, Editor Senior Analyst, Digital Transformation, EBA, Center for the Future of Work Cognizant View my profile on LinkedIn Learn about mobile strategies at MobileEnterpriseStrategies.com Follow me on Twitter @krbenedict Browse the Mobile Solution Directory Join the Linkedin Group Strategic Enterprise Mobility Join the Google+ Community Mobile Enterprise Strategies Recommended Strategy Book Code Halos Recommended iPad App Code Halos for iPads
A completely new computing platform is on the horizon. They’re called Microservers by some, ARM Servers by others, and sometimes even ARM-based Servers. No matter what you call them, Microservers will have a huge impact on the data center and on server computing in general. Although few people are familiar with Microservers today, their impact will be felt very soon. This is a new category of computing platform that is available today and is predicted to have triple-digit growth rates for some ...
Oct. 24, 2016 02:00 PM EDT Reads: 34,140
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Oct. 24, 2016 01:00 PM EDT Reads: 1,000
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 24, 2016 01:00 PM EDT Reads: 822
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 24, 2016 01:00 PM EDT Reads: 853
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 12:45 PM EDT Reads: 4,698
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 24, 2016 12:30 PM EDT Reads: 974
@ThingsExpo has been named the Top 5 Most Influential Internet of Things Brand by Onalytica in the ‘The Internet of Things Landscape 2015: Top 100 Individuals and Brands.' Onalytica analyzed Twitter conversations around the #IoT debate to uncover the most influential brands and individuals driving the conversation. Onalytica captured data from 56,224 users. The PageRank based methodology they use to extract influencers on a particular topic (tweets mentioning #InternetofThings or #IoT in this ...
Oct. 24, 2016 12:15 PM EDT Reads: 8,407
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Oct. 24, 2016 11:45 AM EDT Reads: 1,309
In an era of historic innovation fueled by unprecedented access to data and technology, the low cost and risk of entering new markets has leveled the playing field for business. Today, any ambitious innovator can easily introduce a new application or product that can reinvent business models and transform the client experience. In their Day 2 Keynote at 19th Cloud Expo, Mercer Rowe, IBM Vice President of Strategic Alliances, and Raejeanne Skillern, Intel Vice President of Data Center Group and ...
Oct. 24, 2016 11:45 AM EDT Reads: 1,511
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 24, 2016 10:45 AM EDT Reads: 3,861
Virgil consists of an open-source encryption library, which implements Cryptographic Message Syntax (CMS) and Elliptic Curve Integrated Encryption Scheme (ECIES) (including RSA schema), a Key Management API, and a cloud-based Key Management Service (Virgil Keys). The Virgil Keys Service consists of a public key service and a private key escrow service.
Oct. 24, 2016 10:15 AM EDT Reads: 1,071
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Oct. 24, 2016 09:00 AM EDT Reads: 2,321
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 24, 2016 08:15 AM EDT Reads: 3,155
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Oct. 24, 2016 08:00 AM EDT Reads: 866
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 07:30 AM EDT Reads: 2,578
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
Oct. 24, 2016 05:45 AM EDT Reads: 11,400
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Oct. 24, 2016 05:00 AM EDT Reads: 5,552
The Quantified Economy represents the total global addressable market (TAM) for IoT that, according to a recent IDC report, will grow to an unprecedented $1.3 trillion by 2019. With this the third wave of the Internet-global proliferation of connected devices, appliances and sensors is poised to take off in 2016. In his session at @ThingsExpo, David McLauchlan, CEO and co-founder of Buddy Platform, discussed how the ability to access and analyze the massive volume of streaming data from millio...
Oct. 24, 2016 05:00 AM EDT Reads: 3,108
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Oct. 24, 2016 05:00 AM EDT Reads: 2,511
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 24, 2016 04:30 AM EDT Reads: 1,342