Impact of the Smart Car on Insurance Sector

Transcription

1 Impact of the Smart Car on Insurance Sector From Evolution to Revolution Dr. Ingo A. Blöink Daimler Insurance Services 30 th June, 2016

2 Megatrends Future developments in mobility and vehicle safety in particular will save millions of lives. The economic effect on related insurance business will amount to billions. Ambient Assistant E-Health Glocalization Global Cities Single Economy Identity Versatility E-Mobility Sharing Economy Open Innovation Start-Up Culture On-Demand Business Ageless Consuming Slow Culture Autonomous Driving Car Sharing Telematics Internet of Things Virtual Currency Crowd Funding Big Data Urban Farming/Mining Smart Cities New Mothers Trust Economy Cyber Crime 447 billion est. economic cost of road accidents per year * every occurrence of road death in Germany in 2014 ** every 5.6 hours 13 seconds occurrence of traffic accident in Germany in 2014 ** 290 million vs. 84 million est. number of connected cars in 2020 vs. in 2014 *** * Source: World Report on Road Traffic Injury Prevention, WHO, 2004 ** Source: DVS (Deutscher Vekehrssicherheitsrat, 2016) *** Source: Goldman Sachs; CrunchBase; Delta Partners analysis 2

3 Autonomous Driving autonomous driving features are already available, while full self-driving automation will be ready by * Stages Feet Off Hands Off Eyes Off Brain Off Assisted Driving Highly Assisted Driving Partial Autonomous Driving Full Autonomous Driving Steer Assist Lane Keeping V2V Communication Full Autonomous Personal Assistant V2V2I Communication Cruise Control Distronic Active Lane Keeping Distronic Plus Cross-Traffic Assistant Pedestrian Recognition *Source: Roland Berger Report Autonomous Driving, Nov

4 Reduction of Claims Traditional insurance players have to change their business models and seek new offerings to ensure survival. an 80% drop in crashes over the next 20 years thanks to so-called autonomous vehicles * By 2030, when half of the vehicles have reached full autonomous driving, the total insurance premium could drop by 45%. ** an average of 28 driver deaths per million vehicle car in 2012, down from 48 deaths in 2008 model cars *** Impacts Concentration of competition Exit of market players Reduction in frequency and severity of claims Opportunities New business model/customers Product Liability Operator Liability Cyber Risks Mobility Insurance Fleet Insurance Non-/close-to-insurance solutions * Source: Roland Berger Report Autonomous Driving, Nov ** Source: based on a KPMG study The Future of the German Motor Insurance Industry, 2015 *** Source: IIHS Status Report

5 More on Insurance Impact no more ownership but only a mobility fee (oder/pay on-demand vs. flat fee) own cars but shared with family/friends less vehicle per household increase in the number of fleets People will focus on MOBILITY driverless Pods and autonomous vehicles on the rise Sharing Economy Teaming up/strong integration with Mobility Companies? Change into Mobility Companies 5

6 OEM and Mobility Service Providers * Ownership Mobility Eco System Daimler Financial Services Daimler Insurance Services Daimler Fleet Management Mobility Services e.g. e.g. e.g. End Customers Ownership Mobility * Schematic diagram only 6

7 Mercedes Me Today Mercedes Me is a unique interactive customer platform that will be expanded for additional in car and out of car added value services in the future. Move car2go mytaxi moovel Flixbus Blacklane Mercedes-Benz Rent Connect Remote Online services Live Traffic Information Remote Park Pilot Assist Services Warranty & Mobility Digital Services Report Finance Financing Leasing Insurance (UBI/PHYD) Inspire meblog Dialog & Inspiration 7

8 (Driverless) Data and Future Services * Pay-How-You-Drive Insurance Travel Insurance Personal Digital Assistant Personalized Products On-Demand Offering Mobility Guarantee Pay-How-You-Drive Leasing * Schematic diagram only 8

9 Mobility Revolutions 2nd 1st Revolution Revolution 3rd Patent Office 9

10 Backup

11 Credits Icons: made by Freepik from Icon(PHYD Insurance):