Unlocking Telematics with AI and Proactive Engagement - Rob Malattia FIA, FSAS APAC Head of Pricing and Portfolio Management
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Unlocking Telematics with AI and
Proactive Engagement
Rob Malattia FIA, FSAS
APAC Head of Pricing and Portfolio Management
AIG, Singapore
HIGHLY CONFIDENTIAL – DO NOT COPY
Rob Malattia Unlocking Telematics with Artificial Intelligence and APAC Head of Pricing and Portfolio Management Proactive Engagement June 2019
THIS PRESENTATION IS FOR INFORMATIONAL PURPOSES ONLY AND SHALL NOT BE
CONSTRUED TO CONSTITUTE ADVICE.
AIG ASIA PACIFIC INSURANCE PTE. LTD. (“AIG SINGAPORE”) MAKES NO REPRESENTATION OR
WARRANTIES AS TO THE ACCURACY, COMPLETENESS OR TIMELINESS OF THE INFORMATION,
TEXT, GRAPHICS OR OTHER ITEMS CONTAINED IN THIS PRESENTATION. AIG SINGAPORE
EXPRESSLY DISCLAIMS ALL LIABILITY FOR ERRORS OR OMISSIONS IN, OR THE MISUSE OR
MISINTERPRETATION OF, ANY INFORMATION CONTAINED IN THIS PRESENTATION.
HIGHLY CONFIDENTIAL – DO NOT COPY 3
AIG Singapore at a Glance
1953
Serving the Singapore
Singapore’s
580+
community since
leading non-life
insurer* employees
Singapore’s Road Safety Education Programme
2nd largest Auto insurer
7.1 million
135,000+ kilometers travelled
on telematics
2016 4,792
Collaboration with the Pre-schoolers
Vehicles insured in the past year Singapore Traffic Police educated to date
Business segmentation
Premiums
S$485 million
Commercial
brought in
by agents
29% 39% Consumer
Gross premiums written in 2018
61%
S$263 million
Total amount of claims paid out in
S$3,066 325
Average amount Average number of claims paid
Singapore in 2018 of a claim out every day in Singapore
*Based on statistics from the General Insurance Association of Singapore HIGHLY CONFIDENTIAL – DO NOT COPY 4
Information on this slide is based on 2018 data.
Telematics landscape
The Auto industry is changing,
and changing FAST
#FutureIsNear
Source: Land Transport Guru, Deloitte University Press | DUPress.com HIGHLY CONFIDENTIAL – DO NOT COPY 5
Engagement: But where is the relationship with the customer?
Today, the only few touchpoints
between a customer and
an insurance company continue to
be…
1. Purchase
2. Claim
3. Renewal
#GettingaSale
HIGHLY CONFIDENTIAL – DO NOT COPY 6
Engagement: Where are we headed?
Every customer is unique
Our goal is to de-commoditise auto
insurance where the value
proposition is clear to the customer,
and this helps to drive customers'
decision making.
#OnDemand
HIGHLY CONFIDENTIAL – DO NOT COPY 7
What did we do?
HONG KONG
AIG Drive Master
Launched on: 15 Dec 2016
SINGAPORE
AIG On the Go
Launched on:1 Mar 2017
MALAYSIA
AIG On the Go
Expected Launch: 2H 2019
Rewards and Discounts
for Safe Driving
HIGHLY CONFIDENTIAL – DO NOT COPY 8
AIG on The Go
§
§ http://s7d2.scene7.com/is/content/aigassets/aig/apac/sg/videos/AIG-Blacks-Sevens-Web_high-res-autox432-800k.mp4
HIGHLY CONFIDENTIAL – DO NOT COPY 9
Key Features
1
2 3 4
Acceleration
Braking
Cornering
Connected Unique Explore
Scoring Insurance Automobile
Algorithms Discount Related
Structure Services
Manual vs Auto
Recording
Option HIGHLY CONFIDENTIAL – DO NOT COPYEngagement via Gamification
“Reward Campaigns with Badges” “LIVE Leaderboard” Scratcher
1 Always aligning
2 3
with the
Fundamental Goals
of the app
Unlock
Badges to win
E-Reward
Vouchers “More than 65,000
Recognition
Badges Daily/Weekly
for personal engagement
achievement with Successfully
high value unlocked to date”
(safer) behaviors HIGHLY CONFIDENTIAL – DO NOT COPY 11Relatable Contests
HIGHLY CONFIDENTIAL – DO NOT COPY 12Other Features
Parental Online
Control Accident Sharing industry
Reporting information
Reminders for Invite friends and on the Automobile
Insurance renewal receive e-vouchers Market in Singapore
and servicing
HIGHLY CONFIDENTIAL – DO NOT COPY 13Promoting Safe Driving with Partners
Holding contest for HomeTeamNS
(Govt Organisation)
HIGHLY CONFIDENTIAL – DO NOT COPY 14Unlocking Capabilities with Artificial Intelligence
• Activity tracking and Automatic journey recording
• Mode of transportation detection using movement
patterns (for eg; car, train, boat)
• Distracted driving detection (phone handling)
• Customer segmentation based on car usage and
driving behavior (for eg; risk, driving style)
• Driving context detection using driving patterns
(urban, residential, off-road, highway,
accident reconstruction)
HIGHLY CONFIDENTIAL – DO NOT COPY 15Driving Incidents
Each trip was analyzed both per individual users and per individual trips.
>50% reduction
HIGHLY CONFIDENTIAL – DO NOT COPY 16Overspeeding Time
The time per trip spent in over-speeding decreased over time, which is shown in the graph
below:
>30% reduction
The over-speeding time as the percentage of time
17
that drivers spent in driving above the allowed speed limit. HIGHLY CONFIDENTIAL – DO NOT COPYSafety Score
The below graph indicates overall increase of driving score across months as an average of
all trips recorded in the respective month:
19% increase
18
HIGHLY CONFIDENTIAL – DO NOT COPYGEOGRAPHICAL INSIGHT EXAMPLE – morning destinations
HIGHLY CONFIDENTIAL – DO NOT COPY 19GEOGRAPHICAL INSIGHT EXAMPLE – latest trip
HIGHLY CONFIDENTIAL – DO NOT COPY 20GEOGRAPHICAL INSIGHT EXAMPLE – speeding locations in Singapore
New data sets are emerging!
User of the system speed on majority of roads, but
locations where speeding exceeded 2x over the
speed limit are becoming noticable…Valuable
information when compared with claims data.
HIGHLY CONFIDENTIAL – DO NOT COPYAIG OTG Model
ü Connect with customers all day, every day when the customer
drives.
ü Interact with existing and non-existing customers on a real time
basis.
ü Engagement through updates, contests and rewards.
ü Savings for drivers through discounts.
ü Get closer to the risk and help mitigate it.
ü Increase one’s road safety knowledge and awareness which
leads to lower accidents. Safer roads are better for the community.
#TelematicsGoals
HIGHLY CONFIDENTIAL – DO NOT COPY 22You can also read
