We are developing a series of innovative insurance products leveraging on connectivity (Internet of Things), that range from motor insurance to home or health insurance, to ensure a simpler and smarter customer experience. Such products are based on advanced telematics services aimed at reducing risk through prevention and raising clients’ awareness of their responsible behaviour and attention to the environment.
The new series of telematics products impact on our business activity as insurers as well as on our clients and the civil society, and include several benefits, such as:
- reducing the cost of insurance for clients who adopt safe driving practices
- increasing the probability of recovering stolen vehicles
- providing fast assistance on the scene of accidents and accurately reconstructing the dynamics of accidents for a fairer claims settlement
- speeding up the claims payment
- providing tools for monitoring houses as to prevent risks and improve the quality of domestic life
- promoting virtuous driving styles aiming at reducing traffic and, as a consequence, fuel consumption as well as greenhouse gas emissions.
Internet of Things consists of tools and applications that allow people to interact with machines and objects to directly and remotely communicate with each other thanks to the support of the internet
In 2015 we launched a new telematics-based product, SOS Partner, in Slovakia. It is the first of its kind in Central and Eastern Europe: it rewards virtuous drivers offering a discount and provides drivers and their family with complete protection and cutting-edge assistance. A device automatically identifies the location of the claim and sends the GPS coordinates to Europ Assistance, which provides assistance services. In addition, each device has an emergency button which also allows clients to autonomously request assistance thanks to its direct connection with the head office.
In 2015 Central, our German company specialized in health insurance, made RechnungsApp available to its clients. This app makes it possible to send medical prescriptions and payment receipts safely and securely via a quick and easy process, without consuming any paper. The app can also be used to monitor the various phases of compensation. In addition, clients of my health plan can use another service that enables them to access a video explaining the various reimbursement phases.
Drones, a view from above
We are also using new technologies to improve claims management. Our Czech company C˘ eská Pojišt´ovna has introduced the use of drones to carry out inspections and to complete the documentation related to complex damages occurring in places that are difficult or dangerous for staff to access, or major claims. The drones are able to record high-definition film throughout their flights and explore the areas surrounding the site of the insured event. The technology provides detailed recordings and high-res stills thanks to which it is possible to determine the extent of the claim through proportional calibration. The flights, lasting 15 minutes on average, provide new levels of precision compared with the standard inspections of the past.
Although some illnesses are incurable we can still attempt to manage them as best we can. In Germany, we have launched a programme for treating chronic illnesses, which is initially focused on diabetes. Clients affected with this condition receive a smartphone and an instrument for measuring their insulin levels during the day and at specific times, such as before and after physical exercise. In this way we are able to help our clients keep their diabetes constantly monitored, with less recourse to public health care facilities as a result.
Home, smart home
In 2015 we launched the first Internet of Things project in the Spanish home insurance market. Europ Assistance included a product for smart homes in its offer. WeHome enables clients to monitor their homes remotely thanks to a series of smartphone-based services. When you are out, thanks to a special app it is possible to check that doors and windows are shut, to set the heating thermostat (not just to contain costs but also to reduce greenhouse gas emissions), and to check energy consumption and lighting (thanks to a device that also enables you to avoid electrical overloads). In addition, the policy also covers early return from holidays, safety measures in the event of serious damage to the property, and a 24/7 emergency service with expert professionals.