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Can Aftermarket Providers Own the Connected Car Market?

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Connected Car Ecosystems have the ability to change the way vehicles are used, maintained and insured. Automotive aftermarket has the opportunity to take a large slice of this market if they are prepared to disrupt and move aggressively. The technology is available off the shelf. You can do it now with technology used internationally in over half a million vehicles. So risk is very low and costs much the same.

Connected Car Ecosystems have the ability to change the way vehicles are used, maintained and insured. Automotive aftermarket has the opportunity to take a large slice of this market if they are prepared to disrupt and move aggressively. The technology is available off the shelf. You can do it now with technology used internationally in over half a million vehicles. So risk is very low and costs much the same.

This is in a landscape of OEMS progressively building telematics capabilities into new vehicles overseas, but how much and how soon? However most of the cars on the road today are still on average 10 years old so plenty of headroom to establish a data marketplace. So will this end the road for After Market Repair and Maintenance? We don’t believe so, not if the Aftermarket is prepared to compete. Other questions include whether a Connected Car leader outside the Insurance and OEM space can disrupt the UBI/OEM model? User based insurance can significantly enhance claims accuracy and lower costs to insurers. But they are historically very conservative to spending and likely just as happy to get data anywhere as long as it’s economic and reliable. Is the insurance industry waiting for a true market Connected Car disrupter in the Australian market before they invest in the future so they can get that lower cost data that they need from Telematics? Does Aftermarket want that market space?

These were key Issues Defining the Future of UBI at the Insurance Telematics USA 2015 Conference & Exhibition in Chicago September 2015.

 “Abstract from Insurance Telematics September 2015” included topics on:

CLAIMS ENHANCED WITH TELEMATICS: Utilizing aggregated UBI data in the ‘golden hour’ after a collision. Detect fraud, streamline claims reporting and cultivate a superior UBI customer relationship

UBI BECOMES INTEGRATED: OEMs are setting their sights on UBI and partnering with insurers. Will this bring the aftermarket to the end of the road?

IN THE UBI OF THE CONSUMER: Revolutionize your product development based on exclusive global consumer studies of VAS, price points, data concerns & customer engagement tools

THE CONNECTED CAR DISRUPTER: New mobility models and a leap in automotive tech. are creating an insurance enigma. Can telematics be the missing piece of the puzzle?

UBI DATA COLLECTION EVOLVES: From dongle to mobile app and OEM embedded. Re-align UBI algorithms for interoperability across the entire device landscape for enhanced pricing accuracy.

What has emerged in the last few years is that Australian insurers can’t make the ROI work on their own but they are looking for alternate models. Connected Car Ecosystems can enable this and change the way the Aftermarket does its business and provide new lines of revenue with insurance a potential key player in that game. Drive Tech Australia partner Helpten has specialised in the UBI space and related Fleet Service and Repair and Maintenance with all the major players in Finland to create a world leading Connected Car eco system model that caters for all in a single platform that is adaptable to multiple data collectors. This aplces the Auto Repairs, the Fleet Managers in a postion to be a Connected Car Ecosystem owner quickly and establish ownership of significant market share ahead of any future wave.

http://www.helpten.fi/en/Services/Automatic%20driver%E2%80%99s%20log.html

http://www.helpten.fi/en/Services/Fleet%20management.html

http://www.helpten.fi/en/Services/For%20vehicle%20repair%20shops.html

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