Over the years to come, timely access to predictive vehicle-related and vehicle-generated data will become critical to operating effectively in the UK motor insurance market.
Access to this data is currently far from assured. Our research aims to scope the challenge areas and to influence and facilitate the market-wide provision of such data to the motor insurance market.
This specific programme covers topics ranging from the ever-increasing data generated by connected vehicles and vehicle functionality data such as ADAS, to future incident event data associated with automated and autonomous driving. It seeks to understand the increased role of over the air (OTA) functionality and offer a perspective on the resulting shift in dynamic risk for insurers, consumers, and regulators. Other aspects include access to relevant vehicle data to enable liability resolutions, repair, research, and law enforcement as well as feed the continuous evolution of the technology.
Over the past decade, the number of vehicle data points has increased from 25 to over 100 and, in the next generation of vehicles, is expected to increase to 100,000. In addition, 80% of new vehicles on UK roads are now connected; over the next few years this number is expected to reach 100%. Vehicle data access is therefore a timely focus area, affecting a broad range of industry stakeholders.
Our aim is to ensure prompt access to fit-for-purpose vehicle data; assess the current and future use of vehicle data in managing increasingly dynamic vehicle risk.