To help monetise data-driven applications within the automotive industry, provider of automotive IoT cyber security solutions, Trillium, has introduced its new data mining and analytics solution, SecureSKYE.
The solution creates a dynamically updated profile of the car and its driver. By utilising the platform’s data mining and analytics capabilities, ‘safety and security’ applications and services such as geolocation-based emergency services, insurance tech solutions, including ‘Usage-Based Insurance’, ‘CyberSecurity-as-a-Service’, ‘Forensics-as-a-Service’ and even pre-emptive vehicular maintenance are all made possible.
“In-vehicle telematic control units are not new. However, the cyber secure, mass collection of such telling data on so large a scale represents a golden opportunity for insurers, traditional security and cyber security service providers, automotive manufacturers and wireless carriers,” said Trillium CEO David M. Uze.
SecureSKYE manages all data, with top priority on ensuring privacy and confidentiality of user information. Analytic outputs are customisable to meet the precise requirements of our customers’ service applications. SecureSKYE opens the door for insurers to tap into a new and lucrative revenue pool through enablement of a vast market for the profitable underwriting of autonomous vehicle and connected car insurance policies, as well as the roll-out of new fee-based services and applications.
“We are now at the cusp of realising the extraordinary benefits of IoT. Car insurance will be transformed from a ‘passive financial safety net’ to a ‘proactive life saver’. It’s a ‘win-win-win’ for insurers, auto manufacturers and vehicle owners, and positions Trillium as the backbone to provide the protection required in an autonomously driven world,” said Uze.
Trillium has already delivered SecureSKYE to a Japanese OEM customer. SecureSKYE is available for implementation in either blockchain or cloud-based formats.