3.4 Addressing the data imperative As always, access to and Participants accept the primacy of data in Changing attitudes to privacy create ownership of data is a core the connectivity equation, “Data privacy challenges and opportunities. Today, is something we cannot ignore. I think the consumers are more aware of intrusive concern right across the industry has been walking over consumers monitoring of their data — and more wary industry. Ensuring that and thinking we can own their data.” of the uses to which this information can However, who really “owns” the data and be put. However, at the same time, they privacy is respected — and who should be responsible for its security? are increasingly more willing to trade consumer information used The data trade-off between OEMs and privacy for improved and/or discounted responsibly — is uppermost insurers is a perennial favorite for debate. services. in participants’ minds. Insurers are beginning to look more closely OEMs are waking up to the huge value at the benefits they can provide OEMs in contained in vehicle-related data. As one exchange for the information they need summed up, “We hold data as far as what on drivers to optimize their pricing and the car is doing. So we can create content policies, “Instead of paying for the data we based around that information … content need, we are starting to investigate what that makes your experience richer, safer we can give back to OEMs in exchange. and gets you the right information at the It’s a two-way street and the more traffic right time to make the right decision. that flows in either direction, the more the That’s the end game.” ecosystem as a whole will benefit.” “How do we monetize our vehicle data? There are “Different kinds of things we can do in terms of multiple opportunities. It’s location-based and that’s a providing capabilities and providing richer data to real advantage.” select partners who are participating in this space to ultimately provide a better consumer experience in “There is a seismic shift taking place with regard to the context of a car.” how people look at privacy and from a consumer driver perspective that is going to be a big piece of how people think about this marketplace.” 12 | The quest for telematics 4.0