Connected car data can be used to make many tasks easier. For example, keeping a logbook of vehicle mileage for business purposes, evaluating the extent and cost of damage after a collision, and allowing drivers to control the information that is monitored by their insurance company are problems that have been time-consuming, prone to errors and lacking in transparency.
Seeking new use cases for the vast amount of data that is generated by connected cars, and solving common problems faced by drivers, Porsche Cars North America (PCNA) is hosting a contest open to developer teams from other companies, the automaker announced in a press release. Dubbed the Porsche Data Cup, the competition is modeled after a similar event held last year in Europe.
Contestants are invited to develop business models for smart home, financial and e-mobility applications. Porsche will give the participants access to a car emulator that will enable them to test their applications in a simulation that mirrors the real world, together with realistic vehicle data.
The winning teams will have the chance to further develop their prototypes with Porsche experts and receive access to a Porsche program that helps third-party providers develop new services based on vehicle data.
“As we continue to refine and enhance the Porsche customer experience, we are excited to share our resources with and encourage young companies passionate about developing and shaping the future of mobility,” PCNA President and CEO Dr. Kjell Gruner said in a press release.
Using Data to Solve Common Problems
The three winners of the European Porsche Data Cup used connected car data to solve problems related to keeping driving records, processing insurance claims and determining insurance rates.
AutoLogg developed a digital logbook. When drivers keep records of their driving for business purposes or other reasons, they often do so manually, which takes time and is prone to errors.
The European Porsche Data Cup winning entry from AutoLogg communicates directly with the vehicle via a programming interface, tracks journeys in real time, enables drivers to classify them as business or private trips and add notes, and then transfers them to a tax-compliant logbook.
Swiss Re won an award for its solution for processing insurance claims. Assessing vehicle damage after an accident is a complicated and often paper-based process that can take days to complete.
The award-winning solution from Swiss Re uses the vehicle’s own sensors to determine which parts are damaged, transmits that data to Swiss Re’s systems, enables the driver to upload photos of the vehicle and uses artificial intelligence to determine whether the parts can be repaired or replaced and the cost.
“Smart Claims 2.0 transforms the current claims journey into a digital end-to-end process, creating and leveraging data driven insights: Crash to Cost Prediction … in minutes,” Swiss Re said in a LinkedIn post after being selected as a winner.
Developing Modern Business Models
HDI, another of the three winners of the European Porsche Data Cup, was recognized for its transparent and tailored solution for calculating insurance rates. Drivers want insurance that matches the way they drive but may be reluctant to be monitored by the insurance company.
In the project recognized by Porsche, HDI developed an app that enables drivers to choose whether to share data from their connected car with the insurance company. For example, they can specify whether they want to share data about the distance they drive and whether they use vehicle safety systems such as Lane Keeping Assist.
“All submissions distinguished themselves with the high quality and intelligent use of data,” Christoph Acker, project manager for innovation strategy at Porsche, said in a press release. “In today’s business ecosystem, we must work and think in a networked way for modern business models to offer our customers the best possible experience.”
The U.S. Porsche Data Cup is to begin on March 7 and the winning projects are to be announced in the spring.
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