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Klaus-Peter Röhler, Member of the Board of Management of Allianz SE: ”We welcome the EU Data Act.”Business Wire
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11th Allianz Motor Day: Allianz welcomes the EU Data Act – but sees further need for regulation on secure exchange of vehicle data
Vehicle owners should have full control and sovereignty: they decide who can use the data from their vehicle for specific purposes
Allianz calls for a regulated marketplace for data exchange and for vehicle manufacturers to demand fair prices for providing data
The new regulation can strengthen the European digital economy and make our transport systems more sustainable, safer and more effective
Allianz sees major customer benefits: the EU Data Act enables even more individualized and risk-based insurance premiums, improved accident prevention and smarter claims management in car insurance
An Allianz survey conducted in five European countries shows that a growing number of car drivers are willing to share their car data with their insurer
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MUNICH — A new EU law aims to make data from connected vehicles usable – for the benefit of vehicle owners, to improve road safety and to enable sustainable digital innovation.
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The EU Data Act was the main topic at the 11th Allianz Motor Day on October 17, 2023. Experts discussed the new regulation at the Allianz Center for Technology (AZT) in Ismaning.
Vehicle data, used wisely, makes the transport system safer, cleaner, smarter
Allianz’s assessment was clear: “We welcome the EU Data Act,” said Klaus-Peter Röhler, Member of the Board of Management of Allianz SE. “The new law stands for innovation and competition – it is a European initiative to strengthen the European digital economy. The new EU regulation follows a convincing principle: ‘My device, my data’ – we support this idea.” Users of a connected car, according to the new legislation, will in future be able to demand from the manufacturer that the data collected in the vehicle be transferred to third parties. For “easily accessible data,” the EU Data Act even requires the data to be made available in real time.
This, Röhler said, could lead to real innovations: “We want to convince our customers in car insurance, through attractive offers, to share their data with us. The EU Data Act would also give other companies and start-ups the chance to become inventive. Using millions of live camera and position data from vehicles could solve the parking-space problem in inner cities. This would not only be a win for drivers, it would also save significant amounts of energy, help climate protection and improve air quality. If vehicle data is used wisely, it has the potential to make our transportation system safer, cleaner and smarter overall.”
How the EU Data Act could change car insurance
With detailed data from the vehicle, completely new insurance offers can be provided and new services made available in the future. “In case of an accident, it would be possible to automatically record the extent of the damage in real time by evaluating position data and data from crash sensors. Allianz could immediately inform a towing service, reserve a rental car, order suitable spare parts and make a workshop appointment for our customer. In the case of serious accidents, medical assistance could be provided,” Röhler said.
“In the past, the customer had to inform us. In the future, we’d contact our customers proactively, providing relief when customers need us most.”
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Röhler also pointed out that by using car data, Allianz can offer the fairest possible price to every customer. “We can calculate insurance offers that are significantly more risk-adjusted, taking into account both the driving style and whether the vehicle is equipped with safety systems and whether those are switched on or off. At the same time, the sensor and camera data can be used for the proper, correct and fair investigation of an accident and for liability clarification,” Röhler said.
Data sent directly from the vehicle will take on special significance when autonomous and AI-supported systems control the vehicle in the future. “Those affected – as well as society – have a right to know whether the human or the machine caused the accident,” Röhler said.
A recent Allianz survey conducted in five European countries shows that a majority of car drivers are willing to share their car data with their insurer if they receive comprehensive service support in return: in Germany it’s 53 percent, in Great Britain even 61 percent. “This is a very important message for us, which we can be proud of: our customers know that they can trust us, because we will handle their data with care and in their own best interest,” Röhler said, commenting on the survey results.
True competition can exist only with fair prices
Discussions at the 11th Allianz Motor Day also revolved around the question of how third parties can access in-car data in practice. The EU Data Act stipulates that “easily accessible data” must be transmitted in real time – but what data is that? And what price may the car manufacturer charge for transmitting the data to third parties? “Real competition can only emerge if vehicle manufacturers demand fair prices. Otherwise, third parties have no chance to innovate,” Röhler said.
Legal framework for data transfer is missing
But what should an individual customer do with the data of their vehicle? And above all, how should they access the data and pass it on? This can only work if there is a very simple way for the individual to transfer the data in practice. “The EU Data Protection Act only creates the legal basis for the transfer of data from the vehicle to third parties. However, the legal framework is still missing that specifies in which technical way the data from the vehicle can be made usable for all market participants,” Röhler said. “Legislators must find a practicable solution for this as quickly as possible, otherwise the treasure trove of data cannot be mined for the benefit of customers and of all participants.”
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Regarding the use of vehicle data, Allianz demands the following:
1. Vehicle owners must be given full transparency about the data collected in their vehicle. Every car owner must be given a precise overview so that they know what data is being collected in their vehicle. In addition, it must be possible to see which of these data points can be transmitted to third parties in real time.
2. In order for car owners to be able to make good use of the newly acquired sovereignty over their vehicle data, a standardized minimum data set is needed to enable new services regardless of the car manufacturer and to allow data to be shared quickly and easily in real time via defined interfaces if the owner so desires.
3. Allianz calls for a regulated marketplace and an independent data trustee who ensures the secure exchange of vehicle data. This independent institution must ensure that authorized parties can access data.
4. So that drivers can benefit from the many conceivable innovations, we need fair prices for data transmission to third parties. The costs must be calculable to enable broad competition.
All press materials and the recording of the entire event, as well as information on the EU Data Act, can be found here:
About Allianz The Allianz Group is one of the world’s leading insurers and asset managers with more than 122 million* private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 714 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.7 trillion euros** of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2022, over 159,000 employees achieved total revenues of 152.7 billion euros and an operating profit of 14.2 billion euros for the group***.
* Including non-consolidated entities with Allianz customers. **As of June 30, 2023. *** As reported – not adjusted to reflect the application of IFRS 9 and IFRS 17.
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These assessments are, as always, subject to the disclaimer provided below.
Cautionary note regarding forward-looking statements This document includes forward-looking statements, such as prospects or expectations, that are based on management’s current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.
Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation with respect to the Allianz Group, other well-known companies and the financial services industry generally, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) mortality and morbidity levels and trends, (vi) persistency levels, (vii) the extent of credit defaults, (viii) interest rate levels, (ix) currency exchange rates, most notably the EUR/USD exchange rate, (x) changes in laws and regulations, including tax regulations, (xi) the impact of acquisitions including and related integration issues and reorganization measures, and (xii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level. Many of these changes can be exacerbated by terrorist activities.
No duty to update Allianz assumes no obligation to update any information or forward-looking statement contained herein, save for any information we are required to disclose by law.
Privacy Note Allianz SE is committed to protecting your personal data. Find out more in our privacy statement.
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Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – Canada’s main stock index was up more than 250 points in late-morning trading, led by strength in the base metal and technology sectors, while U.S. stock markets also charged higher.
The S&P/TSX composite index was up 254.62 points at 23,847.22.
In New York, the Dow Jones industrial average was up 432.77 points at 41,935.87. The S&P 500 index was up 96.38 points at 5,714.64, while the Nasdaq composite was up 486.12 points at 18,059.42.
The Canadian dollar traded for 73.68 cents US compared with 73.58 cents US on Thursday.
The November crude oil contract was up 89 cents at US$70.77 per barrel and the October natural gas contract was down a penny at US2.27 per mmBTU.
The December gold contract was up US$9.40 at US$2,608.00 an ounce and the December copper contract was up four cents at US$4.33 a pound.
This report by The Canadian Press was first published Sept. 19, 2024.
VANCOUVER – Supervised injection sites are saving the lives of drug users everyday, but the same support is not being offered to people who inhale illicit drugs, the head of the BC Centre for Excellence in HIV/AIDS says.
Dr. Julio Montaner said the construction of Vancouver’s first indoor supervised site for people who inhale drugs comes as the percentage of people who die from smoking drugs continues to climb.
The location in the Downtown Eastside at the Hope to Health Research and Innovation Centre was unveiled Wednesday after construction was complete, and Montaner said people could start using the specialized rooms in a matter of weeks after final approvals from the city and federal government.
“If we don’t create mechanisms for these individuals to be able to use safely and engage with the medical system, and generate points of entry into the medical system, we will never be able to solve the problem,” he said.
“Now, I’m not here to tell you that we will fix it tomorrow, but denying it or ignoring it, or throw it under the bus, or under the carpet is no way to fix it, so we need to take proactive action.”
Nearly two-thirds of overdose deaths in British Columbia in 2023 came after smoking illicit drugs, yet only 40 per cent of supervised consumption sites in the province offer a safe place to smoke, often outdoors, in a tent.
The centre has been running a supervised injection site for years which sees more than a thousand people monthly and last month resuscitated five people who were overdosing.
The new facilities offer indoor, individual, negative-pressure rooms that allow fresh air to circulate and can clear out smoke in 30 to 60 seconds while users are monitored by trained nurses.
Advocates calling for more supervised inhalation sites have previously said the rules for setting up sites are overly complicated at a time when the province is facing an overdose crisis.
More than 15,000 people have died of overdoses since the public health emergency was declared in B.C. in April 2016.
Kate Salters, a senior researcher at the centre, said they worked with mechanical and chemical engineers to make sure the site is up to code and abidies by the highest standard of occupational health and safety.
“This is just another tool in our tool box to make sure that we’re offering life-saving services to those who are using drugs,” she said.
Montaner acknowledged the process to get the site up and running took “an inordinate amount of time,” but said the centre worked hard to follow all regulations.
“We feel that doing this right, with appropriate scientific background, in a medically supervised environment, etc, etc, allows us to derive the data that ultimately will be sufficiently convincing for not just our leaders, but also the leaders across the country and across the world, to embrace the strategies that we are trying to develop.” he said.
Montaner said building the facility was possible thanks to a single $4-million donation from a longtime supporter.
Construction finished with less than a week before the launch of the next provincial election campaign and within a year of the next federal election.
Montaner said he is concerned about “some of the things that have been said publicly by some of the political leaders in the province and in the country.”
“We want to bring awareness to the people that this is a serious undertaking. This is a very massive investment, and we need to protect it for the benefit of people who are unfortunately drug dependent.” he said.
This report by The Canadian Press was first published Sept. 18, 2024.
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