Innovation at Its Best Essay example

1747 Words Jan 13th, 2013 7 Pages
Innovation at Its Best
ENT-435: Intrapreneurship and Innovation
Grand Canyon University
December 1, 2012

Innovation at Its Best
The need for automobile insurance on all vehicles is not only a necessity but also the law. There are numerous drivers on the roads today that are underinsured or have no insurance to begin with. These facts can be very expensive in the event that a driver is in an automobile accident without insurance. What can be done to ensure that the problem of driving without insurance is rectified or at a minimal? How will the public benefit from investing in the solution to this problem? These are the type of questions reviewed when the Blue Ocean Strategy was chosen in the development of the Driver’s Insurance
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It is imperative to have a failsafe system in the design that would allow the consumer to start their car even in the event that their DIL is lost or stolen. In the event that their card is lost or stolen, the use for a four-digit pin code and personal thump reader would activate the vehicle. Car makers needed assurance that extra money put into the vehicle to make it enable to start without the proper documentation or passcodes were nominal at best. It was determined that the Biometric thump print reader would cost $85 - $100 to manufacture and the DIL reader would cost around $10 to manufacture. That would put the cost of these two items between $95 -$110 to build and would retail in the vehicles for $300 for the standard DIL reader and $500 for the fail-safe version that includes the thumb reader. This option would require Wi-Fi capability to transmit insurance coverage via the DIL card to the internal reader that allows for real time coverage verification. Participating insurance companies will provide this service for a nominal fee of $5-$10 a month depending on coverage of the vehicle. To determine the value that consumer placed on the DIL a small populous participated in a six-month trail to see if they felt it were worth the money. The results from the trail showed 85% of the consumers determined it was worth the extra money to get the device installed in their vehicles and to pay for the upgrade from the regular State

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