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AEGON Delivers Strong Earnings Growth and Increased Value of New Business

THE HAGUE, The Netherlands, November 8, 2012 /PRNewswire/ --

  • Higher earnings driven by growth, lower expenses and favorable currency movements
  • Underlying earnings increase to EUR 472 million, including a positive effect of EUR 17 million
    as one-time provision releases were partly offset by the negative effect of assumption updates
  • Net income of EUR 374 million driven by higher underlying earnings, lower impairments and the non-recurrence of charges in the comparable quarter last year partly offset by higher taxes
  • Return on equity increases to 7.7%, and 8.6% excluding run-off businesses

To view the Multimedia News Release, please click:

http://www.multivu.com/mnr/58637-aegon-quarter-3-results

  • Sales stable - higher accident & health sales offset by lower deposits
  • New life sales level at EUR 405 million; strong sales in the US offset by NL, UK and Spain
  • Accident & health sales increase 24% to EUR 190 million driven by growth in the Americas
  • Deposits decline 10% to EUR 9.4 billion, reflecting lower stable value deposits
  • Market consistent value of new business increases strongly to EUR 173 million as a result of product repricing and improved margins

  • Continued strong capital position and cash flows
  • Capital base ratio of 75.0%, in line with target of at least 75% by year-end 2012
  • IGDa) solvency ratio increases to 222%
  • Operational free cash flow of EUR 448 million, excluding market impact of EUR (407) million

Statement of Alex Wynaendts, CEO

"During the third quarter, we were again able to capture the benefits of AEGON's strategic priorities, resulting in solid earnings growth, improved profitability of sales, lower expenses and a continued strong capital position. Our franchise remains healthy, as evidenced by the particularly high level of At-Retirement and pension sales. At the same time, we are making essential investments to reshape our businesses in both our established and developing markets to respond effectively to the changing conditions and new realities. Although there are signs of gradually improving market conditions, there remains considerable uncertainty in the general economic environment. Consequently, we believe it is prudent and necessary to maintain a sufficient financial buffer while at the same time adhering to our strict risk and pricing discipline. The steps we are taking across our organization to get closer to our end customers, combined with the strength of our current position, give us full confidence in the prospects for our business going forward."

    Key performance indicators
 
                                                   Q3    Q2        Q3       YTD   YTD
    amounts in EUR millions b)            Notes  2012  2012   %  2011   %  2012  2011   %
 
    Underlying earnings before tax            1   472   443   7   361  31 1,340 1,176  14
 
    Net income                                2   374   254  47    60   - 1,149   791  45
 
    Sales                                     3 1,550 1,604 (3) 1,620 (4) 4,912 4,292  14
 
    Market consistent value of new business   4   173   117  48    93  86   415   351  18
 
    Return on equity                          5  7.7%  6.8%  13  6.8%  13  7.0%  7.4% (5)


STRATEGIC HIGHLIGHTS

  • Aegon launches a new online banking platform in the Netherlands
  • Workplace Savings platform launched in the United Kingdom
  • Aegon regains its place in the Dow Jones Sustainability European Index

Aegon's ambition

Aegon's aim to be a leader in all of its chosen markets by 2015 is supported by four strategic objectives: Optimize Portfolio, Enhance Customer Loyalty, Deliver Operational Excellence and Empower Employees. These key objectives have been embedded in all Aegon businesses. They provide the strategic framework for the company's ambition to become the most-recommended
life insurance and pension provider by customers and intermediaries, as well as the most-preferred employer in the sector.

Continued economic uncertainty has increased the opportunities for Aegon in pursuing its clear purpose of helping people take responsibility for their financial future. To capture these opportunities, Aegon will accelerate the development of new business models by investing in innovative, technology-driven distribution channels, to connect better and more frequently with customers, improve service levels and increase retention rates. Aegon's accelerated investments in technology will also better support intermediaries adapt to the changing distribution environment.

In recent years, Aegon has implemented a broad restructuring program to sharpen its focus on its core lines of business, significantly reduce its overall cost base, and create greater efficiencies across the organization. This has resulted in a better balance between spread-based and fee-generating business, a substantially improved risk-return profile, the divestment of non-core businesses, a lower cost base, and an improved capital base ratio.

Optimize portfolio

At the end of September, Aegon launched a new online bank in the Netherlands, called "Knab". This innovative new platform gives customers increased insight into their financial situation and uses state-of-the-art technology to provide easier lifetime financial planning. Knab also allows the company to interact with customers in real-time and to use client feedback to ensure that all offered solutions meet customer needs.

In the United Kingdom, to capture opportunities in the At-Retirement market, Aegon launched its new platform proposition called "Aegon Retirement Choices" in November 2011. The company recently added its Workplace Savings proposition to the platform with the unique feature of allowing customers to remain on the platform as an individual customer throughout retirement. Pension reform and the Retail Distribution Review will transform pension products and services and how they are distributed. Aegon's platform offers a compelling solution to advisers, employers, and their employees. Positive market response has helped the company secure a number of strategic distribution agreements, reaffirming Aegon's leading role in the pensions and At-Retirement market.

On October 1, 2012, Aegon Asset Management closed the transaction to sell its minority stake in Prisma Capital Partners, a provider of hedge fund solutions, to KKR for a total consideration of
EUR 100 million. Prisma's contribution to underlying earnings totaled EUR 8 million for the first
nine months of 2012.

Aegon expects that the consolidation of Spanish savings banks will lead to exiting one or more of its joint ventures in Spain. Following the announced merger between Banca Cívica and CaixaBank, Aegon reached an agreement to end the life, health and pension partnership with Banca Cívica and to sell its 50% interest in the joint venture to CaixaBank for a total consideration of EUR 190 million. The transaction was closed on October 11, 2012 and will result in a book gain of EUR 35 million before tax which will be accounted for in the fourth quarter of 2012. Aegon's share in underlying earnings before tax of the joint venture totaled EUR 13 million for the first nine months of 2012.

Deliver operational excellence

In the Netherlands, Aegon is on track with reorganizing its business to be more agile and better positioned to respond to changing conditions and opportunities in the Dutch market. The reorganization program, and other initiatives, will result in reducing the cost base for Aegon the Netherlands by EUR 100 million, compared to the cost base for 2010. The cost savings aim to offset pressure on underlying earnings from increased longevity provisioning and a declining life insurance back-book. Up to and including the third quarter, Aegon has implemented costs savings of EUR 80 million.

Aegon retained its place in the Dow Jones Sustainability World Index for 2012-2013, and regained its position in the European index after a one-year absence. This was due to a significant improvement in the company's overall sustainability rating. Aegon has made substantial progress in several key areas. In particular, the company has improved its approach to human resources, brand and customer relationship management. The introduction of a company-wide framework governing pay and remuneration, as well as the further progress of Aegon's talent management program also strengthened overall performance. In addition to the DJSI, Aegon is included in the FTSE4Good Index, and was recently admitted to Vigeo's Advanced Sustainability Performance Index for euro zone companies.

    Financial overview c)
 
    EUR millions           Notes Q3 2012 Q2 2012    % Q3 2011    % YTD 2012 YTD 2011    %
 
    Underlying earnings before tax
    Americas                         344     339    1     307   12      975      957    2
    The Netherlands                   82      71   15      68   21      232      223    4
    United Kingdom                    26      25    4       9  189       80       31  158
    New markets                       70      64    9      46   52      222      184   21
    Holding and other               (50)    (56)   11    (69)   28    (169)    (219)   23
    Underlying earnings before tax   472     443    7     361   31    1,340    1,176   14
 
    Fair value items               (126)     101    -   (288)   56      131    (396)    -
    Realized gains / (losses) 
    on investments                   128      85   51     102   25      258      397 (35)
    Impairment charges              (35)    (42)   17   (132)   73    (118)    (294)   60
    Other income / (charges)           3   (254)    -    (54)    -    (268)     (73)    -
    Run-off businesses                12       6  100     (5)    -       16       27 (41)
    Income before tax                454     339   34    (16)    -    1,359      837   62
    Income tax                      (80)    (85)    6      76    -    (210)     (46)    -
    Net income                       374     254   47      60    -    1,149      791   45
 
    Net income / (loss) 
    attributable to:
    Equity holders of Aegon N.V.     373     254   47      60    -    1,148      790   45
    Non-controlling interests          1       -    -       -    -        1        1    -
 
    Net underlying earnings          369     337    9     308   20    1,034      980    6
 
    Commissions and expenses       1,382   1,570 (12)   1,575 (12)    4,351    4,588  (5)
    of which 
    operating expenses        11     798     814  (2)     886 (10)    2,393    2,570  (7)
 
    New life sales
    Life single premiums           1,125   1,068    5   1,073    5    3,353    3,988 (16)
    Life recurring premiums 
    annualized                       293     321  (9)     298  (2)      943      938    1
    Total recurring 
    plus 1/10 single                 405     428  (5)     405    -    1,278    1,337  (4)
 
    New life sales
    Americas                  12     126     126    -     103   22      372      309   20
    The Netherlands                   25      23    9      32 (22)       80      137 (42)
    United Kingdom                   206     211  (2)     199    4      630      663  (5)
    New markets               12      48      68 (29)      71 (32)      196      228 (14)
    Total recurring 
    plus 1/10 single                 405     428  (5)     405    -    1,278    1,337  (4)
 
    New premium production 
    accident and 
    health insurance                 190     187    2     153   24      572      457   25
    New premium production 
    general insurance                 12      13  (8)      12    -       39       39    -
 
    Gross deposits (on and off balance)
    Americas                  12   6,391   6,644  (4)   7,376 (13)   20,427   18,019   13
    The Netherlands                  275     367 (25)     584 (53)    1,202    1,488 (19)
    United Kingdom                     5       9 (44)      11 (55)       22       47 (53)
    New markets               12   2,755   2,737    1   2,525    9    8,575    5,034   70
    Total gross deposits           9,426   9,757  (3)  10,496 (10)   30,226   24,588   23
 
    Net deposits (on and off balance)
    Americas                  12     904     738   22   2,840 (68)    2,703    3,033 (11)
    The Netherlands                (480)    (66)    -      54    -    (731)    (174)    -
    United Kingdom                   (6)     (1)    -       1    -      (8)       17    -
    New markets               12   1,208     619   95   1,502 (20)    3,191  (2,704)    -
    Total net deposits 
    excluding run-off businesses   1,626   1,290   26   4,397 (63)    5,155      172    -
    Run-off businesses             (301)   (479)   37 (1,121)   73  (1,940)  (2,528)   23
    Total net deposits             1,325     811   63   3,276 (60)    3,215  (2,356)    -
 
    Revenue-generating investments
 
                                                                 Sept.     June
                                                                   30,      30,
                                                                  2012     2012    %
    Revenue-generating investments (total)                     463,041  451,988    2
    Investments general account                                147,955  147,065    1
    Investments for account of policyholders                   156,831  151,633    3
    Off balance sheet investments third parties                158,255  153,290    3


OPERATIONAL HIGHLIGHTS

Underlying earnings before tax

Aegon's underlying earnings before tax increased 31% to EUR 472 million in the third quarter of 2012. This is the result of business growth, a strong delivery on cost reduction programs, favorable markets and currency movements. Earnings included a positive effect of EUR 17 million, as one-time provision releases of EUR 39 million were partly offset by the negative effect of customer behavior assumption updates of EUR 22 million.

Underlying earnings from the Americas rose to EUR 344 million. The 12% increase compared to the third quarter of 2011 is due to underlying growth in the business, and a strengthening of the US dollar against the euro offset by the non-recurrence of favorable items last year. Earnings in the third quarter also included a one-time benefit from changes in post-retirement benefit plans of EUR 27 million, while the net negative impact of assumption changes amounted to EUR 29 million.

In the Netherlands, underlying earnings increased 21% to EUR 82 million. This increase was mainly the result of higher earnings in Life & Savings which included a one-time provision release of EUR 8 million, partly offset by lower margins in Pensions and Non-life.

In the United Kingdom, underlying earnings increased to EUR 26 million. This strong improvement in earnings compared to the same period last year, was driven by the non-recurrence of extraordinary charges and the successful implementation of the cost reduction program. Earnings were negatively impacted by adverse persistency and investments in new propositions in the pension business. It is expected that this will continue in coming quarters.

Underlying earnings from New Markets increased 52% to EUR 70 million. Higher results of Aegon Asset Management, as well as from Asia and Central & Eastern Europe were partly offset by lower underlying earnings from Spain and Variable Annuities Europe.

Total holding costs decreased 28% to EUR 50 million as a result of Aegon's Corporate Center expenses being charged, in part, to operating units as of the first quarter 2012. These charges reflect the services and support provided to operating units by the Corporate Center. Charges to operating units in the third quarter of 2012 amounted to EUR 16 million.

Net income

Net income increased to EUR 374 million as higher underlying earnings and realized gains on investments, more favorable results on fair value items and lower impairments were only partly offset by higher tax charges.


Fair value items

The results from fair value items amounted to a loss of EUR 126 million. The most important contributors to the loss were the negative results from the equity hedge programs in the United States and the United Kingdom, negative revaluation of direct real estate investments in the Netherlands and the impact of lower credit spreads on the valuation of Aegon bonds.


Realized gains on investments

In the third quarter, realized gains on investments amounted to EUR 128 million and were mainly the result of normal trading activity in the investment portfolio.

Impairment charges

Net impairments improved significantly and amounted to EUR 35 million. Gross impairments remained relatively stable compared to previous quarters and were primarily linked to residential mortgage-backed securities in the United States, partly offset by strong recoveries.


Other income

Other income amounted to EUR 3 million, mainly the result of UK policyholder tax with an equal
and opposite charge in the tax income line offset by restructuring charges of EUR 3 million in
the Netherlands and a one-time provision of EUR 5 million in Poland.


Run-off businesses

The results of run-off businesses amounted to EUR 12 million and were driven by improved results

on the institutional spread-based business and BOLI/COLI, only partly offset by lower results from payout annuities.


Income tax

Income tax amounted to EUR 80 million in the third quarter, translating into an effective tax rate of 18%. The main drivers of the lower than nominal tax rate were tax exempt income in the Americas and the Netherlands, tax credits and the benefit of a tax rate decrease in the United Kingdom.

Return on equity

The increase in return on equity to 7.7% for the third quarter of 2012, was driven by the positive effect of growth in net underlying earnings only partly mitigated by higher shareholders' equity excluding revaluation reserves. Return on equity for Aegon's ongoing businesses, excluding the run-off businesses, amounted to 8.6% over the same period.


Operating expenses

In the third quarter, operating expenses decreased 10% to EUR 798 million as a result of cost savings, lower restructuring charges and the one-time benefit of changes in post-retirement benefit plans in the United States. On a comparable basis, operating expenses decreased 4% compared with the third quarter of 2011.


Sales

Aegon's total sales amounted to EUR 1.6 billion. New life sales were stable, as increased sales in
the Americas and the effects of favorable currency movements were offset by lower sales in the Netherlands, the United Kingdom and Spain. In Spain, sales declined mainly as a result of lower production at joint venture partners due to a number of adverse developments in the Spanish market, as well as the exclusion of sales from its partnership with CAM. Gross deposits remained strong for the variable annuity, retirement plan and asset management businesses, partly offset by lower stable value deposits. New premium production for accident & health insurance increased, mainly driven by strong travel insurance sales in the United States.


Market consistent value of new business

The market consistent value of new business increased to EUR 173 million mainly as a result
of product repricing in the United States, a higher contribution from mortgage production in
the Netherlands and improved margins in the UK annuity business.


Revenue-generating investments 

Revenue-generating investments rose 2% compared to the second quarter-end 2012 to EUR 463 billion at September 30, 2012. This was mainly the result of favorable markets and net inflows.

Capital management
Aegon's core capital excluding revaluation reserves amounted to EUR 18.7 billion, equivalent to 75.0%6 of the company's total capital base at September 30, 2012. This is in line with the company's capital base ratio target of at least 75% by the end of 2012.

Shareholders' equity increased to EUR 24.5 billion. This increase was mainly a result of the third quarters' net income and an increase in the revaluation reserves. The revaluation reserves increased by EUR 1.4 billion during the third quarter to EUR 5.9 billion, mainly a reflection of lower credit spreads and interest rates. Shareholders' equity per common share, excluding preference capital
and revaluation reserves, amounted to EUR 8.50 at September 30, 2012.

In 2012, Aegon aims to maintain excess capital at the holding of at least EUR 750 million. During
the third quarter, excess capital in the holding remained stable at EUR 1.6 billion. The dividends received from operating units were offset by interest payments, dividends on common shares and operational expenses.

At September 30, 2012, Aegon's Insurance Group Directive (IGD) ratio amounted to 222%, an increase from the level of 216% at the end of the second quarter. Measured on a local solvency
basis, the Risk Based Capital (RBC) ratio in the United States increased to ~480%. This was the result of a combination of strong net income and a capital management transaction that made
USD 575 million of additional regulatory capital available, partly offset by dividends paid to the holding company. The IGD ratio in the Netherlands decreased slightly to ~255% mainly the result
of lower interest rates and credit spreads, while the Pillar I ratio in the United Kingdom remained level at ~130% at the end of the third quarter of 2012.


Cash flows

Operational free cash flow amounted to EUR 41 million. Excluding negative market impacts of
EUR 407 million, the operational free cash flows amounted to EUR 448 million. Market impacts related mainly to lower interest rates and narrowing credit spreads. Operational free cash flows excluding market impacts were particularly strong during the quarter, mainly the effect of model refinements.

Operational free cash flows represent the distributable earnings generated by the business units.
The impact of capital preservation initiatives is not included in the reported operational free cash flows. Aegon is on track to improve operational free cash flow from its 2010 normalized level of
EUR 1.0-1.2 billion per annum by 30% by 2015.

ADDITIONAL INFORMATION

The Hague, November 8, 2012

Media conference call

7:45 a.m. CET
Podcast available after the call on aegon.com

Analyst & investor conference call

9:00 a.m. CET
Audio webcast on aegon.com

Dial-in numbers

United States: +1-480-629-9673
United Kingdom: +44-207-153-2027
The Netherlands: +31-45-631-6905

Two hours after the conference call, a replay will be available on aegon.com.

Supplements

Aegon's Q3 2012 Financial Supplement and Condensed Consolidated Interim Financial Statements are available on aegon.com.

Use this link for the full version of the press release: http://www.aegon.com/en/Home/Media/Press-Releases/2012/2012/AEGON-delivers-strong-earnings-growth-and-increased-value-of-new-business-/

DISCLAIMERS

Cautionary note regarding non-GAAP measures

This document includes certain non-GAAP financial measures: underlying earnings before tax and market consistent value of new business. The reconciliation of underlying earnings before tax to the most comparable IFRS measure is provided in Note 3 "Segment information" of Aegon's Condensed consolidated interim financial statements. Market consistent value of new business is not based on IFRS, which are used to report Aegon's primary financial statements and should not be viewed as a substitute for IFRS financial measures. Aegon may define and calculate market consistent value of new business differently than other companies. Aegon believes that these non-GAAP measures, together with the IFRS information, provide meaningful supplemental information that Aegon's management uses to run its business as well as useful information for the investment community to evaluate Aegon's business relative to the businesses of its peers.

Local currencies and constant currency exchange rates

This document contains certain information about Aegon's results, financial condition and revenue generating investments presented in USD for the Americas and GBP for the United Kingdom, because those businesses operate and are managed primarily in those currencies. Certain comparative information presented on a constant currency basis eliminates the effects of changes in currency exchange rates. None of this information is a substitute for or superior to financial information about Aegon presented in EUR, which is the currency of Aegon's primary financial statements.

Forward-looking statements

The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, is confident, will, and similar expressions as they relate to Aegon. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:

  • Changes in general economic conditions, particularly in the United States, the Netherlands and the United Kingdom;
  • Changes in the performance of financial markets, including emerging markets, such as with regard to:
  • The frequency and severity of defaults by issuers in Aegon's fixed income investment portfolios;
  • The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities Aegon holds; and
  • The effects of declining creditworthiness of certain private sector securities and the resulting decline in the value of sovereign exposure that Aegon holds;
  • Changes in the performance of Aegon's investment portfolio and decline in ratings of  Aegon's counterparties;
  • Consequences of a potential (partial) break-up of the euro;
  • The frequency and severity of insured loss events;
  • Changes affecting mortality, morbidity, persistence and other factors that may impact the profitability of Aegon's insurance products;
  • Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet their obligations;
  • Changes affecting interest rate levels and continuing low or rapidly changing interest rate levels; changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;
  • Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;
  • Increasing levels of competition in the United States, the Netherlands, the United Kingdom and emerging markets;
  • Changes in laws and regulations, particularly those affecting Aegon's operations, ability to hire and retain key personnel, the products Aegon sells, and the attractiveness of certain products to its consumers;
  • Regulatory changes relating to the insurance industry in the jurisdictions in which Aegon operates;
  • Changes in customer behavior and public opinion in general related to, among other things, the type of products also Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations;
  • Acts of God, acts of terrorism, acts of war and pandemics;
  • Changes in the policies of central banks and/or governments;
  • Lowering of one or more of Aegon's debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegon's ability to raise capital and on its liquidity and financial condition;
  • Lowering of one or more of insurer financial strength ratings of Aegon's insurance subsidiaries and the adverse impact such action may have on the premium writings, policy retention, profitability and liquidity of its insurance subsidiaries;
  • The effect of the European Union's Solvency II requirements and other regulations in other jurisdictions affecting the capital Aegon is required to maintain;
  • Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business;
  • As Aegon's operations support complex transactions and are highly dependent on the proper functioning of information technology, a computer system failure or security breach may disrupt Aegon's business, damage its reputation and adversely affect its results of operations, financial condition and cash flows;
  • Customer responsiveness to both new products and distribution channels;
  • Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for Aegon's products;
  • Changes in accounting regulations and policies may affect Aegon's reported results and shareholder's equity;
  • The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegon's ability to integrate acquisitions and to obtain the anticipated results and synergies from acquisitions;
  • Catastrophic events, either manmade or by nature, could result in material losses and significantly interrupt Aegon's business; and
  • Aegon's failure to achieve anticipated levels of earnings or operational efficiencies as well as other cost saving initiatives.

Further details of potential risks and uncertainties affecting Aegon are described in its filings with NYSE Euronext Amsterdam and the US Securities and Exchange Commission, including the Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About Aegon

As an international insurance, pensions and asset management company based in The Hague, Aegon has businesses in over twenty markets in the Americas, Europe and Asia. Aegon companies employ approximately 25,000 people and have nearly 47 million customers across the globe. Further information: aegon.com.

Media relations
Greg Tucker
+31(0)70-344-8956
[email protected]

 

Investor relations
Willem van den Berg
+31(0)70-344-8305
[email protected]  

 

PRN NLD

Video: http://www.multivu.com/mnr/58637-aegon-quarter-3-results

SOURCE AEGON N.V.

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The explosion of connected devices / sensors is creating an ever-expanding set of new and valuable data. In parallel the emerging capability of Big Data technologies to store, access, analyze, and react to this data is producing changes in business models under the umbrella of the Internet of Things (IoT). In particular within the Insurance industry, IoT appears positioned to enable deep changes by altering relationships between insurers, distributors, and the insured. In his session at @ThingsExpo, Michael Sick, a Senior Manager and Big Data Architect within Ernst and Young's Financial Servi...
PubNub on Monday has announced that it is partnering with IBM to bring its sophisticated real-time data streaming and messaging capabilities to Bluemix, IBM’s cloud development platform. “Today’s app and connected devices require an always-on connection, but building a secure, scalable solution from the ground up is time consuming, resource intensive, and error-prone,” said Todd Greene, CEO of PubNub. “PubNub enables web, mobile and IoT developers building apps on IBM Bluemix to quickly add scalable realtime functionality with minimal effort and cost.”
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
With several hundred implementations of IoT-enabled solutions in the past 12 months alone, this session will focus on experience over the art of the possible. Many can only imagine the most advanced telematics platform ever deployed, supporting millions of customers, producing tens of thousands events or GBs per trip, and hundreds of TBs per month. With the ability to support a billion sensor events per second, over 30PB of warm data for analytics, and hundreds of PBs for an data analytics archive, in his session at @ThingsExpo, Jim Kaskade, Vice President and General Manager, Big Data & Ana...
In the consumer IoT, everything is new, and the IT world of bits and bytes holds sway. But industrial and commercial realms encompass operational technology (OT) that has been around for 25 or 50 years. This grittier, pre-IP, more hands-on world has much to gain from Industrial IoT (IIoT) applications and principles. But adding sensors and wireless connectivity won’t work in environments that demand unwavering reliability and performance. In his session at @ThingsExpo, Ron Sege, CEO of Echelon, will discuss how as enterprise IT embraces other IoT-related technology trends, enterprises with i...
When it comes to the Internet of Things, hooking up will get you only so far. If you want customers to commit, you need to go beyond simply connecting products. You need to use the devices themselves to transform how you engage with every customer and how you manage the entire product lifecycle. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, will show how “product relationship management” can help you leverage your connected devices and the data they generate about customer usage and product performance to deliver extremely compelling and reliabl...
The Internet of Things (IoT) is causing data centers to become radically decentralized and atomized within a new paradigm known as “fog computing.” To support IoT applications, such as connected cars and smart grids, data centers' core functions will be decentralized out to the network's edges and endpoints (aka “fogs”). As this trend takes hold, Big Data analytics platforms will focus on high-volume log analysis (aka “logs”) and rely heavily on cognitive-computing algorithms (aka “cogs”) to make sense of it all.
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
Sensor-enabled things are becoming more commonplace, precursors to a larger and more complex framework that most consider the ultimate promise of the IoT: things connecting, interacting, sharing, storing, and over time perhaps learning and predicting based on habits, behaviors, location, preferences, purchases and more. In his session at @ThingsExpo, Tom Wesselman, Director of Communications Ecosystem Architecture at Plantronics, will examine the still nascent IoT as it is coalescing, including what it is today, what it might ultimately be, the role of wearable tech, and technology gaps stil...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, a...