By helping our insurance partners to better obtain and understand driver behaviour data, we have assisted them in underwriting, pricing, mitigating risk and enabling them to create competitive advantage in their industry, while at the same time increasing safety for their customers.
Our insurance telematics assists insurers to attract and create good risk drivers and also helps with the implementation of incentive programmes to improve driver behaviour of those drivers that might be seen as a risk. This allows the insurer and the insured to share a mutual vested interest.
The data which is gleaned through a three-axis accelerometer and stored in our big data environment typically includes frequency and time of travel, locations, distance, speed, harsh braking/acceleration, cornering, rapid lane change, impact detection and accident reconstruction. This data is collected and converted into driver behaviour scores which are accessible to the driver via a user-friendly app or website.
The data can also be transferred to the insurer for the purposes of analysis, business enhancement and optimisation of insurance offerings. This allows for positive and more frequent engagement with policyholders, thus enhancing the relationships between the insurer and the insured.