Connected auto insurance is expected to grow significantly in the market (potential of 12% of the market by 2020). Offering a telematics-driven usage-based insurance program can help you pull policyholders away from competitors through more competitive pricing and, once acquired, make them more likely to stay. Positive customer experiences through a more efficient claims process will similarly help you retain policyholders. The use of Telematics, however, requires robust and reliable technology for the collection and processing of driving data. As insurers’ information systems are generally outdated, their adaptation is often cumbersome and costly to use driving data for pricing, prevention and the development of new services (dematerialized maintenance book, etc.).
In order to enable insurers to quickly launch new connected auto insurance products, Prima Solutions, A Capella Consulting and DDI, an entity of the Michelin Group have combined their expertise and now offer an innovative and complete platform “Drive Safely and Pay HOW You Drive” based on driving indicators that make sense for insurers and their policyholders (weather conditions, driving behaviors …) other than the duration or mileage and based on:
The main strengths of this offer are the robustness and quality of DDI technology, the flexibility and responsiveness of Prima Solutions’ software, as well as the expertise of A Capella Consulting in designing and piloting this type of project.
This offer also takes into account the required security and confidentiality requirements.
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