Accurate Risk Profiling, Improved Customer Retention & Data-driven Tariffs Enhancement
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FLEXIBLE SOLUTIONS TO BOOST YOUR CONNECTED INSURANCE IDEAS
Connected vehicles and digitalization are changing the way insurance has been traditionally proposed. We help insurers to set up new digital strategies by engaging leads and customers with mobility data. Tailored quoting, risk assessment, coaching and dynamic pricing models are some milestones to start designing and launching attractive data-driven products.
With our telematics platform, insurance companies can profit from many opportunities: staying ahead of the competition, increasing retention rates, cross- and upselling other life and non-life insurance products, knowing more about mobility needs and lifestyle behavior, and having a constant positive communication channel with its customers.
We empower insurers to no longer calculate risk based on static data but to create accurate risk profiles based on individual driving behavior. Better risk profiles lead to improved risk management in terms of the insurers’ cost claim ratio, ultimately resulting in competitive insurance premiums based on the potential of dynamic pricing.
A simple equation for success.
PREMIUM = FREQUENCY x SEVERITY
We fill the gap between telematics data and insurance pricing.
Our risks-oriented and objective scores are included as new parameters to your existing insurance pricing models.
TOP-NOTCH INSURANCE TELEMATICS
OUR KNOW-HOW TO DESIGN DATA-DRIVEN PRODUCTS
DRIVING-STYLE BASED QUOTING
CUSTOMER LOYALTY & REWARDS PROGRAMS
DATA-DRIVEN INSURANCE DESIGN
UPSELL / CROSS-SELL SUPPORT
CLAIM ANALYTICS & FRAUD DETECTION
DRIVING BEHAVIOR ASSESSMENT FOR INCREASED COMPETITIVENESS
What do you know about your customers? Their age, gender, place of work, maybe even how long they have their driving license, and accidents in the past.
Today pricing is done on this past static data, but is the past enough to be competitive today and in the future?
It’s never been easier to onboard new customers: either via simple forms or via a bot-assisted process. With only essential personal information, new customers can request an insurance offer. Encountering a lot of abandonment during the process and questioning why? Are your premiums too expensive or not attractive enough? Tackle this issue now with driving data powered insurance. Offer your customers a simple way to test-drive telematics, and convert them at a higher rate.
IMPROVED CUSTOMER RETENTION
LOYALTY & REWARDS
Customer retention is a key point: we offer you features to keep a constant communication channel with your clients. Trip logbooks, for example, allow your customers to keep track of all trips they did in the past and how good they have been driving in terms of risk, eco-efficiency, and car wear. Provide your customers with a level of transparency that differentiates you from your competitors.
Reward good driving behavior with a cash pot for the next year’s premium and/or additional benefits related to mobility. We assist you in setting up gamification and incentives throughout your whole process of designing an attractive insurance product.
UBI PRODUCTS DESIGN
Setting up new actuarial models is real science, requiring specialists. With new telematics insurance models gaining more and more traction on the consumer level, insurers need to adapt fast to innovative technologies not to lose market share.
Collecting and profiling driving data enables you to adjust or create new tariffs. The correlation of risk scores and real claim data provides you with a basis to make desired changes of your premiums.
Our expertise in setting up actuarial models for Pay-as-you-drive (PAYD) or Pay-how-you-drive (PHYD) products will speed up your go-to-market time.
LIFESTYLE ANALYTICS TO EMPOWER SITUATIONAL INSURANCE
UPSELL & CROSS-SELL SUPPORT
Data-driven situational insurance is about creating new on-demand insurance products.
Data is the most valuable asset these days. With mobility data, we empower you to infer the insurance requirements and sales potential of an individual. Our platform enables you to offer customers the coverage they need when needed, continuously enable positive customer touchpoints, and create a transparent insurance cover.
Upselling and cross-selling traditional or smart insurance products which exactly suit your customer’s needs ensures competitiveness in all related business lines.
CAUSES FOR & CONTEXT OF ACCIDENTS
CLAIM ANALYTICS & FRAUD DETECTION
The last few seconds before an accident occurs are the most crucial to decipher what led to it. Was the driver’s vision impaired because of the dazzling sun, ignoring give-way, or even a stop sign, or was he/she driving much faster than the average traffic?
Our analytics comprises 21 base risk factors from six different categories taking into consideration the driving environment. This so-called contextualization is crucial for calculating reliable and objective risk scores. But more than that, it helps to track back what happened before the accident – a significant advantage in processing claims, as most persons involved in a crash can hardly remember all details. Our approach empowers insurers to understand better how claims come into being – allowing them to take measures to predict, but more than that, prevent accidents.
Car insurance fraud is a constant problem for insurers leading to higher insurance premiums due to higher cost/claim ratios. Telematics and data analytics is a perfect means to overcome wrong customer information or even manipulated car crashes. The correctness of customer information, for example, place of living as one crucial factor for calculating insurance premiums, can easily be matched with mobility patterns and verified.
DATA FROM ANY SOURCE &
ANALYTICS DELIVERED AT YOUR PREFERENCE
READY WHEN YOU ARE
You decide the scope and extent of your connected insurance idea. We are ready to boost your offers independent of your current data collection methodology and status.
Are you thinking about selling your telematics products in combination with a physical dongle of your choice? Are you planning to bring forward a branded mobile app to track driving behavior? Or you already have a mobile app in place which you would like to ramp up?
No problem for us! Our solution can work with simple GPS data from any source; we offer a mobile SDK and an open API to feed your data into our platform.
YOU WOULD LIKE TO TALK TO ONE OF OUR EXPERTS?
Reserve your personalized demo now and we’ll be happy to discuss the best solutions for you!
GET IN TOUCH
We'd love to discuss with you the potential of our upsell and cross-sell support enabled by situational insurance analytics.
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BOOK YOUR DEMO NOW
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FREE WEBINAR, OCT 7, 2 PM CET
A New Era in Insurance Telematics: Data-Driven Customer Engagement and Loyalty
Join Adacta and Motion-S as we look at the future of insurance telematics and demonstrate what insurers can do today to grow their motor segment.
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