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.