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Transforming insurance pricing while improving driver safety
Technology Category
- Analytics & Modeling - Real Time Analytics
- Functional Applications - Remote Monitoring & Control Systems
- Sensors - Camera / Video Systems
Applicable Industries
- Finance & Insurance
Applicable Functions
- Logistics & Transportation
Use Cases
- Driver Performance Monitoring
- Usage-Based Insurance
The Challenge
The Internet of Things (IoT) is revolutionizing the car insurance industry on a scale not seen since the introduction of the car itself. For decades, premiums have been calculated using proxy-based risk assessment models and historical data. Today, a growing number of innovative companies such as Quebec-based Industrielle Alliance are moving to usage-based insurance (UBI) models, driven by the advancement of telematics technologies and smart tracking devices.
The Customer
Baseline Telematics
About The Customer
A usage-based insurance solution provider
The Solution
Industrielle Alliance partners with Baseline Telematics, a leading developer of insurance telematics solutions, to help transform the way they price and sell car insurance and design innovative programs to help improve driver safety. A connected device inside the car collects information about driver behavior and driving patterns, which can be viewed in real time via a private portal or through weekly email updates.
Data Collected
Driver Behaviour, Driver Performance Scores, Driving Patterns, Insurance Claims, Vehicle Status
Operational Impact
Quantitative Benefit
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