Swiss Re and car electronics company Pioneer has collaborated to build a “first-of-its-kind” telematics solution.
The companies have worked together to build a solution which provides insurers with better and more personalized risk assessments, while supporting safe driving behaviour. The combined solution will be integrated with the Swiss Re Coloride app and will launch globally next year.
Coloride will now give real-time driver warnings based on Pioneer’s map data and ADAS algorithms. The warnings should help drivers avoid accidents. The new solution will also be extended to collect other information such as acceleration data to accurately identify and reconstruct a crash.
Some devices will have a manual emergency button to enable a user to call for assistance after an accident.
Swiss Re’s Coloride tool already helps to improve a policyholder’s pricing on the basis of safe driving behaviours.
Eric Schuh, Global Head P&C Solutions at Swiss Re, said: “Swiss Re is working with partners across the industry on new digital insurance solutions that will help close the protection gap in all lines of business. Together we explore new opportunities to solve challenges that span the insurance value chain, expand the footprint of insurance, and make insurance more affordable and available, while better engaging customers.”
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