Wejo Group Limited, a provider of cloud and software solutions for connected, electric and autonomous vehicle data, has teamed up with Ford Motor Company in Europe to leverage connected vehicle data in insurance.
Wejo claims it enables smart mobility by organising trillions of data points collected from approximately 12 million vehicles and 66.8 billion journeys, and standardising these streams of data on a large scale.
The partnership will see Wejo leverage Ford’s end-to-end data consent process through which the insurance company gains consent from the customer to success the personalised vehicle data such as vehicle location, speed and mileage.
That consent can then be passed back to Ford through Wejo to release the data for analysis and insight. The connected vehicle data can then be used to establish usage-based end-to-end car insurance policies that are appealing to the customer based on their safe driving or limited mileage.
Richard Barlow, founder and CEO, Wejo, said, “Providing actionable data insights to insurance providers is another example of how Wejo is expanding into additional markets and demonstrating new use cases for OEMs and insurance companies to monetise connected vehicle data for good.
“We will continue to work with partners like Ford and other vehicle OEMs to look beyond insurance to identify all the use cases for connected vehicle data.”
Ford Motor Company also recently partnered with global data analytics provider Verisk to offer standardised insurance-ready connected car data in Europe.
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