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Smart solutions for the motor insurance industry

Drive efficiency and increase customer satisfaction with innovative insurance models

Reinventing insurance for demanding drivers

It's challenging keeping your drivers loyal. Sometimes they see their annual premium as a tax on driving, and feel they get little back from their insurers in return. In today's on-demand economy, there are new technologies and models to need a way to cement customer loyalty, to reduce price sensitivity, churn rates, and meantime drive revenue up. Insurers also need more economies to control costs across their operations and reduce the dependency on investment income. More than ever, as part of the evolving mobility ecosystem, insurers not only participate in the disruptive changes taking place, but lead them.

IoT is key to making all of this happen. Insurance telematics can improve risk management, drive cost out of the claims process, enhance customer loyalty through creating opportunities for regular contact, and open up new possibilities for sales channels and revenue generating services in partnership with businesses from other sectors. The potential is revolutionary, and due to the cost savings and revenue improvements involved in many of the telematics applications, such projects can be self-funding.

Motor insurance in the age of IoT will deliver value for everyone

Consumers want lower premiums and to feel safe on the road, while insurers want to cover risks profitably. Insurance telematics can help you do both by providing a better way to price coverage and offer services such as crash assistance and roadside recovery. Our insurance telematics services include:

Driving behaviour scoring and risk assessment tools

eFNOL (First Notification Of Loss) and crash reconstruction.

Proper claim settlement via damage estimates

Smart business process triggering, based on application interaction - automatic claim management pre-loading

Safety services including automatic crash alert and emergency call assistance (crash and breakdown)

Security services, including theft alerting and tracking

Reward programme and co-marketing activities with insurance companies

Vehicle remote control and management (such as reports, geofencing and speed alerts)

You can now open new sales channels by working closely with OEMs and other businesses in the automotive ecosystem. The deployment of factory-fit telematics by automotive manufacturers presents insurers with the perfect opportunity. Here, we work with over 35 vehicle brands today and can support both insurers and automotive manufacturers to take advantage of new business models enabled by telematics.

Our proven experience and unique capabilities

When you work with Vodafone you’re partnering with a provider that has proven IoT expertise, experience of deploying usage-based Insurance (UBI) solutions and deep understanding of the motor insurance industry.

Our automotive experts can help you every step of the way, with our unique capabilities which include:

In-house hardware design and manufacture

Global cellular networks

A powerful telematics platform

High levels of security and privacy: operating a 24/7 cyber defence monitoring centre and complying with local privacy standards

A complete managed service wrap, led around-the-clock by the highly trained agents in our secure operating centres

End user mobile apps and web offering: vehicle remote management and driving behaviour KPIs

Related documents

Vodafone Automotive