The Italian insurance sector is highly competitive, and the internet has changed the rules, making the market fluid and whittling down insurance company margins. Quixa was looking for tools which could raise customer awareness in order to strengthen its relationship with them and allow greater operating efficiency and expand the range of services on offer. For example, sending out assistance automatically in real-time in the event of an accident.
After a careful analysis of the solutions available in the market, Quixa has, for the third time in a row, chosen to renew its partnership with Vodafone Automotive. This partnership includes access to the Vodafone IoT platform, the provision of emergency services and a network of professional installers throughout Italy. Together, they are studying how to make the analysis of the large amount of data coming in from the vehicles even more effective.
QuixaBox is a telematics device, installed in the garage with no visible wiring and allows Quixa to take full advantage of the telematics insurance services provided by Vodafone Automotive. It means that customers are able to call for help via a button and it is equipped with a microphone and loudspeaker to enable a conversation between the driver and the operations centre, available 24 hours a day.
The services based on IoT technologies provided by Vodafone and customised for the insurance company, enable in-depth analysis of the data coming from the vehicles. First and foremost, to provide a better service for policyholders, intervening automatically for example, in the event of a serious accident in which the driver is unconscious. Furthermore, analysing the driving behaviour of motorists offers benefits to both customers and the company. Customers are more aware of their driving style and are encouraged to adopt more virtuous behaviour, lowering their insurance premiums at the same time. The company can define customised premiums and identify fraudulent behaviour to better select customers. This has led to claims reported to Quixa decreasing by between 15 and 20%.
The network of professional installers selected and managed by Vodafone provides a precise, punctual service. Every year, about ten thousand devices are installed without any critical issues.
With data collection/processing and the sending of periodic reports to policyholders all managed by the Vodafone platform, the relationship with customers has improved: the satisfaction rate has risen by 10% and the renewal rate by 5%.
Thanks to the telematics platform, which enables events to be monitored using sophisticated tools such as crash reports and customers to be informed about their driving behaviour, the frequency of accidents has decreased by between 15 and 20%.
“Thanks to Vodafone we measure the driving behaviour of customers and send them reports on a monthly basis, helping them to improve their driving style, thereby increasing safety, and to lower their premiums at the same time."Luca Toscani, Technical and Marketing Director, Quixa