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Connecting to the real-time data from your customers’ devices is the first step in launching data-driven products and services. But the key to success is in understanding the data and how it can impact the risk and cost of the policy.
Grape Up experts can help you apply advanced analytics to telematics data to extract insights about your customers driving patterns, behaviors, and risks. As a result, you will be able to influence positive driving behavior change, increase risk assessment accuracy, and flag potentially fraudulent claims.
Usual real-world driving events such as braking, acceleration, turning, or lane changes can be represented with a collection of various sensor measurements such as accelerometer, linear accelerometer, magnetometer, and gyroscope readings. By using machine learning methods as well as traditional analytics, Grape Up helps you convert that data into valuable information and better understand the driving habits of your customers.
Artificial intelligence and machine learning can be employed to analyze driver profiling and scoring data and understand the individual risk profile for each driver. Based on that risk profile, the ML model can suggest applying a higher or lower policy price, recommend personalized insurance products, or even proactively provide coaching and training for the customer to improve their driving style and eventually earn a lower insurance premium.
Driver behavior impacts traffic safety, fuel or energy consumption, and gas emissions. By applying AI models and intelligent methods to automatically collect driving data, it is possible to generate a classification that characterizes the driver aggressiveness profile and calculate driver score.
Using car telemetry data as well as other factors such as weather, location, road conditions, and time of day, AI-powered analytics can help differentiate actual accidents from fraudulent claims. Such solutions can also assist insurers in determining the root cause of an accident, assessing driver behavior, and distinguishing between at-fault and no-fault claims by identifying and analyzing rapid changes in speed or acceleration.
Through analysis of the collected telematics data, you will be able to recognize the driving patterns of your customers, and based on these, recommend improvements to their driving style. Insensible drivers can be encouraged to start driving more eco-friendly, which will have a positive impact on the fuel economy and the environment.
The true value of telematics-based products for insurers comes from the deep understanding of their customer's behaviors. By applying advanced analytics to vehicle and customer data, you can determine risky driving behavior and discover the actual driving habits of a vehicle driver to identify unsafe practices and enable driver scoring.
Gain the ability to assess the insurance risk more accurately and calculate personalized premiums based on the driving behavior. By utilizing real-time data, you will be able to enable dynamic pricing and lower the cost associated with inaccurately priced risk.
In case of a reported accident or collision, you will be able to leverage insights extracted from telemetry data to improve and accelerate the claims resolution process. Reconstructing the event timeline allows you to automatically flag potentially fraudulent claim reports and to minimize the risk of incurring the unjustified cost.
The leading rental enterprise teamed up with Grape Up to provide counter-less rental services and a touchless experience for their customers. By leveraging a powerful touchless platform and telematics system used by the rental enterprise, the company was able to build a more customer-friendly solution and tackle more business challenges, such as efficient stolen car […]
The leading rental enterprise teamed up with Grape Up to provide counter-less rental services and a touchless experience for their customers...
Telematics / App
Thanks to advancements in connected car technologies and the accessibility of personal mobile devices, insurers can roll out telem
Insurance has always been an industry that relied heavily on data. But these days, it is even more so than in the past. The consta