Advantages of usage based insurance
For you as an insurer, there are huge advantages entering the Usage Based Insurance business:
- Personalized app branding.
- Intuitive and adaptable scoring model.
- Frequent and engaging customer dialogue and feedback.
- A robust and tested solution that id already running on more than 5.000 vehicles.
- Customizable solution to fit your needs.
- Opportunities for x-selling to existing customers and attracting new customers.
- 24/7 support.
A NextM2M Usage Based Insurance lets you reap the benefits of telematics in the car insurance market.
All information about the driving can be accessed by the driver on the web or in an app. This also opens the possibility to interact frequently with the driver, giving good advice on the driving style, the score that works as the basis for calculating the monthly insurance fee, a gamification element, etc.
Other great smartphone app features are
- Car Location (find your car easily via your smartphone app).
- Driving Speed.
- Driving Time.
- Driving Behavior (a score is calculated on the driving style).
- Distance Travelled.
- Statistics (showing past driving).
- Parking Meter (remembers when your parking ticket runs out).
- Emergency Contact.
How M2M insurance works
A GPS tracking device is easily installed in the vehicles OBD connector. Most times this can be done by the driver without having to visit a car mechanic. All vehicles produced after 1986 are equipped with an on-board diagnostic connector (OBD). Data is only extracted from the vehicle; no data is loaded into the vehicles computer.
Security is key
Security is key in our M2M insurance. All data collected is heavily encrypted and stored in a cloud infrastructure. The backend system and platform are hosted by NextM2M in a data center or installed on own infrastructure if wanted. No personal information is stored anywhere; confidentiality is, of course, our highest priority.
For a more detailed description of usage based insurance, please contact us at +45 70 226 223