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Insurance Telematics

AXA Affin launches Malaysia’s first telematics-based motor insurance

AXA Affin General Insurance Bhd has launched AXA FlexiDrive which is Malaysia’s first telematics-based motor insurance. It uses a special tracking device installed in the vehicles along with a mobile App. This helps the drivers and the insurance company to better understand the driving behavior. The company offers discounts of …

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Sharemine, a shared mobility platform unveiled by Omoove

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Omoove has revealed its new product, Sharemine, the shared mobility platform that lets operators build a carsharing or ridesharing community, usable by individuals and fleet owners. Omoove is a subsidiary of Octo Telematics and is one of the leading shared mobility technology providers in Europe. Sharemine is a web-based tool, …

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TrueMotion joins the LexisNexis Telematics Exchange

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LexisNexis Risk Solutions and TrueMotion have announced a new alliance providing insurers greater flexibility and consumer-focused UBI programs. Through this alliance, TrueMotion is joining the LexisNexis Telematics Exchange, which will allow insurance carriers who opt-in to take advantage of data from the industry and OEMs, make better decisions faster, and …

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Singapore: Etiqa Insurance launches usage based car insurance ePROTECT sMiles

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Insurance arm of Maybank Group, Etiqa Insurance, has launched an affordable usage-based car insurance ePROTECT sMiles in Singapore, providing 50% premium savings upfront and potentially saving customers close to $500 annually. Following the wider interest and usage of Usage-based insurance (UBI) in Singapore, the launch of ePROTECT sMiles supports the …

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Mitsubishi to connect its vehicles to LexisNexis Telematics Exchange

LexisNexis Risk Solutions and Mitsubishi Motors are working together to promote safer driving and enhance customer ownership experience by allowing its owners to enroll and easily participate in UBI to potentially help lower their insurance premiums and further reduce the cost of vehicle ownership. Shown here: LexisNexis Risk Solutions smart phone app for Mitsubishi vehicle owners provides feedback after a driving event. (PRNewsfoto/LexisNexis Risk Solutions)

Mitsubishi is to become the first auto manufacturer to connect its vehicles directly to the LexisNexis Telematics Exchange. The goal of the proof of concept is to design seamless usage-based insurance (UBI) solutions for Mitsubishi automobile owners and drivers. A vehicle equipped with this technology in its head unit coupled …

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UBI global market grew by 32% in 2016 to 14 million policies

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According to Quarterly UBI Dashboard of Ptolemus Consulting, North America represents the biggest market to date with over 7.1 million active policies. This compares to 6.5 million active policies in Europe and less than 0.4 million in the rest of the world. The 3 biggest UBI insurers in North America are …

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Octo Telematics announces milestone of five million cars connected worldwide

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Market leader sees 25% increase in 12 months as popularity of telematics insurance policies soars Octo Telematics (Octo) has said that five million cars are now connected to Octo telematics platform across the globe, a 25% increase since 2016.  The firm is a leading global provider of telematics for the …

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Smart Car solution launched by Singtel and AXA

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Singtel and AXA Insurance has launched Singapore’s first smart car solution aimed at promoting better and safer driving habits. The solution, comprising a Modus smart car device and cloud-based smart car application, analyses driving patterns through a vehicle’s On-Board Diagnostic (OBD) port. Upon complimentary onsite installation, the Modus device will synchronise with the smart car application on customers’ smartphones over Singtel’s …

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BIBA teams up with member Marmalade to provide a young driver telematics scheme

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The British Insurance Brokers’ Association (BIBA) has teamed up with member Marmalade to provide a young driver telematics scheme. The new scheme will allow BIBA members to increase their share of the growing young driver market by offering competitive average premiums of around £1,300, on average, for 17 – 24 …

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Acronis partners with Raxel Telematics for adoption of Blockchain technology

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Acronis has partnered with Raxel Telematics. The new partnership with Raxel Telematics will extend the application of Acronis’ blockchain-based solutions such as Acronis Notary and Acronis ASign to the insurance industry and beyond, giving businesses powerful tools to validate important data. The blockchain technology market is tipped to reach $7.74 …

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