LOS ANGELES, March 7, 2024 /PRNewswire-PRWeb/ — MOTER Technologies, a company that analyzes connected car data to understand driving risk and create insurance solutions for the future of mobility, has become a member of the Connected Vehicle Systems Alliance (COVESA), an alliance that works on developing open standards and technologies for connected vehicles which is aiming to create a more secure, sustainable, and integrated transportation system. This membership allows MOTER to collaborate with a broad range of participants in the connected vehicle ecosystem.
As part of this collaboration, MOTER and COVESA will work closely on efforts to further develop and expand the use of vehicle data standards. These technologies provide enormous insight into the operation of vehicles. This initiative aims to improve understanding of driving behavior and the effectiveness of advanced driver assistance systems (ADAS) in reducing collisions for the development of responsive, data-driven insurance solutions to support the current evolution in mobility.
The collaboration will drive adoption by the insurance industry of ADAS sensor data to power modern insurance products and services. Leveraging MOTER’s expertise in advanced data science and insurance know-how is essential for this. It will also provide a long-desired pathway to commercialization of vehicle data for automakers as a by-product of their investments in advanced vehicle capabilities. MOTER utilizes advanced data analysis methods and machine learning to derive insightful patterns and predictive insights from intricate vehicle data. Moreover, COVESA’s commitment to advancing technology for next-generation vehicles aligns with this approach. It also aims to make vehicle data more accessible for the development of electric vehicles, autonomous systems, and software innovations.
“Modern vehicle data represents an enormous opportunity for automakers and insurers. Their joint customers benefit from smarter, data-driven insurance solutions that reflect a deeper understanding of driving and safety,” said Michael O’Shea, Chief Sales Officer of MOTER Technologies. “Effective commercialization of the advanced data insights will bring a lot of value to each of the stakeholders.”
“COVESA is excited to welcome MOTER Technologies into our alliance. We recognize the vast potential for collaborative innovation in vehicle data and analytics,” said Steve Crumb, Executive Director at COVESA. “Fueled by the vibrant and dynamic community that defines COVESA. The integration of new members like MOTER propels our alliance, fostering substantial advancements in connected vehicles and automotive sector digitization.”
As MOTER Technologies continues to bridge the gap between the automotive and insurance ecosystems. Membership is a commitment to the very core of our mission: to drive the future of mobility through data-driven innovation.
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