What:
European telematics company ABAX announced the launch of Fair Car Insurance, a new commercial car insurance broker that will utilize driving data to offer companies better rates.
Why:
“Fair car insurance is born because we believe that car insurance can become better, so much better!” said Jørgen Johansson Skalleberg, CEO of Fair Car Insurance.
How:
- The new offering was developed in partnership with mobility data company Greater Than
- Uses the AI tech to segmentise and price risk. This enables transparent pricing and concrete support to customers to help avoid crashes.
- By simplifying the underwriting and actuary process, using data-driven risk insights from Greater Than to calculate prices on actual risk level and distance driven. It also provides regular performance reports to customers, with targeted tips to avoid crashes, vehicle wear and tear, and insurance costs.