What:
AXA Hong Kong and Macau has partnered with Chung Shing Taxi and TaxiSafely to launch Hong Kong’s first Internet of Vehicles (IoV) project collaborated by insurer and taxi company.
Why:
With the use of innovative technology, the collaboration aims to enhance taxi driving safety and protect taxi drivers, passengers, and other road users.
How:
- In this partnership, 50 taxis from SynCab and Chung Shing Taxi will be the first to install TaxiSafely’s telematics device.
- Equipped with a high-sensitivity duo lens, the detection device provides real-time monitoring of road conditions with a 3D lens, accurate detection of obstacles, and advises taxi drivers immediately on the high-risk precautions to avoid accidents, for example, distance to the vehicle ahead, as well as tangent drive.
- AXA and Chung Shing Taxi will review and analyze the collected data regularly to assess the driving safety of the taxi fleet.
- Moreover, the data enables AXA to determine the insurance premiums based on the driving performance of the taxi fleet, the past underwriting and claims records, and provide premium discounts to those taxi fleets with good driving records.
- This ensures fair treatment, especially for drivers with good driving performance, and enhances awareness on driving safety among taxi drivers.
- The telematics solution by TaxiSafely will collect and transmit the data through 4G to an encrypted cloud system and undergo big data analysis, which tracks individual driver’s behavior and performance.
- The solution will also provide traffic black spot reports and recommendations for improvement for drivers based on their driving behaviors, which aims to optimize the overall fleet performance.