Insurance

INDIA : Telematics-based insurance takes a big hit due to lack of data protection, IRDA’s fixed pricing laws Bengaluru: Online insurance start-ups, which are trying to use customer data from vehicle trackers and wearable devices, have hit a blockade due to lack of regulatory oversight on premium pricing and data protection. Currently, insurers operating in the motor insurance segment depend on vehicular data, such as engine displacement, capacity of the vehicle, miles driven and age of the vehicle, to price premiums. Despite... [Lire la suite]

Telematics: Is It Worth It?   Telematics technology, also known as user-based insurance, allows an insurer to customize a driver’s insurance premium based on their pattern of driving. It works by monitoring a driver’s behaviours behind the wheel to provide an objective picture of how they drive. The technology assesses: ​The distance driven The time of day that the car is on the road (rush hour, mid-day, night), and How the driver accelerates, brakes and makes turns. Data is collected for each trip. A driver that... [Lire la suite]

CEO OF NEXYAD WAS A SPEAKER AT THE PARIS CHALLENGEr STARTUP & INNOVATION SUMMIT ON AI (ARTIFICIAL INTELLIGENCE) NEXYAD was pleased to participate to this summit on Artificial Intelligence. We could explain how our Artificial Intelligence -based software component SafetyNex is now Embedded in many products worldwide and how it transforms industry (aftermarket for telematics - fleets & insurance -, new vehicles - cockpit and AD systems ). We also explained how such a module, via a reward system, can be used by B2C mass market... [Lire la suite]

NEXYAD INTERVIEW ON MMA CAR INSURANCE WEB NEWS : ARTIFICIAL INTELLIGENCE AND SAFETYNEX French company NEXYAD were interviewed by the French insurer MMA about Artificial Intelligence and Road Safety and explained their system SafetyNex Link : https://www.zerotracas.mma/news/469620/l-intelligence-artificielle-au-service-de-la-securite-routiere.htm

TELEMATICS – A GAME-CHANGER IN ROAD SAFETY It’s no longer a secret that telematics is one of the biggest game changers in the way insurance industry functions. Telling someone to drive safely is quite meaningless, if without specifics. With telematics, insurance companies can now actually show drivers the way they operate their vehicles and what specifically they should do to improve their driving habits. Telematics enables insurance companies to monitor vehicles and their drivers. Cars fitted with telematics identify inefficient... [Lire la suite]

Artificial Intelligence in Insurance – Three Trends That Matter Change is here, more is coming. The insurance market is dominated by massive national brands and legacy product lines that haven’t substantially evolved in decades. Sound familiar? People are already placing bets. Insurance is an industry that venture capitalists consider so ripe for disruption that the founders of Lemonade, a New York-based insurtech company, raised one of the largest seed rounds in history simply by talking. It’s not just the venture... [Lire la suite]

Top 5 Digital Transformation Trends in Insurance This week, I’m continuing the series looking at digital transformation trends in different industries like healthcare, retail, finance, media and entertainment, education, government, and automotive. It’s true that digital transformation is revolutionizing every industry we can imagine — but some are moving faster than others. Case in point: the insurance industry. Truth be told, the insurance industry has never been much of a leader when it comes... [Lire la suite]

The hard truth on insurance and telematics Whiplash, staged accidents, Ogden, fronting, ghost broking – you name it, motor insurers have been having a rough time of it.  Not only that but they have been getting it, rather ironically, ‘in the neck’ for encouraging a compensation culture in the UK that has seen claims costs spiral and premiums reach record-breaking levels.   Search and compare product listings for Motor Insurance from specialty market providers here While Government reforms are underway to help tackle some... [Lire la suite]

Computing onboard, in real time, the risk that the driver is currently taking There is a software component called SafetyNex that can compute onboard (and not on the cloud), in real time (and not on a back office server one week after), at each moment (i.e. 20 times per second), the risk that driver is currently taking. This driving risk is computed with anticipation. The software component is called SafetyNex, proposed by the company NEXYAD (We Save Lives). If driver is a human being, it has been shown that alerting driver a few... [Lire la suite]

What is Connected Car Insurance? | Insurance Telematics Encourage Safer, Smarter and Greener Driving Behavior What is Connected Car Insurance?  Connected car insurance is a technology-driven automobile insurance leveraging the Internet of Things (IoT) whereby insurance premiums are dependent on driver behavior. Connected car insurance programs are intended to reward and promote safer and smarter driving behavior, while enabling auto insurance customers to receive potential discounts and savings to their monthly premiums based... [Lire la suite]