Through the partnership, automotive insurance carriers can now assess drivers and offer competitive pricing, personalised driver insurance premiums
Sapiens International, a provider of software solutions for the insurance industry, has partnered with GreenRoad Technologies to offer driver risk assessment for automotive insurance carriers.
The partnership between Sapiens and GreenRoad will help the insurance carriers to provide their drivers with competitive, personalised driver insurance premiums, customer-centric services and proactive risk-prevention programmes.
As a developer of predictive driving risk analysis for the automotive industry, GreenRoad Technologies offers a mobile app-based solution that analyses driver behaviour detects and ranks more than 150 different and complex driving manoeuvres.
The insurance solutions provider said that the assessment allows drivers to improve their own behaviour while supporting insurers in making smart, data-driven policy decisions.
The data will enable insurers to offer improved services such as PHYD (Pay How You Drive) and MHYD (Manage How You Drive) products.
Sapiens president and CEO Roni Al-Dor said: “With Tesla and Amazon entering the car insurance market, now is the time for existing insurers to embrace innovation and harness the latest digital and AI-based technology to drastically enhance the services they provide.
“Sapiens is thrilled to partner with GreenRoad Technologies. There is a natural synergy between Sapiens expertise in equipping the insurance industry with the latest software, and GreenRoad’s cutting-edge solutions.
“Through our combined efforts, we seek to enhance the services and products insurers operating in the automotive industry are able to provide, while simultaneously boosting driver safety.”
GreenRoad’s platform can reduce 50% preventable collisions and 80% accident-related costs
GreenRoad claims that its technology uses real-time coaching and scoring mechanisms through an easy-to-use mobile app to provide client engagement and maximise driver safety.
The platform is also touted to improve driver safety and reduction in fleet risk and expenses with nearly 50% reduction in preventable collisions and up to 80% reduction in accident-related costs.
GreenRoad CEO David Ripstein said: “In an increasingly competitive insurance landscape, we are excited to partner with Sapiens to bring disruptive innovation to the market, providing insurers with the means to profitably personalize their offerings and to take a proactive approach to risk reduction.
“The data collected by our joint offering will support dynamic premiums for drivers, positioning insurers ideally to compete and retain their customers.
“Moreover, the ease of onboarding our platform with Sapiens technology will go a long way toward enabling the digital transformation of the automotive insurance field – a revolution.”