Spireon, the industry’s leading open connected vehicle platform company, enters the insurance telematics market with the launch of a next generation set of tools, modules and programs that allow insurance carriers to customize a program to fit their telematics strategy.
With over 2.4 million active subscribers and more than 20 billion miles of recorded driving data per year, Spireon is the industry’s largest non-OEM vehicle telematics company.
Spireon’s NSpire platform provides unmatched quality in rich data for insurers to make informed usage-based insurance (UBI) policy decisions for all models, including Pay-As-You-Drive (PAYD) and Pay-How-You-Drive (PHYD) policies.
"Aligning a small sample of driving behavior with premium rates was really just the beginning for the insurance telematics market," said Brad Jarvis, Spireon’s chief strategy officer.
"With the Spireon NSpire platform and our 2.4 million subscribers, our company is uniquely positioned to move the market to the next generation of insurance telematics through rich data and tools that give insurers a more holistic picture while making critical policy decisions."
The flexibility and openness of the Spireon NSpire platform and the scale of the company allows Spireon to engage at any level of an insurance telematics program, from simply feeding core data elements into a UBI project to delivering a complete turnkey program for scoring, first notice of loss (FNOL) and claims, including fulfillment and policyholder support, and anywhere in between.
Spireon’s NSpire platform is device and vehicle agnostic, but the company is also unveiling their unique "Always On" technology which provides a continuous view into driving data, allowing carriers to price for long-term driving behavior and extend data to FNOL and claims.
Spireon’s policyholder app also integrates with the Always On data to connect the carrier and policyholder through powerful insights and feedback.
Spireon’s comprehensive insurance telematics suite offers all of the tools insurers need to implement a next generation insurance telematics strategy, including select driving data, scoring, accident detection and FNOL, policyholder mobile app, and complete telematics program management.