Usage-Based Insurance with Customised Plans & Affordable Premiums
Data-driven personalized insurance plans are the key to happier and stronger client relationships.The time for traditional auto insurance is up, as consumers demand flexible and next-generation insurance policies that match their dynamic driving styles. With over 69% consumers willing to share significant data on their driving habits in exchange for lower insurance prices, the era for usage-based insurance is now.
CerebrumX AI-powered connected vehicle data gives insurers the ability to quickly roll our UBI programs for the consumers. What used to be calculated based on gender, age, and driving years can now be based on actual driving data. The drivers who benefit the most will show better-driving habits or improve their driving behavior, usually those who avoid harsh braking, rapid acceleration, and late-night travel. The reward is usually a reduction in insurance premiums. Other benefits include reduced congestion, traffic accidents, pollution, maintenance, and fuel costs.
AI-Powered Dynamic Usage-Based Insurance
PAYD & PHYD Usage Based Insurance
Attract policyholders with flexible insurance plans, such as Pay As You Drive (PAYD) and Pay How You Drive (PHYD) that offer personalised insurance services based on unique usage trends, miles covered and driver skills/behavior.
Insurance Fraud Detection
Minimize insurance fraud with verified customers, status updates and strict policy adherence ensured through transparent vehicle impact data.
Increase Customer Retention & Acquisition
Optimize Loss Insurance Claims
Streamline the claims process for policyholders for better, easier and quicker TAT, thanks to valuable car/collision data and intelligent analysis powered by AI and ML.