Usage-based Insurance (UBI): Pay-How-You-Drive
Understand users’ driving behavior and lifestyle for customer-centric auto insurance.
Background
ABSA is one of South Africa’s big four financial service providers. ABSA looked to launch a new breed of UBI auto insurance that leveraged the benefits of both mobile and a fixed in-car IoT device. To deliver a project that combined data streams from both mobile and a fixed IMU, ABSA needed a technology partner who could develop a bespoke solution. Following an extensive evaluation of the market, ABSA selected Sentiance.
The solution
Driving Behavior Analysis
Detailed insights of user's driving events (brakes, turns, accelerations, etc).
Lifestyle Profiling
Understand each user's real-time events, lifestyle, habits and preferences.
Trip Context Detection
Understand the purpose of a trip (commute to work, leisure trip, or other trip context.)
Distracted Driving Detection
Detect phone handling while driving to see if drivers are distracted.
Results & impact
Safer drivers & safer trips
Advanced risk profiling
Innovative insurance offerings
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