Car insurance: new services offered by companies

The role played by applications, geolocation systems, and artificial intelligence does not escape the auto insurance sector.

In a reality like ours, business transformation processes are linked to innovation, the development of the Internet of Things (IoT), and the use of big data. Insurance companies are well aware of this and it is no coincidence that they are launching a series of new technological solutions to increase the number of policyholders. IVASS made them better known, with the publication of the report on the launch of new products.

Car insurance: the IVASS report

IVASS (Insurance Supervisory Institute) has recently published a report on the launch of new products by sun coast insurance companies.

From what emerged, during the first half of 2017, there was a decline in production, but a certain tendency to launch offers and services focused on assistance and protection of the motorist. These offers, spread like wildfire and now practiced by many companies, take advantage of the web and in particular applications, geolocation systems, and artificial intelligence. But let’s see specifically what it is.

The 10 new services offered by the insurance world

The IVASS study informs motorists of the possibility of evaluating the following formulas:

Emergency call

It is a satellite device connected to the RC car capable, in the event of an emergency, of contacting the operations center which will send help at any time of day or night. If the motorist needs hospitalization, an expert will be called to manage the accident. An “emergency call” contract could also include additional services (for a fee) such as returning home, continuing the journey, or even staying overnight in a hotel.

Chatbot

It is a fully digital roadside assistance service that, in the event of an accident, provides a virtual assistant to help the customer.

Medical consultation

It is a button located inside the car that allows the driver to receive a medical or pediatric consultation while traveling.

Once the button is pressed, the car is located.

Speed ‚Äč‚ÄčAlert

“Alert speed” allows you to receive an SMS or an e-mail alert whenever the permitted speed limits are exceeded or in the event of dangerous weather conditions.

BAC

This is an app that informs the customer of whether or not he can drive based on the amount of alcohol consumed. Specifically, based on the alcohol level found, the customer will see the screen of their phone turn green or red. In the latter case, the app indicates the estimated time within which it is necessary to repeat the test.

Driving style

It is the app that rewards virtuous drivers. Using GPS technology, it collects information about driving behavior by assigning a score to each trip. Those with good scores will be able to use the low-risk certification and receive more affordable personalized quotes.

Complaint

An application that gives the possibility to report a claim verbally.

Dynamic deductible

It is a policy solution according to which the tariff is structured on a premium calculation coefficient that varies according to the number of claims that occurred during the year.

Therefore, if the insured does not cause accidents, the deductible is automatically reduced over time, up to zero. On the other hand, it clicks and increases in the event of accidents in which the responsibility of the customer is ascertained.

First left

This is a real car liability clause, according to which the first accident is forgiven. The penalty on the merit class, therefore, starts from the second claim onwards.

Coachbuilder

It is a service that allows the customer to contact the partner body shop.