Building a Smart System that would do the hard work for the auto insurers has grown out of a sole ambition, with some of the telematic players scoring really high on this market.
Compared to the progress of UBI in countries like Italy, UK and the US, Russia is yet making the timid steps towards it. Therefore, as a trendsetter and technology leader, Gurtam has decided to not stay apart.
Yesterday, together with over 100+ TSPs, hardware providers and insurance groups, Aliaksei Shchurko, Gurtam CEO, spoke at the 3rd International Conference on Smart Insurance held for the 2nd time this year.
Aliaksei Shchurko shared the view that fleet management, where the prevention of fraud is key, has a lot in common with usage-based-insurance, with both types of solutions fighting against the same vice.
“Fuel theft and risky driving are determined by mathematics, which is where the good solution comes in place” notes Aliaksei.
Despite the many factors restraining the growth of UBI, Aliaksei was more focused on the benefits of this new type of service for telematics providers. Gurtam CEO was positive that the market will call towards massive standardization with hardware manufacturers bringing new features into their devices to work both in Fleet Management and Smart Telemetry. “The question is: who’ll be the first to pull the trigger?”
During the show, it became obvious, that auto insurance is gaining new members into the fan club, willing to get the share.
Meta Systems, the forefather of OCTO Telematics (recently acquired by Renova Group) spoke about the classic cases with UNIQA and Doplhin, and how the same progress can be achieved in the CIS.
Hereafter they showed special equipment, which allows tracking driver’s actions, quickly determining circumstances that caused an accident.
Ingosstrakh, one of the major insurance companies in Russia, have announced that their drivers can now avail of premium-based discounts, based on the new telemetry service.
Intouch jointly with the MTS, one of the largest MNOs in Russia, has started to provide more accurate and “accident-free” drivers with their policy discounts.
In overall, the insurance companies, notorious for being massively suspicious of innovation, have shown decent levels of UBI adoption. At best, the trust will be laid on the well-known technology players, with Gurtam willing to play big in that.