Since hardware-based telematics has proven to be expensive, many insurance companies are increasingly shifting to¬wards mobile-based telematics. “Mobile-based telematics will have the opportunity to accelerate the adoption of different types of technologies in the insurance market,” says Blecher. Agero’s Driver360™ smartphone based telematics platform allows in-surers to offer the benefits of a telematics solution while avoiding the headaches and costs of hardware based installations.
The Driver360 platform offers a mobile Usage-Based Insurance (UBI) solution for better underwriting decisions without the costs and limitations of OBD-II hardware. “Designed as an innovative predictive analytics solution, Driver360 provides an enhanced view into the driving behavior of our insurance clients’ customers,” explains Blecher, “all while creating a stronger and lasting connection that fuels member growth, encourages retention, and strengthens consumer relationships."Furthermore, Agero is working on a pilot program where “the mobile device detects whether there has been an accident and immediately sends emergency notifications,” says Blecher. “In case of an accident, the ACN feature triggers Agero’s specially trained and dedicated contact center agents to confirm the event, contact emergency responders, notify personal emergency contacts, and alert the insurance company,” offering an even greater value proposition to insurance organizations and drivers alike.
Driver360 is a smartphone based platform that will improve driver behavior, reduce insurance costs, build customer loyalty and save lives
Building on the fact that insurance organizations are bound to help customers in need, Agero provides an ongoing safety umbrella that creates a much stronger touch point between the insurance company and their customer. “It provides drivers the help they need immediately in the event of an accident – which ultimately saves lives,” explains Blecher.
In addition, the company’s Claims Assist product helps organizations significantly boost customer loyalty, satisfaction and cost savings. For instance, a national insurance organization partnered with Agero to leverage their Claims Assist product line, which is a combination of Accident Scene Management (ASM) and Vehicle Release Management (VRM). Initially, the product was launched in just one state. After witnessing tremendous success, the insurance carrier rolled the product out nationally. Utilizing this pro¬gram, the insurance organization was able to save nearly fifty million dollars, and increase customer satisfaction. “By 2015, the program grew significantly and almost doubled in size. We’ve since provided this product for many of our insurance clients,” says Blecher.
“As of now, only about five to ten percent of policyholders have telematics embedded in their vehicles, but with our new mobile telematics platform, we believe this percentage can rapidly increase, changing the dynamics of the accident scene in the future,” concludes Blecher.