Telecom giant Vodafone Group Plc (VOD, VOD.L) announced a strategic alliance With Towers Watson, the global professional services company, for fast-track the development and introduction of telematics usage-based insurance offerings for motor insurance companies operating outside of North America.
At the launch of the service this week, Vodafone and Towers Watson confirmed that UK insurance company AIG Europe Limited, part of the international group AIG, has signed up to run a pilot.
The combination of Vodafone Vehicle Connect, the company's telematics proposition, and Towers Watson's 'DriveAbility' programme, will accelerate the pace at which insurers can get new services to market, and at a competitive cost, Vodafone said.
With the customer's prior consent, the solution enables insurers to gather detailed per-second interval data on driving performance, and to offer customers optional value-added services which could in future include automated emergency calls and the tracking of stolen vehicles. Insurers will be able to choose from a range of data collection devices. The service will combine the granular driving data with external information, such as traffic patterns and weather data, to enhance the accuracy and value of the vehicle score, Vodafone noted.
The company expects the majority of solutions to be made available to customers on a self-install basis, including options for insurers to offer 'try before you buy' applications on smartphones. In countries where self-installation is not yet practical, assisted installation will also be available. User support, including recommendations for improving driving safety, is being offered through existing insurance call centres, smartphones and a dedicated website, Vodafone stated.
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