Usage-based insurance

Tailor-made insurance

Using IoT sensors in cars, cell phones, smartwatches, etc., determine the client’s precise risk factor, identify any potentially fraudulent claim, or set discounts on insurance premiums for some client segments.

Innovation, intelligent and always connected devices, the sharing economy... Forget checkboxes and standardized insurance categories into which you need to fit your client’s requirements. Start offering individual, personalized insurance that meets customer expectations. There’ll be too many insurance products? Don’t worry. You’ll manage it by using modern technologies such as the Internet of Things, Big Data, and Artificial Intelligence, all of which Adastra knows how to leverage.

Change your approach; offer individual products

Does a prospective client want to take out an emergency policy for half a day because he’s borrowing a shared car? Or is someone looking for life insurance that really reflects her lifestyle (as documented by a smartwatch) plus additional insurance for a pet? Does somebody else want to insure a newly purchased jacket? Why not? Start giving clients what they really want.

Modern technology and smart devices will allow you to draw up insurance precisely according to your clients’ preferences, taking into account even new requirements related to the sharing economy. We’ll set everything up for you and process and evaluate the data from IoT sensors in objects or cars, from smartwatches, and from phones.

We’ll arrange the complete implementation for you; you’ll only have to count the new products and reach out to clients with offers that they can’t refuse (for example, through micro-campaigns using predictive models).

  • Thanks to smart cars, you’ll know your client’s driving style and that he or she drives carefully. Offer a discount on the insurance premium.
  • You’ll also know that your client doesn’t drive much, and only sporadically. Offer insurance based on mileage or just on the time spent driving.
  • On your recommendation, your client equips the house with sensors. Insurance payouts will be processed significantly faster.
  • Your client wants to insure his newly purchased skis. He opens your mobile app, takes a photo of the receipt, and, after pressing a couple of keys on his phone, his policy is set up.
  • Smartwatches and cell phones will track the client’s lifestyle and give you precise information about his or her health – another basis for a possible discount on life insurance.

We’ll help you build IT systems with which you’ll be able to clearly manage all these non-standard insurance products and which will even help you to calculate the insurance itself.

78 %

According to Accenture, up to 78% of policyholders would be willing to share their personal data with an insurance company in exchange for relevant services tailored to meet their individual needs.

Get more info today, start implementing tomorrow.

Thank you

We will contact you as soon as possible.

Oto Gucklhorn

Account manager

Oto Gucklhorn