STOCKHOLM, Sept. 14, 2023 /PRNewswire/ -- ABAX, Europe's largest telematics company, has today announced a unique, three-way partnership with Greater Than, the global provider of driver crash probability and climate impact intelligence, and Eir, a fully digital insurance company.
Together, the companies will leverage the power of data to overhaul the motor insurance market. Using real-time crash probability insights from Greater Than, ABAX will create tailored insurance offers for customers, with Eir providing the individual insurance cover. The product is currently in development, with the digital insurance offer launching in Sweden in Q4 2023.
"We believe that data is the core of mobility and we are committed to relentlessly pursuing the value of data for the benefit of our customers," said Atle Karlsen, CPO of ABAX. "Thanks to data, we have a deep understanding of our customers and their insurance needs and we're excited to work with these incredible organizations to develop a new insurance solution that's unlike anything currently on the market."
"This new partnership with ABAX and Greater Than is the perfect fit for us as we are committed to delivering digital insurance that is cost effective, as well as encouraging not only safer driving but also ultimately reducing the impact on the environment," said Fredrik Solberg, CEO at Eir. "Having crash probability insights across the ABAX portfolio makes it easy to generate accurate, transparent pricing that delivers benefits to both ABAX and their customers."
"We've already seen ABAX make a real impact in telematics insurance and we're excited to be working with ABAX and Eir on an entirely new insurance offer," said Liselott Johansson, CEO at Greater Than. "All three companies recognize the power of data to improve insurance and it's a privilege to provide the analytics capabilities that will enable the launch of a new proposition to transform the market."
ABAX and Greater Than have been working together since the spring of 2022, when ABAX connected 200,000 cars to Greater Than's AI analysis platform. GPS data was transmitted from ABAX's platform to Greater Than's cloud-based AI analysis platform and returned to ABAX in real-time, providing crash probability insights across its portfolio. Now, data will also be shared with Eir who will use the insights to determine the price, terms and flexibility of the car insurance. This will enable ABAX to provide a tailored insurance offer to its customers.
Press contact, Greater Than:
PR@greaterthan.eu
+46 855 593 200
www.greaterthan.eu
The following files are available for download:
https://mb.cision.com/Main/11629/3835069/2295285.pdf | ABAX, Eir and Greater Than announces a unique, three-way partnership |
https://news.cision.com/greater-than/i/abax--eir-and-greater-than,c3215672 | ABAX, Eir and Greater Than |
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