Insurance technology specialist SSP has developed a new full cycle trading platform for telematics insurance for Drivology, an innovative new car insurance provider.
While telematics policies have traditionally focused on younger drivers, Drivology caters for safer drivers aged 25 and over, opening up the market to a new audience who want to benefit from lower premiums based on their driving behaviour.
Information about how, when and where the car is driven is recorded on a new smartphone application developed by Wunelli, with the driving behaviour data generated being transformed into a driving score. SSP manages the transmission of data across the insurance value chain, allowing premium adjustments to be calculated every three months based on driving behaviour, all seamlessly administered by the SSP Pure Broking system. SSP has also built a ‘Quote and Buy’ website and customer portal, which automates the process for quarterly client statements and integrated insurer hosted pricing with AXA.
Drivers can download the app on a ‘try before you buy’ basis; based on their driving behaviour, individuals then receive a discount code which can be used if they decide to set up the policy – ensuring a premium based on their actual driving behaviour is charged.
The Drivology app includes an Autostart feature to detect when the vehicle is moving in order to automatically activate the app, removing the need for policyholders to remember to start the app for each journey they make. Other firsts include a photo upload facility via the app, which enables photographic images of key documents to be uploaded, providing Drivology with exciting new ways to engage with customers.
Adrian Coupland, Head of Data Services Strategy at SSP said: “Drivology reinforces SSP’s position as leaders in the telematics field, and demonstrates our commitment to continuously provide insurers and brokers with the tools they need to compete effectively.”
Jonathan Davey, Managing Director of SSP Pure and Keychoice added “Demand for telematics products is set to soar over the next few years and we are delighted to be at the forefront of solutions for both brokers and insurers.”
Nigel Lombard, Founder and Managing Director at Drivology, said: “Drivology is a unique proposition that brings together the capabilities of SSP and Wunelli to ensure insurers benefit from best-of-breed telematics and data technology in one simple product.”