The insurance industry in Kenya has reported losses in motor insurance for the last seven years, with 81% of motor books as loss-making and over 30% of claims said to be fraudulent.
Without sufficient data, the insurer cannot offer risk-based individualised premiums, which has seen the insurance industry players compete primarily on price. In addition, a lengthy claims process compounds the problem because it increases opportunities for fraud and further drives the insurer into losses.
Traditional motor insurance needs a fix. Our solution gives the insurer immediate access to powerful driving scoring tools that generate reliable underwriting and risk-based pricing decisions.
Underwriting & Pricing
With our powerful driving score algorithms, the insurer can provide fairer pricing mechanisms to customers by closely aligning driving behaviours with premium rates instead of fixed-price contracts.
Claims & Accounting
Improving the claims process is critical not only to insurance providers but to the customer as well. Get the first notification of loss for prompt and quicker accident investigations and reduce opportunities.
Develop new user-based insurance products like pay per kilometre, Pay-per-trip, and Pay How You Drive while offering automatic ambulance dispatch and towing services in case of an accident.
Marketing & Distribution
Increase customer touchpoints and take advantage of cross-selling opportunities by moving away from the standard insurer-insured relationship; at the point of purchasing premiums and during the claims process.
Enhance customer engagement through useful driving alerts in conjunction with loyalty and reward programs.
Streanline customer onboarding and the claims process intergrating online channels with our telematics solution.