1st CENTRAL, a provider of technology-enabled insurance services, and Cambridge Mobile Telematics (CMT),a telematics service provider, have launched 1st CENTRAL Connect, a telematics-based insurance product.
The product provides 1st CENTRAL customers with safe driving discounts at renewal and guidance on making a claim if it detects a crash. Those with higher scores can be offered significant discounts at renewal.
Unlike traditional black box devices that require an engineer, 1st CENTRAL said its product allows customers to set up 1st CENTRAL Connect themselves by attaching a sensor to their windscreen and linking it to the app on their smartphone. The process takes less than five minutes.
In addition, 1st CENTRAL Connect also makes the claims process easier and faster for its customers. By leveraging digital data from the crash scene, 1st CENTRAL said it has developed a “more effective and efficient claims process with faster decisions.”
William Powers, CMT founder and CEO, said “This is the future of connected insurance — helping people drive safer, rewarding them for it, and providing a smooth claims process if they’re in an accident.”
More insurers and InsurTechs in the auto insurance markets are developing telematics solutions. Car telematics developer Zubie received a significant investment from Decathlon Capital Partners to help it launch new features.
Copyright © 2022 FinTech Global