Greater Than has revealed that its highly-vaunted artificial intelligence (AI) software has enabled ABAX to launch a new and autonomous car insurance broker brand.
The subsidiary, known as Fair Car Insurance, is aimed at providing data-driven value specifically tailored for connected fleet insurance customers. Its entrance into the market is a strategic move to cater to the demand for more personalised and data-influenced insurance products within the realm of connected fleet insurance.
This new brand capitalises on Greater Than’s AI capabilities, utilising them to compartmentalise and price risks effectively, enabling transparent pricing and offering tangible support to customers in crash avoidance, in the process.
Fair has emerged as a distinct car insurance brokerage created to leverage data analytics in delivering substantial value to the niche of connected fleet insurance clientele. As a spinoff from ABAX, one of Europe’s leading telematics companies, Fair’s primary focus is to offer innovative insurance solutions initially targeted at ABAX’s existing customer base in Sweden, comprising over 200,000 connected vehicles.
Greater Than’s unparalleled global data analysis harnesses AI for positive outcomes, revealing driver impact insights derived from GPS data.
This process yields real-time crash probability intelligence that can be tailored based on customers’ requirements. It can pinpoint risk levels across fleets, geographical locations, days of the week, and times of day, offering a comprehensive understanding of potential risks.
Emma Dyga, CEO of ABAX Group, said, “Fair Car Insurance has arrived to provide a completely new insurance offering by utilising predictive driving behaviour for customer beneficial risk segmentation, transparent pricing, individualised insight and crash mitigation for improved road safety. The result is a tailored insurance offer that’s unlike anything else on the market.”
Jørgen Johansson Skalleberg, CEO of Fair Car Insurance, said, “Fair car insurance is born because we believe that car insurance can become better, so much better. In line with our name, our mission is to simplify car insurance for business owners. And, thanks to our data-driven insights, we can create customized offers for all our potential customers.”
Liselott Johansson, CEO of Greater Than, said, “We’re proud that our driver scores give Fair a deep understanding of risk and have facilitated the launch of an entirely new insurance offer. Fair is a prime example of how the power of data can accelerate business development and deliver huge value to all stakeholders.”
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