UBI Auto Insurance IoT Solution

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Industry Status
Brief description of the program
Program value
UBI Inertial Module
Landing Cases

Industry Status
Industry Status
- 01
  
  Technological development
  
  UBI, by utilizing the usage behavior of cars, can more accurately measure the safety of cars, collect valuable data, and facilitate car insurance companies to analyze vehicle losses, thereby providing more favorable pricing. It can also handle some vehicle related affairs, such as timely punishment of violations during the hesitation period, thereby reducing customer complaints.
- 02
  
  Consumer preference shift
  
  Today's consumers are no longer just comparing the prices of insurance products, but pursuing the service value provided by insurance products, hoping to pay lower insurance premiums for car insurance based on the value they bring. UBI car insurance can provide objective and accurate insurance premiums, which is welcomed by more consumers and more conducive to the popularization of UBI car insurance.
- 03
  
  Traditional insurance issues are prominent
  
  At present, traditional car insurance has low profitability, serious homogenization of insurance products, prominent problems such as high pricing, high transaction fees, extensive operation, disorderly competition, and data distortion, and urgently needs reform.
- 04
  
  Industry giants increase their layout
  
  Large insurance companies and others are piloting UBI car insurance. There are over 300 technology companies involved in the UBI concept in the market, and leading car manufacturers such as Tesla have also begun to lay out UBI car insurance.
Brief description of the program
-Hardware and software can be customized according to customer needs

As a UBI auto insurance overall solution provider, Innovatech IOT collects multi-dimensional data such as vehicle mileage, driving behavior and number of times of driving through the use of cutting-edge technology with the vehicle-mounted intelligent terminals as the perception portal, and uploads the data to the cloud server for analysis and computation through the communication network to provide a fine-grained pricing basis for the development of personalized insurance products by auto insurance enterprises, and to provide more choices for auto insurance users. more choices for auto insurance users. Enterprises can also share driving data so that customers can understand their insurance status, improve user experience and renewal rates, and reduce claims disputes.
Program value
- Enhancement of fine-grained pricing capabilities
  
  Innovatech provides accurate data (mileage/rating/time/times driven, etc.) for auto insurance through inertial positioning (which can be used in tunnels and other underground scenarios), high-precision satellite positioning, collision warning, DSM, and ADAS, making auto insurance pricing reasonable and accurate.
- Improving product attractiveness and competitiveness
  
  Through the Internet of Things technology to achieve the UBI car insurance, because of its thousands of people thousands of pricing qualities, can really realize “lower prices, increase insurance, improve quality”, to help enterprises to launch more differentiated packages, to solve the traditional insurance pain points, and to improve the customer's willingness to buy and satisfaction.
- Improving car insurance profitability
  
  The UBI vehicle terminal can accumulate the driving data of a large number of insured people, which can help enterprises carry out targeted stratified management of superior and inferior customers and realize “one person, one car, one price”, which not only reduces the risk of claims, but also improves the renewal rate and underwriting profitability. Through big data, customers can also conveniently check their insurance status on the APP, which increases the experience and reduces disputes.
- Increase customer acquisition channels
  
  Accurate collision alarms and accident video recording not only help insurance companies to understand the accident status of the owner at the first time and obtain evidence conveniently, but also enable enterprises to contact the owner more actively so as to recommend follow-up services, and obtain the opportunity to bind roadside assistance and insurance mutual promotion business with 4S stores.
UBI Inertial Module

Inertial Positioning | Driving Behavior Analysis | Accident Analysis | Accurate Mileage Statistics | Flexible Installation | Compact Size
- UBI Inertial Module
Landing Cases
Landing Cases

We have provided tens of thousands of OBD devices for UBI industry customers, docking them to their UBI management platforms to provide managers with accurate mileage, driving times, driving hours, driver behavior scores and other information as the basis for personalized UBI billing. as the basis for UBI personalized billing.

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Based on core technologies such as inertial guidance and driving behavior analysis, empowering enterprises to build UBI risk models driven by data, innovate auto insurance products and increase profitability

solutions

01

Technological development

02

Consumer preference shift

03

Traditional insurance issues are prominent

At present, traditional car insurance has low profitability, serious homogenization of insurance products, prominent problems such as high pricing, high transaction fees, extensive operation, disorderly competition, and data distortion, and urgently needs reform.

04

Industry giants increase their layout

Large insurance companies and others are piloting UBI car insurance. There are over 300 technology companies involved in the UBI concept in the market, and leading car manufacturers such as Tesla have also begun to lay out UBI car insurance.

Enhancement of fine-grained pricing capabilities

Improving product attractiveness and competitiveness

Improving car insurance profitability

Increase customer acquisition channels

UBI Inertial Module

Inertial Positioning | Driving Behavior Analysis | Accident Analysis | Accurate Mileage Statistics | Flexible Installation | Compact Size

Landing Cases