Need for Usage-based Insurance

    Write better business

    • Proposition attracts better drivers
    • Improved initial risk scanning
      • Pay as you drive
      • Pay how you drive
    • Poor drivers motivated / forced to leave
    • Selection at renewal

    Claims indemnity, income and efficiency improvement verification

    • Fraud reduction
    • Stolen vehicle recovery
    • Increase customer retention, cross-selling and brand loyalty

      Benefits of using usage-based Insurance

      Benefits for auto insurers

      • Increase loyalty of current policy holders and attract new customers
      • Generate revenue via value-added services
      • Lower risk, cost and claims class=”bullets-list
      • Detection of frauds

    Benefits for drivers

    • Personalized auto insurance premiums
    • Increased driver education and improved driving skills
    • More awareness for better preventative maintenance
    • Gamification of data encourages good driver behavior through comparison with other drivers

ValueLabs Solution: DrivRight

  • Ensures an effective telematics solution for increased customer retention
  • Provides end-to-end claims and policy renewal management system through effective
    • Tracking
    • Monitoring
  • Provides key information pertaining to vehicles such as:
    • Location
    • Mileage
    • Route taken
    • Idle time and speed
    • Accessible through web and mobile
    • Provides predictive analysis around optimal fuel consumption
    • Provides real-time information
    • Gives granular analysis of key parameters to every stake holder
    • Easy to install / integrate with the existing system
    • Winner of the 2014 New Media Awards
    • ValueLabs would like to propose having an On Board Device (OBD) that works with cars and other fleet vehicles

    • An auto accessory that communicates with car / fleet systems
    • Fetches diagnostic information with car / fleet systems

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