Safe miles, save lives: powered by Maritime Financial Group

The Maritime Financial Group strongly nurtures corporate social responsibility by encouraging private initiatives for the public good, focusing on the quality of life. 

The Group has shown great compassion and social responsibility as the initiator of numerous actions and initiatives that save lives in the Caribbean region. Their latest initiative “Safe miles, save lives” invites all drivers in Trinidad and Tobago to use their CoPiloTT mobile app to contribute to their charity drive. 

To participate in “Safe miles, save lives” the driver must be a user of Maritime’s CoPiloTT mobile app and record his safe driving. Each trip must be at least 3 kilometers long and the driver must achieve a score of 90 or higher. The driver may record up to 5 safe trips daily to contribute. At the end of every trip, the driver may select the organization of his choice and Maritime will donate $5.00 for each safe trip recorded. 

We invite you to be a part of this generous initiative and help to raise up to $100,000 worth of donations to those in need. To find out more visit Safest miles.

The Maritime Financial Group has made Trinidad and Tobago’s roads safer by launching their CoPiloTT mobile app back in 2018, and it still encourages the user to be a better driver through Amodo’s customer engagement module

Participation in challenges and competitions might influence a participant’s road safety in a positive way. Drivers are incentivized for the behavior change through a discount system. Part of the value is the reduced premium, but winners can also enjoy gas vouchers and some other benefits provided by program partners, or contribute in charity donations powered by Maritime.

Fill out the form below if your interested in more info about our projects:

Amodo partners with Daimler AG on the neutral server initiative

This partnership entails the sharing of specific data from all Mercedez-Benz vehicles produced after January 2016 and which are used within the EU.

Potential uses for this data are in insurance and vehicle security as connected cars send information about things such as mileage driven, fuel status, battery status, door lock status, tire pressure, warning lights, diagnostic trouble codes and even installed safety equipment. The availability of certain data depends on each car manufacturer.

Amodo is a smartphone first connected insurance platform which helps insurance companies get closer to the modern customer through behavioral data insights, elaborate customer engagement tactics and just in time offerings of short term and behavior-based products.

The neutral server initiative, created by the European Automobile Manufacturers Association (ACEA), is a joint effort to implement solutions that make automotive data available to interested third-party service providers in a safe and secure manner, without requiring those third parties to each individually sign a contract with a vehicle manufacturer. 

Fill out the form for more information:

November was filled with exciting InsureTech conferences


This November was filled with awesome InsureTech events: conferences, summits, forums, you name it. We attended – all! It was a great opportunity to meet with industry leaders from all over the world, to share insights and exchange visions.

The insurance industry understands the importance of embracing digitalization as its business model and is seeking to find the right technology to provide personalized insurance products for the new generation of customers. According to EY’s  Global consumer insurance survey, based on 24,000 responses worldwide – 80% of respondents said “yes” to Smartphone-based communication with their insurer! Now let’s do it!

Fill out the form below for more info on how we can help your InsureTech company.

The Financial Times short-listed Amodo among top 5 worldwide InsurTech Companies


The insurance sector prepares for disruption

According to Deloitte, around $2.6bn was invested in “insurtechs” in 2018, and $2.2bn in the first half of 2019, and deal sizes have been growing.

Insurers are also responding to changing demands from clients that face new risks and want to know how the insurance industry can help them. (FT)

It is hard, if not impossible, to identify an industry that did not have to adapt to new market dynamics, new competitive forces and new disruptive realities, all driven by data, digitalization, and technology. From shifting customer behavior to channel fragmentation, from digitalization to business or operating model innovation, few if any industries have remained immune. 

More than ever, insurers are facing a number of fundamental questions about their future, and the answer to a number of these questions is telematics technology. For insurers, this centers on smartphone telematics and harnessing the devices, which have taken a central role in seemingly all aspects of consumers’ lives, to tap into deep contextual and behavioral information that could forever change how the industry considers risk.

How did Amodo get into the top 5 “insurtechs”?

The Amodo platform enables insurers to develop a new category of products based on behavior and usage data. The platform collects data from smartphones and other connected devices in order to build holistic customer profiles, providing better insights into customer risk and customer product needs. Amodo’s technology and methodology are used by insurers around the world.

Amodo offers a number of tools for behavior change and reducing risk through prevention, as well as numerous opportunities for insurance carriers to innovate and monetize through innovative insurance business models and value-added services.

Fill out the form below and find out how Amodo can help your insurance company:

Telematics Smartphone App as a powerful marketing machine

Amodo’s mission is to enable new digital insurance ventures in harvesting the value of the smartphone channel. We gather behavioral data to help insurers place the right products to the right users at the right time.

Motor insurers have been using telematics primarily to reduce driving risk and automate claims, which reduces the cost side of their business. However, to maximize the ROI of a telematics-based proposition, insurers should go beyond claim automation and risk prediction and turn their telematics apps into a powerful marketing machine. 

Converting users into insurance customers

If you look to learn more about your smartphone telematics app users, driving behavior data needs to be combined with other aspects of behavior such as engagement with the app, participation in challenges and contests, commuting patterns, as well as purchase behavior when available.

If implemented correctly, the analysis of different behavioral variables and making sense of these patterns lays the ground for powerful predicting capabilities.

The Amodo technology supports clients to use the collected data for segmentation and estimation of purchase probability among others. Behavior data should also be used as a basis for communication and engagement tactics. These are powerful tools for changing behavior and reducing risk through prevention.

However, the effects of such campaigns can also be of a short-term nature. Which is why it must be combined with long-term incentives such as policy discounts. Based on the analyzed data, insurers typically have around 6 months to turn new app users into more loyal users and potential policy buyers.

Providing both short-term and long-term value is the key to keeping users. Users need to perceive they get value from using the app, or they will lose motivation to participate. Consistency in the implementation of targeted marketing actions and providing clear value to users has led, in some cases, to the increase in conversion rate by up to 100% within less than two years.

About Amodo

The Amodo platform enables insurers to develop a new category of products based on behavior and usage data. The Platform collects data from smartphones and other connected devices in order to build holistic customer profiles, providing better insights into customer risk and customer product needs. Amodo technology and methodology is approved by insurers around the world.

Fill out the form below and find out how you can benefit from our technology:

Create customer relationships with the help of smartphone data

Usage-based insurance products rely on technology that gathers data and provides insights for insurers and customers. There are seven main types of data gathering technology:

  1. Blackbox
  2. OBD device
  3. OBD + Smartphone hybrid
  4. Smartphone only solution
  5. Bluetooth beacon enhanced (BLE) smartphone solutions
  6. Windscreen-mounted devices
  7. 12 V socket device

Telematics technology can provide a lot of value to insurers and its importance will only grow in the future.

Aftermarket telematics devices are a preferred option when it comes to meeting the actuarial expectations on data reliability and in-car telematics technology importance is on the rise. 

Smartphone-based UBI Products

The most accessible form of UBI products for the customer, as inquiries just an app-download, and insurer, as it gathers data in one place and is a smartphone-based communication tool.

Smartphone apps are facilitating several significant shifts, including:

  • challenging traditional insurance business models and profit schemes
  • transforming the customer relationship through automation during quoting and claim submission
  • expanding the range of insured products through micro-, on-demand or parametric insurance 
  • integrating insurance coverage into existing services (banking, navigation)

Nonetheless, smartphone-based solutions continually gain on adoption and popularity for several reasons, just some of them being good economics, independence from the car manufacturers, and the mere fact that you need a smartphone in any of the above scenarios to ensure communication back to the customer.

A smartphone is just one of the tools for usage and behavior data collection. However, thinking about a customer relationship, communication and engagement, a smartphone is the best tool to achieve these business goals.

Our technology helps achieve insurers goals

Our goal is to assist insurance companies in achieving lower claims through self-selection and behavior change. Our clients have reported up to 15% lower claims by using the Amodo platform. However, to get the return on investment only by harvesting that one particular business aspect takes a lot of time and effort.

That’s why these 3 business aspects should not be overlooked:

New product creation

The capability to create new products and thereby differentiate, address new market segments and drive more revenues.

Smartphone-based UBI products enable targeting infrequent drivers with pay-as-you-drive (PAYD) models to only pay for the driven distance. New and insecure drivers can be targeted with the pay-how-you-drive (PHYD) model, where they collect safety scores based on their driving skills and get regular reports on how they’re doing.

Customer engagement

Engage with the customer to collect more data, learn about their personal needs and habits, and consequently create higher loyalty by addressing them individually through personalized products and services.

For example, the PHYD model has various tasks for its users that collect badges and improve their driving at the same time!

Customer communication

Address the engaged customer base through the smartphone channel to drive up-sell and cross-sell insurance products and services and drive more revenues.

When it comes to the subject of driving more revenues through up-sell and cross-sell, smartphone data becomes essential. Through smartphones’ data, insurance companies can learn about their users’ customer journeys even after leaving their cars in a parking lot. This is why a smartphone, even as a data collection tool only, has more value than a telematics box ever will. A telematics box connects you with the car; a smartphone connects you with the customer.

Also, in case of an accident or emergency, the insurer can be automatically alarmed and in the position to call for more help or road assistance. This way, the insurer strengthens the customer-insurer relationships and brings it to a new, friendly level.

For more information on how we can help you create customer relationships, fill out the form down below:

Usage-based insurance: thinking beyond the black box

From shifting customer behavior to channel fragmentation, digitization to business or operating model innovation, few if any industries have remained immune to the digital transformation. 

Some may argue that the insurance sector has lagged others in confronting disruption or seeking to be the disruptor. Insurers are facing a number of fundamental, if not existential, questions about their future which will be very different thanks to telematics.

The concept of telematics and the technology behind it is by no means new. The sector is facing a collision of forces, each of which in isolation may not be enough to catalyze significant change, but in concert are creating opportunity and risk in equal measure.


We no longer “go online”, we’re just “online”. The quality of data, long a concern for insurers evaluating their telematics strategies, continues to stride ahead, with 4G connectivity reaching some of the most rural areas and talk of 5G rollout already dominating. 

Coupled with the incredible ubiquity of the smartphone and its ever-pervasive role in our lives, consumers have never been more connected to the world around them. 

In India, for instance, researchers forecast more than a billion smartphones will be sold in the country over the next five years. In Western Europe, smartphone penetration per capita has reached almost 70 percent. The prominence of these devices and their influence on our now increasingly app-based lives shows no sign of abating.

Growing expectations

Empowered consumers expect more from businesses than ever before. We’re no longer only compared to our peers, but to products and services from other industries. Some attribute the growing expectations to Amazon, Netflix, or Uber. But whoever you credit, or blame, for your customers’ heightened definition of value and expectations, it’s inescapable – and ignoring it isn’t an option.

Shifting behaviors

Owning a car doesn’t necessarily hold the allure it once did, at least for the younger generation. A combination of financial pressures improved urban public transport, environmental concerns, and the immediacy and flexibility offered by the sharing and gig economies are changing the automotive sector. Millennials, already the world’s largest demographic cohort, have greater freedoms than previous generations and are shunning the traditional path to car purchase and historical patterns of transport usage.

Simple economics

The insurance sector’s reliance on age, occupation, postcode, and brand of car to serve as a proxy for risk is imprecise, to say the least. And it’s not just insurers that are finding themselves hamstrung by legacy profiling. Consumers, especially in their early driving years, are increasingly expressing frustration with carrying the cost burden of bad drivers, similar in socio-economic status, but potentially radically different in behavior.

The looming threat of automation

Myriad societal and regulatory questions are either unanswered or yet to be asked, but like it or not, automation is coming to the insurance industry, with accounting and advisory leaders KPMG predicting the sector could shrink by as much as 70 percent by 2050 due to “autonomous vehicle technology, a rise in on-demand transportation and shifting of liability to manufacturers”.

These forces are creating many opportunities for insurers willing to embrace change and adapt. Consumers increasingly understand the value inherent in their personal data and that they can offer contextual information about their behavior with ease in exchange for tangible benefits from the businesses with whom they choose to share it.

Advances in connectivity, data reliability and the wide penetration of smartphones mean the traditional black box, with its associated cost and practicality issues, is no longer the only option for insurers and drivers seeking a fairer, more accurate approach to assessing risk and setting premiums. 

App-based smartphone telematics is creating an opportunity to lift the motor insurance sector out of the margin-eroding, price-focused situation that aggregators have helped to create; to change the conversation with drivers from price to value, from savings to safety.

A message to insurers

Embrace the smartphone, for it’s more than just a phone. Stop looking at risk as something you manage, and take the advantage to influence it. Stop assessing who wants to drive, and start understanding how, when, where and why they really drive. And use this to find ways to become “sticky” by being a more valuable part of your customers’ lives, not just an annual mandatory purchase.

Fill out the form for more valuable insights on how motor insurers can adapt to meet customer expectations: 

Reduce unwanted driver behavior with telematics

Telematics technology has enabled insurers to learn, almost in real-time, about the driving behavior of their customers. But as the data is collected, they are also realizing the power of telematics to effectively change driving behavior.

Avoiding risks

Are telematics users more prone to less risky driving? Can the use of telematics apps really have an effect on their driving?

A clear “yes” is the answer to both questions. Our latest research, based on several years of data across several countries, provides strong indications confirming these answers.

Our analysts investigated how engagement (in terms of a number of months users used the apps) and the number of trips recorded on average per month affect risky driving indicators: over-speeding instances per trip and risky maneuvers (ABC: acceleration, braking, cornering).

The data indicates that every additional month of using the app significantly decreased the average trip speeding time between 5 and 15%. Moreover, the number of risky ABC maneuvers per trip declined between 15 to 20% with every additional month of app usage. 

User engagement expressed as the number of trips recorded per month has a strong and significant effect on the improvement of driving behavior.

However, a certain caution in the interpretation of such results is also necessary. Numbers may vary not only due to differences in local conditions or driving culture but also based on the type of incentive and reward programs offered by the insurance companies.

A well-trimmed incentive program can lead to dramatic changes in engagement, driving behavior, both leading to reduced claims. Usage-based insurance programs need to be trimmed to motivate long-term and regular use of the apps, but insurers should not be afraid to combine them with short-term campaigns as well. As we can observe, the key to reducing claim risk seems to be in user engagement.

Did you know that users of the Amodo app have a 60% lower probability to be involved in an accident with fatal injuries?

Fill out the form and find out how to prevent risk with the help of telematics:

Digital Broker: taking the insurance business to a new level

While adoption of technology among insurance players has been slower than in other industries, today’s insurance consumer is more connected than ever before. It is therefore not surprising that consumers expect their insurance providers to adapt and evolve towards the digital landscape, driven by their digital interactions in other industries.

We see more and more brokers partnering with technology providers and adapting the digital business model in order to build holistic profiles of their customers and to provide unique personalized insurance propositions. 

Digitalization enables the broker to automate operations while:

  • Achieving higher efficiencies, 
  • Changing the insurance product creation process, 
  • Understanding the unique needs of the insurance customer.

Technology companies or InsurTechs are providers of technological expertise, who can push the industry forward with innovative solutions, providing brokers with more time to focus on management and improvement of customer engagement and experience, which in turn leads to increased retention and business growth.

According to the Applied Digital Broker 2018 Survey, based on more than 1,300 independent brokers (across the UK, Ireland, U.S., and Canada), brokers that transition to a fully digital business model experience 156% higher revenue per employee (RPE). 

Further, RPE increases by 37% for brokers that provide clients a mobile app, 18% for brokers that digitally connect with insurer partners and 60% higher for brokers that adopt data analytics solutions.

Partnerships between InsurTechs and brokers with P&C offerings can provide various benefits for the broker.

Digital broker benefits

Insurance brokers are able to distribute their insurance products directly through digital smartphone channel and provide the next generation of personalized insurance products and services to existing customers, as well as attract new ones. A better understanding of customer needs will enhance their engagement and create a better, more personalized customer experience. Consequently, this will ensure the differentiation of such brokers in the market and strengthen customer loyalty. 

Did you know that Amodo Clients achieve up to 32% conversion from download to policy purchase?

Fill out the form and find out how you can digitalize your insurance company:

Whitepaper – tech revolution in the auto insurance industry

This whitepaper gives an answer to tech leaders looking for a new strategy in this current digital revolution.

Topics included in this publication:

  1. Usage-based insurance – thinking beyond the black box
  2. Time to get real with relationships
  3. Five challenges and opportunities in going digital
  4. Unlocking the value of data

This Raconteur’s Digital magazine sponsored by Amodo, provides valuable insights on how Insurance players must adapt to meet customer expectations.