Porsche releases pay-how-you-drive (PHYD) cash-back concept

Usage-based insurance (UBI) also known as pay-as-you-drive (PAYD) and pay-how-you-drive (PHYD) is a model of auto insurance where policies depend upon the type of vehicle used, measured against time, distance, behavior, location and additional data. 

Porsche bank gave its selected customers a chance to acquire a discount on their monthly fee while using the PHYD program. The discount and cashback are based on their improved driving skills. In the second phase, this project is expected to become available to all Porsche customers.

In late 2016., Porsche Smart Driver was launched as a pilot program by Porsche Bank on the Amodo platform. Next year it was declared as the winner of the “Kurs award” by the International Institute for Research (IIR) in Vienna. 

Following this success, the program is recently updated with functionalities that are providing more direct value to its users. Based on the number of parameters, drivers can get a monetary value in the form of monthly cash-backs, based on their road safety performance. With this improvement, drivers get a very direct response and an incentive for their driving style.

Find the video by clicking here.

Smart Driver app is also available here for all those who want to benefit from their safe drivings. The app is not only reserved for insured users who want to save on their premiums, but also for those who want to test and improve their driving skills. All users of the app have the opportunity to participate in challenges and win prizes provided by program partners: gas stations and restaurants. This makes the program interesting for all drivers in Austria.

Smart Driver app

The app collects data via the OBD device or a GPS sensor of user smartphone to measure speed, acceleration, cornering, and braking while driving. Based on these parameters and scoring, driving behavior is evaluated with the Amodo scoring system. The driver receives a detailed evaluation of his driving behavior after every journey. Every smart ride can lead to lower claims and consequently to a clearer proposition to drivers.

About Amodo

AMODO is one of the most successful European InsurTech firms and has built a state-of-the-art and market-proven technical platform to connect with new customers and offer personalized insurance products, in a simple and convenient way.

Fill out the form below for more information about our platform:

New partnership with P&V and partners in Belgium

Amodo is the technology partner of ambitious cooperation between the leading national car distributor and the insurance group in Belgium. This ecosystem developed in the mobility sector is one of the ways to monetize different value propositions for the benefit of end-users. After the cooperation with Porsche Salzburg, this is the second cooperation program between an insurer and a car distributor based on the Amodo Connected Mobility platform.

The program that runs under weCover brand offers car insurance based on driving behavior from P&V Group, and additional gifts by improving your driving style for VW Group car owners through a collaborative model with D’Ieteren Group. Mobile app for drivers has multiple faces as a reflection of the chosen car brand, and also segments users based on that choice and other datasets, and engage them to ensure their attention for other propositions.

Using OBD devices and smartphone sensors, the app enables PHYD policy management and distribution from the recorded speed, braking, acceleration, time of day and road type.

“The Amodo team is excited about our new partnership with P&V Group,” said Marijan Mumdziev, CEO of Amodo. “This partnership will enable P&V to deliver new features that will help their customers become more engaged and realize the full spectrum of opportunities that our platform has to offer, but it will also enable Amodo to develop its mobility platform tailored for the insurance industry.”

About P&V group

P&V stands for Prevention & Precaution. The basic idea for the establishment of P&V in 1907 was solidarity with the insured and society. That motivation is still the same today. Offer fair protection to as many people as possible, and on the best terms.

About Amodo

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 for more information about our platform:

BNP Paribas Cardiff & Amodo partnership explores insurance opportunities in the shareable economy

The Amodo and Paribas Cardiff partnership started in 2015, following Amodo winning the BNP Paribas call 4 ideas program. Since this victory Amodo has worked closely with BNP Paribas Cardiff as a part of their strategy to enhance traditional insurance products to preventative, customer orientated, data-focused, and technology-driven services.

The first joint project “Safe Ride & Drive” a mobile protection app, addressed the issues relating to distracted driving in the Italian market, with focus placed on the mobile-savvy driver segment aged less than 24 years old. Through the Amodo platform young BNP Paribas Cardiff drivers & their parents gain access to a set of support services such as Geo-Location of the car, avoid text/calls while driving functionality and for the sharing of driving behavior and drivers related alerts.

The next phase of the Amodo/ BNP Paribas Cardiff partnership broadens to exploring the role Insurance can play in the developing Carpooling / Ridesharing economy. Prototypes of a Shareable Mobility Profile have been developed that capture driving data and continually assess performance to create a virtual driving score.  The purpose is to provide peace of mind to operators, ensuring that their cars will be safely used and to also provide individualized benefits to the driver based on the transferable mobility profiles. On-Demand Short Term Insurance Products will be available to end-users, to be distributed via the mobile app and the data-driven profiles will provide Insurers an accurate platform to calculate premiums.

About Amodo

AMODO is one of the most successful European InsurTech firms and has built a state-of-the-art and market-proven technical platform to connect with new customers and offer personalized insurance products, in a simple and convenient way.

Fill out the form below for more information about our platform:

The Amodo telematics platform continues to expand in Asia

We at Amodo are continuing to extend our footprint in Asia with AIG Singapore announcing the launch of “AIG on the Go” using our Telematics platform.

The program scores a driver’s performance every time they are behind the wheel, which is measured by applying factors such as acceleration, braking, cornering and speed. Using their score all drivers in Singapore are eligible for a discount on their AIG Insurance premium of up to 15%.

Additionally, drivers can benchmark their skills by participating in contests where they can compete against other driving enthusiasts for the chance to win spot prizes. The overall winner will be announced as Singapore’s best driver to win a years’ worth of fuel, car spa and a cash card worth S$10,000 in total.

Using real-time data and a gamified approach the Amodo platform delivers a customer-centric sales conversion tool, which reduces risk while changing the way Insurers connect with consumers.

For more information about our work fill out the form below:

Porsche Holding partners with Amodo to deliver the “Smart Driver” App

Amodo is delighted to have entered a new partnership with Porsche Holding, the largest automotive distributor in Europe, to deliver “Smart Driver” an app that evaluates driving behavior using telematics data. Launched at the Vienna Autoshow, Smart Driver is available to all drivers in Austria via the Apple Store and Google Play.

Porsche Holding in association with its partners will launch a 3-month competition beginning February 1 to discover and reward the safest driver’s in Austria, with the Amodo platform providing a unique communication channel in the after-market segment. Top monthly drivers will receive €500 worth of free fuel and the overall winner, a €1000 fuel prize. The competition also includes mini-challenges, where drivers can receive prizes such as coffee and hotel vouchers.

The Amodo technology will allow drivers to evaluate their driving behavior using real-time data, where factors such as speed, braking, acceleration, weather conditions, time of day and road type will all be scored and considered. After every journey users will be given a detailed evaluation of their driving behavior, making it possible for each individual to improve road safety.

By rewarding safe driving, Amodo offers a fresh approach to marketing solutions through the delivery of customer engagement, value and loyalty propositions.

Fill out the form below for more information about our platform: 

AIG launches the first bilingual driving app in Hong Kong: based on Amodo platform

AIG Insurance Hong Kong Limited (“AIG”) has launched a first-of-its-kind competition: “Are you the best driver in Hong Kong?” Open to all private car drivers in Hong Kong, the competition will reward the best driver with one year worth of free fuel (valued at HK$15,000).

By downloading the AIG Drive Master app, the only intelligent driving app available in Chinese and English in Hong Kong, participants will become eligible to compete for many prizes. More details on the competition and the program are available here.

Being a technology vendor for such innovative projects and companies is what Amodo mission is all about. Innovation is a process spanning multiple organizational levels, and for it to see the market, all of them need to be synchronized and work towards the same goal. Not many organizations can achieve that holistic innovation capability and when they do and Amodo is a part of it, it is a great deal for us!

About Amodo

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 for more information about our projects: