Aioi Nissay Dowa Insurance has deployed Cambridge Mobile Telematics’ new DriveWell Fleet program to improve the safety of commercial drivers and reduce claims, the companies announced.
CMT’s offering, available to insurers and fleet owners, gives Aioi Nissay’s drivers and managers an IoT-enabled smartphone app that offers trip-by-trip feedback, gamification functionality and a web portal to review past user scores and habits. The Japanese insurer launched its new service, dubbed Biz Safety, last month.
“Vehicle management through the use of telematics has drawn much attention recently,” said Katsuhiko Sugeta, general manager of product planning at Aioi Nissay, in a statement. “We expect that this program can meet our commercial customers’ needs.”
Aioi Nissay is also a user of CMT’s existing DriveWell program for personal auto. According to vendor statistics, nearly one million drivers to date saw a 35% deduction in phone use and a 20% decrease in hard braking after 30 days. Both Aioi Nissay and CMT expect similar results from DriveWell Fleet.
"Lax regulation and monitoring of property insurers makes Florida mortgage markets far more exposed to climate risk than people might think," said Parinitha Sastry, an author of a working paper by researchers at Harvard University, Columbia University and the Federal Reserve.
By collaborating, cybersecurity professionals and insurance providers can share insights, best practices, and trends in cyberthreats, creating a more secure environment for all.
AI has great risks for underwriters but also great potential benefits, according to Randy Paez, chief information officer of Ambac. Paez spoke with Digital Insurance about how to leverage data and integrate AI into insurance operations.