Kenya has established itself among the leading countries in
Africa in the motor sector, it is the first country in East Africa and second
in Africa, after South Africa to launch a mass-market telematics motor
Godfrey Kioi, Managing Director of Heritage Insurance Kenya, which developed the solution said that it is meant to reshape customer behavior, creating a desire for personalization and transparency from companies.
The insurance solution dubbed “AutoCorrect” promotes and rewards good driving by collecting and transmitting driving behavior of acceleration, braking, and cornering.
The comprehensive formula combines the driving data which will be used to calculate the driving score and determine how well or poorly a vehicle is driven
“Telematics is not limited to the pricing of motor insurance or driver behavior, With telematics, we can make more effective use of data to deliver enhanced customer experiences, while posting improved motor insurance results for our shareholders,” said Mr. Kioi.
benefit from the policy through reduced cost of insurance which will be
achieved through premium cashback to the customer at the end of each policy
year and it will be based on the customers’ overall driving scores.
“Our usage-based insurance (UBI) product, AutoCorrect, is a feasible answer to the ever-changing customer journey and industry, which has seen the emergence of innovative customer channels and millennial adoption of new technologies. Usage-based insurance (UBI) and acceptance of telematics capability in modern vehicles is expected to outpace traditional insurance,” added Mr. Kioi.
Besides, through the technology, drivers can download an app that provides driving feedback, weekly, monthly and annual scores as well as the accumulation and management of loyalty points.
In South Africa, telematics technology used to track vehicles is highly advanced and is used widely.
Featured Image Courtesy: Capitalfm.co.ke
Found the article interesting ? Follow us on Twitter to see what others are saying about it.
9500+ subscribers are getting our free newsletter on African technology, startups and innovators bi-weekly.
Made with ❤ in Africa