Revolutionizing Insurance Industry via Telematics
Today, the internet, smart devices, and other technologies have transformed the way people sell and purchase insurance. Taking the industry a notch higher from generalization to personalization is Telematics. This innovation has the potential to fundamentally change insurance propositions, especially in the motor and automotive sectors.
However, as most insurance carriers and brokers have followed traditional business methods for a long time now, keeping up with the new trends, demands, and transformational activities has become quite arduous. As a result, insurers are struggling with a range of strategic, technological, and regulatory issues. They are seeking to understand consumer perceptions, driver psychology, and how to use telematics technology effectively.
A trailblazer in the insurance industry, Amodo addresses these issues with its groundbreaking telematics platform and a team of experts who help insurance companies radically change the way they meet the needs of their customers. Since its inception in 2013, the company has been working relentlessly toward providing robust tools to companies interested in applying insurance telematics.
Although modern technologies have made the insurance ecosystem simple, convenient, and easy, there are a few gaps between the customer expectations and the capabilities of insurance companies to deliver products. For starters, today’s new generation consumes different financial products from various sources. They want to receive personalized offerings from their financial institutions on their preferred devices, mostly on mobile phones.
“We identify such gaps and bridge them using smartphone-based solutions. We not only offer, but help insurance companies implement telematics, which allows them to develop their own preferences,” states Darko Tukulj, Chief Growth Officer (CGO) of Amodo.
Amodo Connected Insurance Platform enables its clients to collect and analyze user behavior data from various sources, develop and sell new categories of insurance products, and engage with customers, all through a smartphone.
The full version of this article is available in the APAC CIO Review magazine.
Amodo is an insurtech company on a mission to disrupt the insurance industry. By turning users’ smartphones into powerful telematics sensors, Amodo Connected Insurance Platform enables insurers to deliver tailor-made products by gathering and contextualizing behavioral data. Over the past eight years, Amodo launched more than 40 different Connected Insurance Products worldwide, with some of the leading companies such as AIG, Porsche Insurance, BNP Paribas Cardif Insurance, UNIQA, and many others. Amodo was named by Financial Times as one of the top 5 Insurtech companies globally, is a winner of a prestigious Digital Insurance Agenda Diamond Award in 2020, and has been named by Frost and Sullivan as the Best Practice Leader in the Usage-Based Insurance market in 2021.