IoT for Connected Insurance

The Internet of Things expands insurance capabilities via in-depth telematics.

READ THE BRIEF

Get Realistic
Risk Assessment

With IoT, insurance companies can monitor real-world car and driver actions to offer realistic risk assessment based on driving behavior. Instead of spending money on compiling statistics to determine rates, it is now possible to employ smart devices and Aeris’ cellular connectivity to gather immense quantities of data, benefiting both insurance companies and their customers.

Simplify Insurance and Improve Customer Satisfaction

The Internet of Things is changing the insurance landscape, and customer and business expectations for insurance are evolving. With Aeris’ platform-based, scalable, connected insurance solutions, it is possible for insurance companies to work more efficiently and provide a wide variety of helpful services to customers. Sensors and devices can absorb data at an unprecedented rate, allowing for better, simpler insurance.

Speed Up Processing

Quickly gather, analyze, and react to volumes of data to speed up the entire claims process.

Reduce Fraud

Get the in-depth data you need to identify for possible fraud by matching claims to incidents.

Manage and Retain Customers

Maximize customer value, attract more low-risk customers, and identify those likely to lapse.

Let Customers Self-Settle Claims

To reduce settlement times, allow customers to self-document damage and file for claims.

Manage Risk

Develop a pricing system based on risk and reduce the percentage of high-risk customers.

Reduce Costs

Reduce underwriting costs, make better financial decisions, and pass savings on to customers.

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IoT Insurance:
Providing Value

Aeris gives insurance companies the opportunity to incorporate new functionality with ease while changing the perceived and tangible worth of products and solutions. With Aeris’ platform, it is possible to select and manage smart devices, gain cloud storage and SIM management, and manage assets—regardless of device, location, amount of data generated, or billing requirements.

Combining Machine Data with Cloud-Based Data

The traditional approach—using machine data and time-consuming research to determine premiums—is no longer the best approach. Now, in order to remain competitive, it is necessary to combine machine data with additional cloud-based public data sources, producing analytics-based enhanced scoring algorithms. Insurers can modify these flexible, built-in algorithms based on customer driving patterns.

Aeris can assist with all your connected insurance connectivity needs. To get started on your connected insurance journey, please call us today.

Benefits of Using IoT for Insurance

Driver Risk Assessments

Get in-depth vehicle and driver data to determine risk levels on a personalized, contextualized basis.

Vehicle Performance

Get a comprehensive view into performance data and vehicle maintenance information.

Asset Assurance,
Asset Protection

Track and trace all assets, including idling assets and non-performing assets. Disable vehicles in the case of theft, and provide recovery assistance.

Pay-As-You-Go Pricing

With flexible, pay-as-you-go pricing options and a transparent management portal that offers insight into data usage and billing, it is easy to manage expenses and lower your TCO.

Reports, Apps, APIs

Generate vehicle and driver reports, provide mobile apps for ease of use and APIs for integration.

Accident Reconstruction

View data before and after accident, as well as driver behavior during incident, to get valuable insight.

Driver Coaching

Improve driving behavior with recommendations, warnings, and distracted-driver detection.

Actuarial Support

Define risk factors, establish models, and get periodic reviews.

Driver Insights

See if drivers are braking or accelerating hard, speeding, making hard turns, or driving on rough roads. Get insight into mileage, hours of usage, peak/off-peak driving, intersection count, weekday/weekend driving, and day/night driving. By collecting data on individual driving patterns and using flexible, built-in algorithms, connected insurance companies can offer premiums that are based in reality and can provide tailored solutions to each customer.

More Data,
Greater Oversight

By installing smart devices in cars, connected insurance companies have the ability to collect and analyze data about driver behavior and vehicle performance. Aeris’ advanced feature sets make it possible to reconstruct accidents, reduce theft, manage claims, identify false claims, coach drivers, analyze data, and more.

Do more with AMP

Make the most of IoT insurance with our Integrated APIs and reporting capabilities.