Elly Yates-Roberts |
Telematics solution provider Telematicus has been working with telecommunications company O2 as it entered the insurance industry with its solution O2Drive. The car insurance product uses Microsoft data analysis solutions such as Azure Datalake, Data Factory and Power BI to assess driver risk and provide a fair price for insurance.
The solution includes two products: a ‘box onboard’ which sits inside the car and a mobile phone application. Both collect data on how the user drives, and this data is then analysed with various algorithms and models to produce a driving score, which provides a risk assessment so that O2 knows how much to charge its customers.
According to Suvo Datta, general manager of Smart Insurance Telefonica (O2), the company entered the insurance industry to give customers better deals and a better service.
“Customers have been delighted – our net promoter score is roughly 55, and that is at least 3 times more than any of our nearest competition,” he said, in a YouTube video discussing the partnership with Telematicus. “We are able to do that because of how we manage and use data, and how our partners bring that data to life.
“The [technology] is a massive part of our proposition and therefore Telematicus has been an invaluable partner which has not only listened to us but has delivered a solution both reliably and consistently. [It] has helped us be where we are today and grow quite quickly in a very traditional market.”