Connected insurance is our commitment to adopting new, simplified solutions that reduce cost and support driver safety. With technological advances, widespread use of smartphones, and the emergence of the gig economy, there is a desire for an integrated and easily customizable insurance purchasing experience that can be done on-demand, in real-time.
We are working with REIN to develop a connected platform that powers insurance innovation for Volvo Group customers across the globe. We are one of the first movers in this area, delivering benefits to you, such as reduction of paperwork, an easier quotation and signing process, premium pricing and more accurate premium adjustments. These benefits also improve driver safety and may lower total cost of ownership for our customers using telematic data.
Insurance can be complex. But we’ve made it simple. With our new online platform, you can handle all insurance-related needs— from quotation to claims—digitally.
This “connected” Insurance will in the future allow you to proactively manage vehicle fleet risk because telematic data, such as speed, hard braking, time and duration of operation is gathered resulting in the ability to reduce insurance premiums based on exact driving metrics. It also means real-time insurance pricing, faster claims handling, and accident assistance.
We partnered with REIN, a leading insurtech start-up company, to deploy the next generation of connected insurance services. REIN showcased its insurtech platform at our Volvo Financial Services incubator program, iLabX.
Founded in 2015, REIN has offices in Chapel Hill, NC, Maynard, MA and Halifax, NS and brokerage licenses in all 50 US states. REIN has established connections with insurance industry players and deep expertise in data analytics & artificial intelligence, designed around the ability to constantly evaluate risk and pricing for customer-centric insurance programs.
For more detailed information, or to find out what solutions VFS offers in your market - go to your local market site.