Objetivo
The world is shifting to a new business model, were customers have changed their purchasing path: they are happier subscribing to the outcomes they want, when they want, rather than purchasing a product with the burden of ownership. Consumers today have new expectations; they want to achieve outcomes, not ownership; customization, not generalization. The car insurance market is traditionally linked to the old bonus-malus model, a system that penalizes the ones who make accidents and rewards those who do not incur in them. In a consumer oriented world, insurance becomes a tool for the driver and not just a mandatory cost. What do you think about a relevant cost reduction (up to 40%) but also an added value according to driver behaviors? And what about a system connected with your necessity? A free coffee when you are tired? Gasoline discounts? A free coverage for your weekend because you are a good driver? FAIR meets such requirements, developing a cloud-based ecosystem to commercialize big data and machine learning based insurance, turning customers into subscribers. The coordinating partner in cooperation with an insurance broker and a multimedia company is launching an on-demand insurance service for connected cars. The new insurance policy is revolutionizing the traditional sector with a Pay-Per-Mile and Pay-how-you drive approach, introducing access to discount/cash back opportunities, setting-up and managing insurance packages via app and accessing new safety and reporting functionalities. The new model will be coupled with a service for car dealers and fleets that will bring advantages in terms of car health remote monitoring, knowledge of customers’ experience and advertising tailored service. The competitive advantages: superior risk selections and loss control; analytics to support digital underwriting process through a war room based on driving and crash data; better pricing and cost claims reduction and reporting functionalities to government facilities.
Ámbito científico
CORDIS clasifica los proyectos con EuroSciVoc, una taxonomía plurilingüe de ámbitos científicos, mediante un proceso semiautomático basado en técnicas de procesamiento del lenguaje natural.
CORDIS clasifica los proyectos con EuroSciVoc, una taxonomía plurilingüe de ámbitos científicos, mediante un proceso semiautomático basado en técnicas de procesamiento del lenguaje natural.
- engineering and technologyenvironmental engineeringenergy and fuelsliquid fuels
- natural sciencescomputer and information sciencesdata sciencebig data
- social scienceseconomics and businessbusiness and managementbusiness models
- engineering and technologyelectrical engineering, electronic engineering, information engineeringinformation engineeringtelecommunicationsmobile phones
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
Programa(s)
Tema(s)
Convocatoria de propuestas
Consulte otros proyectos de esta convocatoriaConvocatoria de subcontratación
H2020-SMEINST-2-2016-2017
Régimen de financiación
SME-2 - SME instrument phase 2Coordinador
20124 MILANO
Italia
Organización definida por ella misma como pequeña y mediana empresa (pyme) en el momento de la firma del acuerdo de subvención.