Profiling the driver behavior in real-time based on the data collected from vehicles to arrive at safety rankings and creating personalized insurance plans is a proven method of reducing the costs and rewarding the safe practices.
Problem: Customer needed to be able to calculate the insurance premium based on the usage of the vehicle
Methodology: Cenacle built a vehicle usage tracking platform with below features:
- Vehicle journeys are analyzed using the OBD sensor data
- Driver behavioral profiling is done to assess the safety ranking of the driver
- Driving patterns, such as hard braking, signal jumping, riding the brakes etc. are taken into consideration to arrive at the safety ranking
- The rankings are tied to the insurance premium rewarding the fuel efficiency and safe driving behaviors
Results: A software platform to analyze the vehicle usage trends and derive the driver safety rankings
Key concepts: OBD sensor analysis, Journey analytics, M2M Telematics
Domain: Automotive, Banking, Finance, Insurance
