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Scope Technologies Launches Driver Scoring Platform for Insurance Market - Scope Technologies, a global leader in telematics and usage based insurance technology has announced the launch of its second generation driver scoring platform for insurance companies offering Usage Based Insurance (UBI) products to their customers
Scope Technologies Launches Driver Scoring Platform for Insurance Market

 

PRZOOM - /newswire/ - Singapore, Singapore, 2011/04/21 - Scope Technologies, a global leader in telematics and usage based insurance technology has announced the launch of its second generation driver scoring platform for insurance companies offering Usage Based Insurance (UBI) products to their customers.

   
 
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The user friendly platform is a sophisticated business intelligence tool which converts telematics data into meaningful insurance information. It provides a simple interface which enables the insurance company to define which information it is interested in, and to then build complex algorithms to calculate an individual score per vehicle that reflects the accurate risk assessment. The platform is designed to assist insurance companies implementing a full driver behavior based UBI program.

The scoring platform takes data feeds from in-vehicle telematics devices (trip and driver behavior information) and overlays data from external information sources (speed limits, road type, weather etc). This data is then processed based on user configured parameters and event severity. The platform allows for the calculation of a behavioural score based on a user defined scoring formula, and for the processed data to be extracted into existing in-house insurance backend applications for further actuarial analysis and interpretation.

This platform has been developed by Scope Technologies in association with Hollard Insurance Company of South Africa. Notably, these companies have a Joint Venture (“DriveProfiler”) which provides a comprehensive suite of tools and expertise with which to structure, monitor and manage UBI programs, including cutting edge telematics technology, data gathering, data analytics, motor insurance and UBI experience.

Commenting on this launch Monty Nussbaum, Director of Scope Technologies said “After our release of the low cost self installed OBD in-vehicle telematics device for the insurance market last year, the driver scoring platform will provide a further enabler for insurance companies offering motor insurance truly linked to driver behavior. With this, we can offer the market a single stop technology solution for their UBI needs. We hope to continue the winning streak by adding new products and capturing market and mindshare.”

 
 
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Agency / Source: Scope Technology (Asia) Pte Ltd

 
 

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Scope Technologies Launches Driver Scoring Platform for Insurance Market

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Contact: Pravar Gautam - ScopeTechnology.com 
+65 6538 4385
 
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