Adacta, a leading insurance software provider, announced today a strategic partnership with Motion-S, a Luxembourg-based leading data-driven behaviour analytics solution provider, to help insurers benefit from turnkey technology in the mobility ecosystem.
Telematics has paved the way for usage-based insurance, making a huge impact on premiums and how they are calculated. The benefits of dynamic pricing models multiply when insurers do not try to build their own but rather source the data and knowledge from an ecosystem. However, open and flexible core systems are a prerequisite. The partnership between Motion-S and Adacta combines the very best of both: the telematics platform ensures all the benefits of accurate risk profiling while AdInsure`s open architecture and flexible product configuration options facilitate product digitalisation. Merging the two is the beginning of the creation of interesting and effective ecosystems.
“Ecosystems are becoming extremely beneficial, some even say essential, for insurers. Whether thinking of joining or designing their own ecosystem, insurers need to invest in their technology as well as organisational capabilities. In terms of technology that means scalable and flexible API-based IT architectures that support quick integrations,” says Boris Bajic, CEO at Adacta. “We’ve built AdInsure with connectivity in mind and are already looking forward to seeing all the ways our clients will benefit from our newest partnership. Motion-S is a leader in its field and we are extremely happy their solution will enrich our platform.”
“Connected vehicles and digitalisation are changing the way insurance has been proposed traditionally. We are no longer working with traditional pricing based on static variables. At Motion-S, we make sure insurers design their digital strategies based on data augmentation, user profiling, and objective scoring,” says Dr.-Ing. German Castignani, CEO at Motion-S. “With our telematics and data analytics platform, insurance companies can profit from many opportunities: staying ahead of the competition, increasing retention rates, cross- and upselling other life and non-life insurance products, knowing more about mobility needs and lifestyle behavior, and having a constant positive communication channel with its customers.”
As an indication of their commitment to the partnership, Adacta and Motion-S have started working on a proof-of-concept focusing on the CASCO motor insurance product with premium adjustment based on information required from the client risk profile. Coverages for selected clients will also be tailored based on the client risk profile.
Press release by Motion-S
Publié le 11 février 2021