ABAX enters motor insurance market

ABAX enters motor insurance market

Telematics company ABAX has picked Greater Than as its partner to enter the motor insurance market.

It has picked Greater Than’s AI analysis platform to launch a dynamically priced auto insurance offering in Norway for its B2B fleet customers.

The insurance offering is a leap forward for ABAX’s continuous work analysing mobility data to provide added value for customers and fleets in the B2B market. With a dynamically priced offering, ABAX customers will benefit from increased transparency and lower insurance cost through.

ABAX CEO Morten Strand said, “Integrating the two platforms is a huge competitive advantage. The ABAX platform with real-time data, combined with the leading AI platform from Great Than, will provide one of the best risk analysis tools in the insurance industry.

“This collaboration enabled us to develop the first B2B data-driven insurance solution together with Tryg Norway.”

Greater Than is an AI data analytics company that predicts crash probability and CO2 impact per driver in real-time. This revolutionises auto insurance pricing and new business solutions for the automotive, new mobility and fleet industries globally.

Speaking on the partnership with ABAX, Greater Than CEO Liselott Johansson said, “It is exciting to work with ABAX on their journey into this new field of using mobility data in the insurance business for the B2B market. They break ground for the next generation of telematics. Their market expertise and our competence in risk analysis with precise pricing make us the perfect match to continue to disrupt and develop at a fast pace.”

Greater Than has had an active year. It recently teamed up with Japanese insurance provider Sompo Japan. The companies worked together to develop a carbon neutrality service in the auto insurance industry.

The platform, the companies said, will aim to reduce traffic accidents by promoting safe driving and reduce GHGs from car usage. Using Greater Than’s AI technology, it will measure and visualise CO2 emissions for vehicles and calculate an index of safe driving from data such as sudden braking and other driving behaviours.

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