UBI

USAGE BASED INSURANCE

 

Background

UBI has traditionally been the biggest driver of telematic connectivity within the automotive aftermarket . For an insurance company to be able to understand how well or badly its policy holders are driving and maintaining their cars is an obvious precursor for providing far greater precision in underwriting and pricing. And data is the key …

Use case 1 - TPMS

NC1701 can report on the TPMS (Tyre Pressure Monitoring)  status of a vehicle’s tyres. Wrongly inflated tyres can lead to accidents and be an indicator of a badly maintained vehicle.

Maintaining the correct tyre pressures is important because a wrongly inflated tyre (under or over inflated) can cause any or all of the following dangerous conditions:

  • Affect handling 
  • Overheat
  • Poor fuel efficiency

Insurance companies that can access their UBI clients TPMS values can use this information within their rating mechanisms

Use case 2 - Maintenance History

NC1701 can report the Service status of a vehicle  – when its next service is due or whether its overdue. Along side this, NC1701 can  deliver granular maintenance data on things like

  • Oil level
  • Oil quality
  • Brake fluid levels
  • Brake pad wear
  • Diesel Additive (AdBlue) level

All of these items give UBI companies a clear advantage in understanding how well maintained their client’s cars, which in turn feed into their rating mechanisms

 

Use case 3 - Vehicle Health

NC1701 can report the Service status of a vehicle  – when its next service is due or whether its overdue. Along side this, NC1701 can  deliver granular maintenance data on things like

  • Oil level
  • Oil quality
  • Brake fluid levels
  • Brake pad wear
  • Diesel Additive (AdBlue) level

All of these items give UBI companies a clear advantage in understanding how well maintained their client’s cars, which in turn feed into their rating mechanisms

 

Use case 4 - Seat Belt Status

NC1701 can report the status of the driver and passenger seatbelts in the vehicle.

In the aftermath of an accident, the insurer can tell whether the occupants had their seatbelts fastened or not and cover any resulting claim correspondingly.

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