Greater Than (GREAT), the AI data analytics provider, is taking motor underwriting into a new era. The company’s AI unlocks future cost for accidents per driver, thus providing a time advantage of 12 to 18 months’ over traditional risk models. A time advantage that fundamentally changes how motor risk proactively will be mitigated, managed, and priced.
Data has always been an essential aspect of the insurance industry. Adding AI into the equation, a precise understanding and accurate pricing of current customers’ future risk and claims costs are added. As Greater Than’s AI solely use impartial and indisputable data, it provides the uttermost and reliable analyses applicable to any market across the world.
“Our AI platform is an extremely sophisticated tool that directly transforms current data into future risk information and potential damage outcome per individual. As our AI understands the future, with incomparable accuracy and granularity, it also gives our customers a huge time advantage”, – says Liselott Johansson, CEO of Greater Than
As part of the transportation development, more people begin to use alternative means of transport services. Car-sharing, ride-hailing and pay-as-you-go services are such. More advanced technology is needed to serve and transparently price such services. Historically, cars used by several drivers have always been complex to underwrite. A complexity that AI risk management can solve by its capacity to price per user and behaviour behind the wheel simultaneously displays current and future risk costs.
“Lately, we have experienced increased use of our services by our insurance fleets and new mobility customers such as Car Club in Singapore, Zurich and Onto in the UK and by Toyota Kinto in Japan. As they gain a better understanding of the present and the future, they can quickly adjust to market demands and launch new appealing services and features should they wish. Overall, it’s an exciting movement we see ahead”, Liselott Johansson continues.