Greater Than (GREAT.ST), the insurtech using AI for pricing insurance based on real-time analyses of drivers’ accident probability, has in partnership with the Tryg A/S now tailored Tryg Sidekick to include electric vehicles. As Norway is the world’s largest market for EVs, the insurance offering addresses an ever-growing need for dynamic, fairer, and more transparent premiums also for drivers of electric vehicles.
Tryg’s insurance offering Sidekick is tailored for younger drivers aged 18 to 30 years old. The offering is based on Greater Than’s AI technology, making it possible to price auto insurance products competitively and indiscriminately. Another core value of the Sidekick offering is that it makes it possible also to influence the cost and reduce it by up to 30 per cent by driving safer.
“Environment and safety are at the heart of everything we do. With innovations such as Sidekick, we allow the growing amount of young EV owners to get affordable insurance by driving safely and smartly, helping to reduce the number of traffic-related injuries. – Said Øyvind Stople, Product Manager, Tryg Motor Private
As the Norwegian market boasted electric car sales at around 74 per cent in the last couple of years, the new offering meets the fast-growing demand for personalized premiums compared to the traditional pool pricing model for EV’s.
“It is exciting to see how Norway, the world-leading market for electric cars, now taking electric car insurance to a whole new level with Tryg’s EV offering. By adding AI to the equation, Tryg will non-discriminately price EV owners. This is where auto insurance is heading, and we are incredibly proud to contribute to its further development.” – Said Johanna Forseke, Chief Business Officer, Greater Than.
About the insurance offering:
Unlike average telematics or usage-based insurance products, Tryg Sidekick enables an app2car connectivity that seamlessly onboard EV owners to the insurance offering. Policyholders pay a fixed sum and can earn deductibles as a reward for good and safe driving and when recruiting friends. The first SideKick insurance offering was launched in 2018 and is available for car drivers between the ages18 and 30. So naturally, the better they drive, the more money they can get back in return.