Maybe if dashcam AI analysed driving styles, traffic volume, road conditions, speed etc that would go some way to setting real time PAYG car insurance pricing? Hey, it’s one future scenario. Here’s the word on a new partnership;
InsureVision, the London-based company specialising in AI-powered contextual driving risk assessment, has announced a strategic partnership with Mitsui Sumitomo Insurance Co., Ltd. (MSI), one of Japan’s largest insurance companies with operations in 41 countries and regions worldwide, and part of the MS&AD Insurance Group. The collaboration will focus on developing a Japan-specific AI model for analysing dashcam footage to enhance risk assessment and promote safer driving behaviours across the Japanese market.
Japanese insurers are looking to enhance their driving risk assessment capabilities beyond what traditional telematics and basic dashcam solutions currently offer. With over 560,000 telematics-based auto insurance policies already sold, MSI has demonstrated its commitment to connected mobility and data-driven innovation. By incorporating contextual analysis of driving situations, MSI can further refine risk assessments, strengthen driver training programmes, and promote safer driving. This advancement is particularly valuable in Japan’s complex and densely populated traffic environment, where understanding driver intentions and contextual risk provides significant advantages.
“MSI is promoting digital transformation to enhance our risk assessment capabilities and deliver higher value to our customers,” said a representative from MSI. “This proof-of-concept with InsureVision.ai will allow us to develop advanced AI-driven analysis of driving behaviours through dashcam footage, providing more accurate risk assessments for commercial fleet operators in Japan. By leveraging InsureVision’s specialised AI technology, MSI aims to create innovative insurance solutions that not only respond to accidents but help prevent them. This collaboration aligns with our strategy to utilise advanced digital technologies that improve customer experience while supporting Japan’s autonomous driving initiatives.”
The partnership will eventually enable MSI customers to efficiently identify and classify dangerous driving events from large volumes of dashcam footage, implement targeted driver training programmes, and support the development of autonomous driving software through better understanding of risk scenarios.
“We’re thrilled to partner with MSI to bring our enviromatics technology to the Japanese market,” said Mark Miller, Founder and CEO of InsureVision. “Our AI doesn’t just see what’s happening on the road – it understands the context and intentions behind driver behaviours. This capability represents a fundamental shift from reactive to proactive risk management, helping insurers like MSI not only assess accidents after they happen, but potentially prevent them altogether.”
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