The latest investment news from VIG for you;
Vienna Insurance Group (VIG) has acquired a 25 per cent stake in the Vienna-based technology company Dolphin Technologies. The relevant agreements have been signed. With this investment, VIG is strengthening a partnership that has been in place since 2022 to drive forward AI-powered telematics within the Group. Together with Dolphin, VIG will thus further expand its leading position in the use of telematics in the CEE region.
Proven collaboration as the basis for further expansion
Dolphin Technologies was founded in Vienna in 2001 and develops AI-powered telematics platforms and digital mobility services for insurance and automotive companies. Seven VIG companies are already using Dolphin’s technology: Kooperativa in Czechia, Kooperativa in Slovakia, Compensa in Poland, Compensa in Lithuania, Union in Hungary, Omniasig in Romania and Ray Sigorta in Türkiye.
“The decision to choose Dolphin as a partner for the implementation and phased roll-out across our markets was not based solely on its mature technology and ease of use for users. It is also the high level of flexibility and the consideration given to the individual requirements of the countries and our companies that have prompted us to take this stake and enable us to further intensify our digital service concepts,” explains Gábor Lehel, member of the Managing Board and Chief Innovation Officer of the Vienna Insurance Group, regarding the acquisition of a stake in Dolphin, the completion of which is still subject to the necessary approval by the Federal Competition Authority.
Greater safety and tangible benefits for customers
The telematics solution can be integrated into existing customer apps and adapted to local market, product and regulatory requirements. Depending on the service offered, customers receive information on their driving behaviour, tips for safer and more environmentally friendly driving, as well as access to assistance and emergency functions. Responsible driving behaviour can also be linked to cashback or bonus rewards. The data required for this is processed within the framework of the respective product design and in compliance with applicable data protection requirements.
From driving data to prevention and risk management
Telematics for the insurance sector is also increasingly evolving from the mere collection of driving data into a tool for prevention, risk management and customer service. Dolphin has many years’ experience in data science, machine learning and predictive analytics of mobility data. The insights gained from this can help to further develop risk and prevention models and enable new digital services.
“This investment is a strong sign of confidence in us and the logical next step in a partnership that has already proven its worth in seven markets. With its strong presence in CEE and its decentralised business model, VIG offers excellent conditions for rolling out successful solutions in further markets and thereby creating tangible benefits for more customers,” says Harald Trautsch, founder and CEO of Dolphin Technologies.
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