By FINTECH Books Contributor, Igor Valandro
Follow: @IgorYCw

Nowadays, the automotive market is living in an old-fashion world, with small margins for car-dealers who experience a reduction in customer retention and smaller margins for insurance companies that face increased competition.

In the Italian auto insured market the most advanced at global level in terms of motor telematics, Air decided to commit to offering an innovative and disruptive solution, characterised by a complete service to both its car-dealers main distribution channel, its insurance partners and the consumer.

Car-dealers with Air have the chance to improve their margins, especially in the after-sale market thanks to the possibility to receive directly on their CRM, through API systems, all the DTC and telemetry data coming from the vehicle.

This service allows to reinforce consumers’ loyalty and create a multi-year reward lgorithm that is used to prevent fraud and allows short time profit too. The business model applied  is based on big data collection and data science, enabling Air to provide to insurance companies pricing capabilities that account for customer driving behavior.

A direct dialogue with several insurance companies allows Air to provide to car dealers the opportunity to propose a relevant discount on the MTPL insurance policy of the safest drivers. Moreover, this data allows insurance companies to  thus building a better targeted customer base.

Don’t forget about the consumer: he has the possibility to understand the value of his own insurance policy from the first day, and not just after a claim. He can interact with his car thanks to Air’s mobile application, and can buy on demand additional dedicated insurance services.

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