Connected vehicle data from Conneqtech, used by SIG for driving behavior-based insurance and claims prevention for high-risk fleets.
Insurance partner: SIG
Conneqtech provides the connected vehicle data that SIG uses for Usage-Based Insurance (UBI) products and claims prevention. More accurate risk assessment based on real-time driving behavior results in lower claims costs and better protection for the policyholder.
Why this partnership works
Traditional insurance prices risk based on statistics: vehicle type, driver age, postal code. In practice, two identical cars on the same street can exhibit completely different driving behaviors and thus have different risk profiles.
Connected vehicle data makes the difference visible. SIG uses driving behavior data from Conneqtech to develop insurance products that align with the actual driving behavior of the driver or fleet.
The partnership combines two specialisms:
- SIG provides insurance expertise, UBI product knowledge, and the risk assessment framework for driving behavior insurance and high-risk fleets.
- Conneqtech provides real-time driving behavior data, vehicle monitoring, and claims-relevant signals from its platform.
- The customer benefits from insurance that aligns with their actual driving behavior and driving risk.
What the partnership delivers
The combination of driving behavior data and SIG’s insurance expertise provides concrete benefits for risk assessment and claims prevention.
- More accurate risk assessment based on driving behavior.
Risk pricing is based on facts: speed, braking behavior, and driving patterns. - Usage-Based Insurance for fleets.
Premiums align with the actual use and driving behavior of the vehicles. - Active claims prevention for high-risk fleets.
Risk signals are identified early before a claim occurs.
- Faster claims handling through vehicle data.
Location, speed, and driving behavior surrounding an incident accelerate claims handling and fraud detection. - Premium discounts for demonstrably safe driving behavior.
Drivers and fleet operators are eligible for premium reductions.
About SIG
SIG is an insurer specialized in connected vehicle insurance and Usage-Based Insurance for the automotive and fleet market, focused on risk assessment and claims prevention for fleets with an elevated risk profile.
FAQ – Frequently Asked Questions
What is Usage-Based Insurance (UBI)?
UBI is a form of insurance where the premium is determined based on actual driving behavior and vehicle use, rather than just general risk factors.
How does Conneqtech data contribute to a lower insurance premium?
Driving behavior data such as speed, braking behavior, and driving patterns gives SIG insight into the actual risk profile, allowing demonstrably safe driving behavior to lead to premium discounts.
Does connected data also accelerate claims handling?
Yes, in the event of an incident, Conneqtech immediately provides relevant vehicle data such as location and speed around the time of the incident, which accelerates processing.
Want to know more?
Conneqtech provides the driving behavior data and vehicle monitoring that SIG uses for insurance and claims prevention for high-risk fleets.