Insurtech companies and digitalization enables new possibilities and offerings of both products and services. Data-driven models makes it possible to provide usage-based services rather than the old fashion subscriptions or fixed contracts. IoT, Big Data and AI enables flexible offerings and better transparency. With our insurtech model, customers get an insurance with individual, usage-based premiums, paid per mile and usage without any binding terms.

This is customer retention, enabled by AI.

Pooled pricing fails wherever it’s being used

It is repeatedly proven. Wherever pooled prices are being used, consumption is higher than with individual pricing. In apartment blocks, pooled power meters are causing 30 to 40% higher energy consumption than with individual meters. When nobody is accountable for the outcome, and when people can’t influence their situation, the incentive to save or improve is lost. That is exactly how a car insurance work today, nobody has the incentive to reduce claims costs.

Lower claims costs, lower premiums

Traditional auto insurance premiums are continuously increasing in price, today too expensive for many consumers to afford. This leaves people unprotected or insufficiently protected - a negative trend caused by skyrocketing claims costs. 
We want to put an end to this model and instead introduce transparency, fairness and room for individual improvement. With our insurance technology, claims costs are reduced by 40%, leading to much lower premiums.

Our AI correlates the driver score to a claims frequency

The traditional insurance premium model forces an average pricing based on old claims statistic, where basically everybody is sharing the cost of claims. This means that nobody is able to influence the price they pay for their insurance, and hence is given no incentive to improve their behavior.

This is what our insurtech is changing. With our AI based premium model that correlates driver scores to claims frequency, people pay for themselves and can influence the cost of the premium. Our insutech gives people the opportunity and transparency to take a stand. Instead of a fixed annual price that is the same no matter how you behave on the road, our insurance technology allows them to see the cost for every trip driven – which evidently inspires people to a substantial change in driver behavior, leading to 40% lower claims frequency.

AI identifies the correct exposure

Through our insurance technology, we can map out drivers who should be rewarded and those driving in a way that is dangerous for road safety. By pointing out the insurance company’s highest risk drivers, our insurtech platform can identify the company's biggest claims costs and where the unnecessary costs lie – and give them a tool to improve.

A solution that contributes to behavioral change

By rewarding drivers who deserve it and allocating higher costs to those who risk life in traffic, behavioral change can occur. Drivers who drive smart, safe and eco-friendly will continue to do so and the vast majority of drivers will want to change their driving behavior to get as low a cost as possible per the month.

This means a triple-win situation: for the drivers who get lower insurance costs, for insurance companies who reduce the number of high-risk drivers and reduce unnecessary damage costs and for the environment, as the companies will have a 17 percent reduction in carbon dioxide emissions.

We solve the insurance companies' digitization

With our insurtech model, insurers get a fast-track-ticket to car insurance digitization. The Enerfy technology gives insurance companies with a scalable, end-to-end solution with endless opportunities to transform the way they do business.

With the help of our technology and expertise, traditional insurance companies can jump into a digitized insurance solution within a week, and notice results within six months.